The finance ministry may have amended the Prevention of Money Laundering Rules, 2005, to notify Aadhaar as adequate to meet KYC norms for opening bank accounts, putting it alongside other identity proofs, but banks are still confused Is a unique ID number or Aadhaar number issued by the Unique Identification Authority of India (uidAI) enough to satisfy the so-called know-your-customer (KYC) norms that banks have to ensure every account they open...

-The Times of India   Chairman of the Unique Identification Authority of India (uidAI) Nandan Nilekani has said that the unique identity programme or 'Aadhaar' should not be viewed as "a technologically complicated and purposeless activity". "The programme has much wider and scalable applications for ensuring effective and efficient delivery of public distribution system (PDS) and welfare services," he said while delivering the inaugural speech at the launch of the Pune International Centre...

The finance ministry has put its seal of approval on a proposal to directly transfer subsidies to the bank account of a beneficiary that is linked to her Aadhaar, or unique identification (uid) number. The government has previously articulated its desire to experiment with direct transfers to make its management of subsidies more efficient and ensure benefits actually reach the targeted people. In a notification issued on Tuesday, the finance ministry extended...

-The Hindu   The government on Tuesday extended the terms of reference of the Nilekani task force on direct transfer of subsidies to include an Aadhaar-enabled unified payment infrastructure. Set up by the Union Finance Ministry under the chairmanship of Unique Identification Authority of India (uidAI) chief Nandan Nilekani in February, the task force was asked to recommend and implement a solution for direct transfer of subsidies on kerosene, LPG and fertiliser to...

-PTI   The Bihar government has decided to rope in professionals from the private sector to monitor the rural development schemes in state, Rural Development Minister Nitish Mishra said. "We have decided to hire the best brains from across the country to monitor ongoing rural development schemes inBihar, he said. The state government has already published ads in national dailies for inviting applications for the post of 32 executives and the recruitment of the...