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Use of Aadhaar to Help in Financial Inclusion: Raghuram Rajan

Use of Aadhaar to Help in Financial Inclusion: Raghuram Rajan RBI Governor Raghuram Rajan today welcomed Supreme Court ruling on use of Aadhaar card in more schemes and said it will help in financial inclusion drive and providing easy access to loans. "The Supreme Court ruling today on Aadhaar card will be quite helpful, making us use it in banking services. It will make easier for financial inclusion," Mr Rajan told reporters after the central bank's board meeting in Aizawl. With an UIDAI number, a person will be able to open a bank account as it will work as an identification document and will help in easier access to loans, he added. "UID will ensure that people will not get multiple loans from different places. We can make sure that it does not happen. This is an example on how we can make more lending possible," said Mr Rajan, who was in the city for RBI's 554th Board Meeting. The Supreme Court today permitted voluntary use of Aadhaar card for sc