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4 Lesser Known Benefits Of Aadhaar Card

    IndianMoney.com Research Team | Monday, March 06,2017, 08:22 PM
 

 

The Government of India, wants each and every citizen of the country, to have a unique identity. Aadhaar a 12-digit unique identification number, has been issued to you and all Indian citizens, by UIDAI (unique identification authority of India), with identification provided through biometric data. But…is Aadhaar just another identity given to you, or is it more?  Aadhaar card has many more benefits and you must study them, to get the best out of it.

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4 Lesser Known Benefits Of Aadhaar Card

 

1. Aadhaar card gives you the direct benefit transfer​

 

One of the biggest benefits your Aadhaar card gives you is the DBT, or direct benefit transfer. All you need to do is link your savings bank account to Aadhaar. Any Government benefits or subsidies are transferred directly to your bank account, with Aadhaar used as an identity.

This helps you enjoy any Government subsidy or benefit, as money reaches you directly, eliminating the chance of pilferage and middlemen putting their hands on your hard earned money.

 

2. Aadhaar card gives you access to the digilocker

 

Digilocker is nothing but a personal electronic space, provided to you by the Government, to store documents electronically. It is a National digital locker system. This 16GB storage system called digilocker, must be linked to your Aadhaar number. Your documents can be stored securely in a digilocker, which is nothing but an online locker system.

All you need to do to sign-up with the Digilocker, is have an aadhaar and register your mobile number with Aadhaar. You can even digitally sign e-documents using the e-sign facility, provided by the digilocker. You can store documents like property papers, shares and mutual fund certificates, life and health insurance policies, PAN card, Passport, Birth and marriage certificates and even medical reports, electronically, using the digilocker.

 

3. Aadhaar card helps you get monthly pension payments on time

 

Aadhaar cards can be a great boon for senior citizens. Senior citizens find documentation very cumbersome and time consuming. Imagine if the bank account of you and other senior citizens is linked to aadhaar? Your pension money would get credited, directly to your bank account. This is what linking your bank account to aadhaar does.

The benefit of this great move is the pension gets credited to your bank account directly without middlemen/intermediaries, getting a chance to pilfer the money.

 

4. With Aadhaar card make payments using fingerprints

 

What…pay using Aadhaar card? Yes, you can go to a shop and buy a laptop or a watch, if the merchant has installed aadhaar enabled payment systems called AEPS. The merchant has a smart phone which has a finger print scanner attached to it. The merchant enters the price of the laptop or whatever you buy, into the system. You authenticate this transaction with your fingerprints by placing your fingers on the scanner.

Your bank account needs to be linked to your Aadhaar Number (Customer’s Aadhaar Number). The amount gets deducted from your bank account. This amount will be credited to the merchant’s bank account.

Yes, Aadhaar is more than just an identity. If you don’t have an Aadhaar, it’s time to enroll yourself and get one. Be Wise, Get Rich.

IndianMoney.com Research Team

The research team at IndianMoney.com comprises of certified and experienced professionals who share the company's vision to make every Indian financially literate by equipping every Indian with right and unbiased advice. IndianMoney.com research team provides newsletters, articles, videos and FAQs on various financial products and concepts only to help you make wise financial decisions.

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