PM4K NEWS 028: NILEKANI THINKS UP WAY TO MAKE UNIQUE IDs PAY

Continuing with the PM4K NEWS Series on the Unique ID Project here’s another update.

In charge of one of India's most ambitious projects – providing a unique identification number to every citizen - Nandan Nilekani, chairman of the Unique Identification Authority of India, is thinking innovatively as usual. The former Infosys boss on Tuesday suggested a way in which the project could earn revenue for the government. ''Let's say there is a bank or a mobile company which is opening a new account. Normally they use a KYC (know your customer) process and spend about Rs. 100-200 crore. If we are able to reduce this cost (through the UID) then it's reasonable they pay us something for that. So we will monetise this for agencies that use it for commercial purpose,'' said Nilekani.

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