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In a move to push Narendra Modi’s “cashless economy” agenda, the government is planning to link all savings accounts with the Aadhaar numbers.
This move will allow account holders to carry out digital transactions at, say, retail points, The Times of India reported. More so, it will come in handy for India’s 30 crore non-smartphone users who are unable to make online transactions, and are forced to rely on cash.
According to TOI’s sources, the plan has been approved by Modi, who has now asked Finance Minister Arun Jaitley and Electronics and Information Technology Minister Ravi Shankar Prasad to carry out the implementation.
Explaining the details of the measure, TOI quoted sources:
In turn, the Reserve Bank of India has been insisting on the deployment of point-of-sale machines, with the option of Aadhaar, across the retail set-up. It is pushing for making the feature a must for new deployments.
(Source: Times of India)
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