Nilekani, bankers discuss ways to achieve financial inclusion

MUMBAI: Unique Identity Authority of India will rope in banks to further financial inclusion in the country, bankers said after a meeting with UIDAI Chairman and ex-Infosys Chief, Nandan Nilekani, here.

Nilekani made a presentation to the bankers about his project which showed how synergies with banks can help achieve financial inclusion.

Bank chiefs from across the spectrum like State Bank of India Chairman O P Bhatt, ICICI CEO Chanda Kochhar, HDFC Bank MD Aditya Puri and Standard Chartered's Neeraj Swaroop, among others, were present, besides senior RBI officials and Union Secretary for Financial Services, R Gopalan.

HDFC Bank Managing Director Aditya Puri said details regarding forging partnerships between UID and banks to further financial inclusion were among the points discussed at the meeting held at the RBI headquarters here.

"UID will make it easier (for banks) to go into the interiors and a timeline for it will be worked out mutually," Puri said.

"Nandan Nilekani made a presentation to us...we discussed along with serving the excluded people, how can we make good business," Indian Overseas Bank Chairman and Managing Director, S A Bhat, said.

Under the UID, every resident of the country will be given an identity and experts feel it will help people in the rural areas as they will get a unique number for authentication purpose and help bring them into the system.

Finance Minister Pranab Mukherjee in a budget speech had set banks a target of taking financial services to 60,000 villages with a population of over 2,000 people.