The Aadhaar card comprises of a 12 digit unique number provided by the Unique Identification Authority of India.The UIDAI works under the Planning Commission of India.Besides this the Aadhaar card also comprises of the biometric as well as the demographic data of an individual.The Aadhaar card is in turn Authenticated by the UIDAI officials at the Aadhaar enrollment center. The verification is done by crosschecking the information provided by an individual while applying for an Aadhaar card with the help of documents like identity proof(like PAN card,Voter’s id card,driving license etc),address proof (like electricity bill,bank statement etc).
Importance Of The Aadhaar Card
The government has made Aadhaar mandatory to avail all government services.Further all the accounts which have not been linked with the Aadhaar card will become inactive after December.The importance of the Aadhaar card can be examined with the following points:
- Aadhaar will ensure economic development: In a recent report by the HDI it has been shown that India is one of the fastest growing economy in the world.Despite of this fact more than two fifth of the population lives below the poverty line and living in bare survivals.The government every year spends money in lakhs for the upliftment of the poor.However even after so many years no significant upliftment can be seen in their economic conditions.There are a number of reasons why the benefits of economic development of the country has not the reached or trickled down to the weaker section of the society and most important one is the presence of “gost workers” or fake identities created by corrupt officials who then steals the funds provided by the government which are meant for the poor. This is happening because majority of the people living below the poverty line do not have a proper identification. The lack of proper identification is also excluding them from participating in the economy.
- Universal identity proof: The Aadhaar card acts as a universal identity proof that can used anywhere in this country.The Aadhaar card comprises of both the demographic as well as biometric information about an individual and thus a person brings more transparency whenever he or she is applying for any services.Moreover the Aadhaar initiative will also ensure that customer do not have to carry bundles of documents with them for verification to a service provider.
- For national security: Aadhaar card will also help in maintaining the law of the land.The proper identification of every citizen of the country,will also help in the criminal investigation and fight against terrorism.The Aadhaar card comprises of both the biometric as well as demographic data of an individual.Moreover Aadhaar card is also mandatory as a KYC documents for availing a number of services like opening a bank account,applying for a SIM card etc.
Besides being mandatory, linking Aadhaar card with bank account comes with a number of perks like:
- Government schemes:Payment of all government schemes will be made directly to the Aadhaar linked bank account.For example MNREGA,government scholarship,mid day meals,pension schemes etc.
- As KYC document:The Aadhaar acts as a mandatory KYC document to avail a number of bank services like for opening a bank account,availing pension schemes,filing tax returns etc. This step is taken by the government to ensure the elimination of fake accounts.
- Other uses: If the Aadhaar scheme gets a green signal from the supreme court it will also be mandatory in booking flights,train tickets,while availing passport etc
IOB-Indian Overseas Bank
India Overseas Bank was founded by the M.Chidambaram Chettyar with two main objective,that is manage foreign exchange and overseas banking. IOB is also called the “Chettiar bank” not only looked after the finances of Indian citizens living abroad but also played a major role in industrialization back in India.
The Indian Overseas Bank does not provide the option for Aadhaar linking via SMS or online. A person will have to physically go to a bank branch to link the Aadhaar with the bank account.
The following steps must be taken for linking Aadhaar with bank account:
- The following documents must be taken when going to a IOB branch with the purpose of linking Aadhaar with bank account-original and the xerox copy of both the Aadhaar card and the bank passbook.
- The Aadhaar and bank account linking can be done by visiting a branch of Indian Overseas Bank
- Fill in the application meant for Aadhaar linking available at the bank branch.All details must correctly filled.
- After filling up the application submit the same to a IOB officer
- After this the bank might ask for the documents for verification.After the verification the documents will be handed back to the account holder and an acknowledgement will be provided to the account holder for future use.
- Once the verification is successfully done, the bank officers will in its back office will manually link the Aadhaar with the account
- Once the Aadhaar linking process is over a confirmation mail or SMS will be sent to the account holder.