Weekly Aadhaar seeding target for lenders set

The finance ministry has set weekly targets for lenders, including private and regional rural banks, for seeding Aadhaar and mobile numbers with savings bank accounts, after they missed the March 31 deadline. The deadline has been shifted to June 30.

Depositors’ consent is required for seeding. As on April 21, banks could seed 61 per cent of accounts with Aadhaar and 73 per cent with mobile numbers. Besides, banks were supposed to issue RuPay cards against Jan-Dhan accounts. As on April 19, they could meet only 58 per cent of the target. The deadline to issue RuPay cards has also been shifted to June-end. Zero balance accounts are excluded. Seeding of Jan-Dhan accounts with Aadhaar, too, has to be completed by the month-end. As on April 19, banks could finish only 78 per cent of this task.

Sources said progress would be reviewed every week.

As on April 21, the State Bank of India could seed 62 per cent of accounts with Aadhaar. Central Bank of India topped the list with nearly 78 per cent seeding, while City Union Bank was the most laggard, completing only 12 per cent.

Banks were ahead in seeding accounts with mobile numbers. HDFC Bank, YES Bank and IndusInd Bank achieved 99 per cent seeding. Karur Vyasya Bank, Kotak Mahindra Bank, Lakshmi Vilas Bank and RBL Bank achieved over 90 per cent seeding, while Jammu & Kashmir Bank achieved the lowest at 42 per cent.