MOU signed between Oriental Bank of Commerce and UIDAI for Implementation of UlD Project

Oriental Bank of Commerce one of the leading Public Sector Bank, headquartered in New Delhi, has today entered into a Memorandum of Understanding with Unique Identification Authority of India to work as registrar to UIDAI.

This MoU was signed in the presence of Mr.Nandan NilekaniChairman, UIDAIand Shri T.Y.Prabhu, Chairman and Managing Director, Oriental Bank of Commerce. Through this MOU, Oriental Bank of Commerce would take up the activities for allotment of 12 Digit UID to public at large.

The Oriental Bank of Commerce as Registrar shall avail the services of empanelled Enrollment Agencies for capturing the identification details of each person along with the Biometric Characters such as Finger-Prints, Iris etc. through the Branch Network of more than 1500 Branches spread all over the Country. The information so captured shall be sent to UIDAI who shall .process the information to generate 12 Digit UID for each applicant. The UID number shall be informed directly to the customers by UIDAI under intimation to the Bank.

The signing of MOU with UIDAI will accelerate its efforts in the Financial Inclusion activities undertaken by the Bank by using State of Art Biometric based micro ATMs and use of UID in Financial Transactions. The use of UID in Bank would also facilitate better authentication and verification of existing as well as prospective customers which would help in adhering to KYC norms.

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