September 29, 2011 2:25 PM

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RBI notifies UID as KYC for all bank accounts

The Reserve Bank of India has notified Unique Identification, UID Number or Aadhaar as a Know Your Customer, KYC norm for the opening any kind of bank accounts in the country. The Chairman of the Unique Identification Authority of India UIDAI, Nandan Nilekani said this while speaking at a function organised in New Delhi on the occasion of the first Anniversary of the Aadhaar Launch. He said that earlier, the RBI had given permission for opening only small accounts through the Aadhaar. Mr Nilekani said that the department has decided to generate 10 lakh Aadhaar per day from the first of next month. He also said that it has set a target of generating 60 crore Aadhaar by the year 2014.

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