The JAM (Jan Dhan, Aadhaar and Mobile) trinity and Pradhan Mantri Jan Dhan Yojana (PMJDY) has the capability to bring all Indians into a common financial, economic and digital space, similar to how GST has created a unified market. That is 1 billion unique Aadhaar numbers linked to 1 billion bank accounts and 1 billion mobile phones. Once that is done, all of India can become part of the financial and digital mainstream," he said. Currently, the government makes direct transfer of Rs 74,000 crore to the financial accounts of 35 crore beneficiaries annually, at more than Rs 6,000 crore per month. Talking about seeding of Aadhaar with bank accounts, the Finance Minister said today about 52.4 crore unique Aadhaar numbers are linked to 73.62 crore accounts in India.

Source: dna August 27, 2017 06:45 UTC