India / Business
Aadhar Based Cashless Economy

After the demonetisation move, India is set to become a cashless economy very soon and the people will be able to have transactions with their Aadhar numbers. The director general of the UIDAI, Ajay Pandey said that the Aadhar-enabled transactions are card-less and pin-less and this would enable mobile android phone users to digitally transact using their Aadhar number and fingerprint/IRIS authentication.



Amitabh Kant, CEO of Aayog, said that they are asking mobile manufacturers to see if all mobiles made in India should be inbuilt with IRIS or thumb identification system to as to help Aadhar-enabled transactions. 


Aruna Sundarjan, IT secretary, said that the ministry has kept aside Rs 100 crore to incentivise enrollment of merchants on to the digital platform to help the same.