Proposal for IPPB - Aadhaar Seeding Campaign (1st October to 31st December 2021)
I am directed to say that the proposal of Aadhaar Seeding Campaign for the period 1st October 2021 to 31st December 2021 submitted by IPPB has been accepted.
2. IPPB is presently serving in far flung areas with more focus on unbanked customers and opening account of customers on digital platform through end users. Aadhaar is the primary requisite for opening IPPB account on micro ATM. Though customers are opening account with IPPB with Aadhar number but these accounts are not being Aadhaar seeded.
3 . Aadhaar seeding in accounts is an important step to help customers receive DBT. Presently only 40% of IPPB accounts are seeded with Aadhaar and out of these Accounts only 35% are receiving DBT which is on the lower side. Aadhaar updation activity at the time of Account opening is a simple process but it has been observed that end users are skipping this step which results in no activity in the Accounts. Due to this month on month only 40% on the new Accounts get seeded with Aadhaar. A circle wise list containing percentage of aadhaar seeding is attached.
4. Advantages of 100% Aadhaar Seeded account & special incentive structure for End Users for the activity are as under: High revenue for the Bank (Upto 10/- rupee per MNREGS transactions) Higher Transactions Activity in the Account Increased CASA Balances Helping customer to receive Govt Subsidies in the form of DBT at their doorstep, if required Financial Inclusion and financial literacy through assisted banking.
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