Using electronic payments into bank accounts for Government payments – The recent introduction of direct benefit transfer for validating the identity of the beneficiary through Aadhaar will help facilitate delivery of social welfare benefits by direct credit to the bank accounts of beneficiaries.
The government, in future, has plans of routing all social security payments through the banking network using the Aadhaar based platform as a unique financial address of beneficiaries. The condition of full withdrawal by beneficiary’s proof of disbursement should be removed; this will promote usage of accounts for savings.