"We all know Aadhaar was started by the previous government but at that time, it was only a digital identity. Under the government led by PM Narendra Modi , it has become a powerful tool of financial and future transformation," IT minister Ravi Shankar Prasad said. "Aadhaar is also becoming a powerful instrument to bridge the digital divide," he added.Sources said after the government banned high value notes, Aadhaar generation and its use for financial transactions saw a substantial jump.Aadhaar enrolment between March 2014 and May 2014 was 3-4 lakh per day and went up to around 5-6 lakh per day by October 2016. "He said the BHIM app was linked with Aadhaar so that transactions could be carried out in a simpler and transparent manner.The minister said around 119 banks were connected with the AEPS and around 33.87 crore transactions had taken place through this platform. Prasad said people often raised concerns of privacy breach but the Aadhaar Act ensured privacy of people.

Source: Times of India January 27, 2017 20:05 UTC