NEW DELHI: The NITI Aayog on Thursday said that the government is working on 12-digit Aadhar number as the mode of banking in a bid to help the economy to move to cash-less system. The think-tank panel also stated that the government is working on incentives and disincentives to encourage cashless transactions in the country.
The first meeting of the chief ministers’ panel headed by the Andhra Pradesh chief minister N Chandrababu Naidu was also held, with members interacting through video-conferencing. The NITI Aayog vice-chairman Arvind Panagaria briefed the members of the panel about the steps taken by the government in promoting cashless economy after the announcement of demonetization.
The think-tank panel in a media briefing on Thursday stated that the Aadhar number will be the key to help the people embrace cashless economy. The Centre is also gearing up to bring an App which will offer the Aadhar based transactions in which thumb impression would help the people transact. Such transactions would not require any card or and PIN number. Initially, the facility would be made available for Android-based phone, the NITI Aayog said.
The think-tank panel has roped in the Unique Identity Authority of India to connect with the manufacturers of the mobile phones to allow the Aadhar enabled banking transactions. The government has also earmarked an initial corpus of Rs 100 crores to spend as incentives to encourage the cashless economy.