The Government going to promote an Aadhaar-enabled payment system (AEPS) in coordination with the Finance Ministry. About 40 crore bank accounts have been linked to Aadhaar,” Electronics, Information Technology, Law and Justice Minister Ravi Shankar Prasad said here .
Mr. Prasad said 99 per cent of the adult population had Aadhaar numbers at present, and moves were afoot to connect the rest of the bank accounts with the Aadhaar numbers.
The Minister said AEPS was required because around 30 crore people still did not have mobile/smartphones and could not do online transactions or use mobile wallets or e-wallets at any point in time. India had the digitisation infrastructure required to leverage the Jan Dhan-Aadhaar-Mobile (JAM) trinity, NITI Aayog CEO Amitabh Kant said in an address to the annual general meeting of industry body FICCI, stressing that if the country was to aspire to grow to a $10 trillion economy, it would have to be prepared for disruption.
The cash crunch being faced by people due to the demonetisation of high-value currency notes could be resolved by the middle or end of January 2017, with about Rs. 12 lakh crore in cash returning to the system by then, NITI Aayog CEO Amitabh Kant said .
