June 20, 2012 9:21 PM

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RBI asks RRBs to ensure opening of Aadhaar-enabled banks accounts

The Reserve Bank, RBI on Wednesday directed Regional Rural Banks -RRBs to ensure opening of Aadhaar-enabled banks accounts for beneficiaries of the Mahatma Gandhi National Rural Employment Guarantee Act- MGNREGA and other social security schemes, for facilitating electronic transfers. The direction of the RBI came following the timelines attached to implementation of Electronic Benefit transfer -EBT for routing MGNREGA wages and social security benefits including proposed cash transfers in respect of subsidies on kerosene, LPG and fertilisers. The RBI in its circular has also directed the RRBs to ensure opening of Aadhaar Enabled Bank Accounts of all the beneficiaries including those residing in villages with less than 2000 population.

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