Aadhaar Card: More than a Mere Identity Proof - Planning For It!

Page 1 of 2

Aadhaar Card: More than a Mere Identity Proof

Introduction
Aadhaar card has shown a great potential for the inclusive growth of Indian economy. There are many
government schemes present, under which subsidies and economic benefits are available to the citizens to fight
the adverse financial condition, but black marketer and mafias were misusing the system for personal benefits.
Now, the direct subsidy in the account of a beneficiary through Aadhaar based credit system would check such
anomalies. Aadhaar has been designed to benefit in many ways:
-

Proof of a Unique identity

Stop black marketing of products like rationed food, gas and agriculture products.
Protect poor and illiterate people from getting cheated by mafias
NAREGA like schemes would get more penetration.
Online identification of the card holder would be possible. It would help in identifying anti-social people
at all places.
It would stop misuse of other identity cards due to high-security features designed in Aadhaar card.

Acceptability of Aadhaar Card

Aadhaar has been widely accepted at various government and non-government institutions as well as schemes.
The recognition of Aadhaar is growing quickly with the government making it compulsory to hold the unique
identity to take the benefit of its schemes. The various schemes, under which government has recognized as
valid identification proof, to hold the card, are:
-

Aadhaar is now accepted as identity and address proof for passport application.
Identity proof for driving license
Opening a bank account with Aadhaar as proof enables it to get benefits of various government
schemes through direct monetary credit.
It is compulsory for a new or existing LPG connection holder.
At the time of buying or selling property
Compulsory while opening a Provident fund account
Aadhaar has been made compulsory for students taking admission in universities.
It is mandatory to hold an Aadhaar card for all types of a cash transfer scheme by government. It
includes such as scholarship to students, ration etc.
Aadhaar card has been made compulsory as identity proof, while deciding for a court marriage.
It is acceptable as Identity proof for taking mobile or telephone connection, but soon it is expected to
be made as mandatory.
It is acceptable as id proof for opening a DMAT account.

Conclusion
The above-mentioned recognition of Aadhaar card is just a glimpse of its growing acceptability. In the coming
days, Aadhaar cards application would be even greater when it is likely to be made necessary to hold unique id
proof for services like mobile recharge, Internet connection, traveling, refueling vehicles, hotel booking, mutual
fund, insurance services and electricity connection. The government would now be responsible for framing
more inclusive policy along with a timely delivery whereas Aadhaar would provide the platform for its precise
execution. The spillage of government subsidies is soon going to end. The investment products like Insurance,
mutual fund, equities and bonds, would get safer with no risk of identity theft and availability of single point
integration of all investments. No doubt Aadhaar is a much bigger product than mere an identity card.

http://www.investmentyogi.com/planning/aadhaar-card-more-than-a-mere-identity-proof.... 27/02/2013

Aadhaar Card: More than a Mere Identity Proof - Planning For It!

Page 2 of 2

About the author:

Amit Sethi is an MBA (Fin) graduate and a Financial Consultant. He has spent 10 years in Equity research, Stock broking and
Financial Consultancy Sector. He can be reached at amvilube@gmail.com

Published Feb 12 2013, 10:27 PM by Yogi

Filed under: aadhar card, identity, gas

http://www.investmentyogi.com/planning/aadhaar-card-more-than-a-mere-identity-proof.... 27/02/2013