Many of you would agree that technology has become very much a part of our daily life. Be it booking a movie ticket, travel, or even accessing bank account(s) can all be done via your beloved smart phone or tablet. So, it can be said that technology has become an enabler / facilitator. It has infused ease in the way we transact and kept ourselves abreast with host of things.

Perhaps recognising the importance which technology holds today and its potential going forward, Finance Minister, Mr P. Chidambaram at the annual bankers' conclave (Bancon) in Pune, outlined the Government’s strategy to shift most transactions to the electronic mode. The Government is pushing "mobile banking" in its endeavour to provide those in the rural areas the opportunity to access their "Aadhar accounts" even if banks are not around nearby.

Very soon, as bank account holders you will be able to access your accounts, transfer funds, check balances and request for a cheque book, by simply dialing *99# from even the most basic GSM mobile phone handset, irrespective of the cost, operating system and telecom provider. While some lenders have already rolled out similar services, *99# will be a universal code to access account details across all banks.

This similar to the system used in pre-paid phones to check balances. As a user, all that you require to operate your bank account is numerical literacy. It is noteworthy that since the system is not based on SMS or GPRS connectivity, there’s no charge levied on you. What sets apart the *99# initiative (which is the brainchild of the National Payment Corporation of India) from other mobile telephony services currently offered is that the *99# connectivity is under the Unstructured Supplementary Service Data (USSD) platform where each dial-in results in a live connection with the bank's server.

We are of the view that, with the introduction of this facility banks and telecom companies have come together at the industry level, and this in turn would infuse ease by which bank account holders transact. Moreover, majority of the users are availing GSM service and thus strategy is well targeted as well. However, we think that the mainstay of this electronification strategy is intended to link "Aadhar" numbers with bank accounts, and to ensure that those who do not have an account open one as well, so that Government benefits such as pension, scholarships and subsidies can be transferred directly to individual accounts.

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aspimadan@yahoo.in Nov 28, 2012 There is a link to ADHAR CARD NO. But if all formalities completed but adhar card not yet recd. How can one expedite with whom and how long does the authorities take to issue the formal card for data verified and registered in person during the registration period months ago. Pl. furnish contacts of concerned authorities who can expedite final issue of the adhar card to individual.

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