- LATEST
- WEBSTORY
- TRENDING
BUSINESS
DCB Bank first to offer Aadhaar-based ATM facility for transactions
The user can key-in the 12-digit Aadhaar number or swipe the card at an automated teller machine (ATM) to start a transaction
Updated : Mar 21, 2018, 05:26 AM IST
 "Representational Image")
TRENDING NOW
)
Aishwarya Rai fans express anger after Abhishek Bachchan, Amitabh Bachchan skip her birthday post: 'She needs to...'
)
Nimrat Kaur's shocking comment amid Aishwarya Rai, Abhishek Bachchan's divorce rumours goes viral: 'I felt sorrry for..'
)
Meet man, who secured AIR 2644 in JEE, did B.Tech from IIT Kanpur, has now started doing...
)
Meet second Muslim woman to crack UPSC exam, her family has 9 civil servants with 3 IAS, 1 IPS, 5 RAS officers, with AIR
)
'Looking for excuses...': Shah Rukh's statement on actors leaving their wives amid Aishwarya-Abhishek divorce rumours
)
Aishwarya Rai Bachchan Birthday: Kajol pens heartfelt wishes for actress, calls her...
)
Mukesh Ambani's superhit plan for Jio users, 2GB data per day, unlimited calls at just Rs...
)
Tom Hanks reacts to Forrest Gump remake, Laal Singh Chaddha, says Aamir Khan flop has 'differences need to be...'
)
Meet Salman Khan's 'niece' who rejected film with him, vanished from Bollywood after one blockbuster, now works as...
)
Amid link up rumours with Abhishek Bachchan, Nimrat Kaur drops special video with her 'favourite human'
)
Mukesh Ambani, Nita Ambani's choti bahu Radhika Merchant stunned at Abhishek Bachchan, Aishwarya Rai's party at Jalsa
)
Ratan Tata's Will: Who will get Tata's beachfront Colaba residence, luxury car collection?
)
Amid linkup rumours with Abhishek Bachchan, Nimrat Kaur drops Diwali photos with cryptic note: 'Mere ghar se...'
)
Big changes in UPI payment from November 1, Paytm, PhonePe and GPay users must pay attention, it is...
)
Meet Alka Tiwari who is the new Chief Secretary of Jharkhand, studied from University of Manchester, earlier she was...
In a first for any domestic bank, small-sized lender DCB Bank has started an Aadhaar-based ATM usage facility wherein a customer can transact using his biometric details instead of the PIN.
"We have started the first ATM in the country which operates using the Aadhaar data. One can do a transaction without the card as well," the bank's Managing Director and Chief Executive Murali Natrajan told PTI.
The user can key-in the 12-digit Aadhaar number or swipe the card at an automated teller machine (ATM) to start a transaction, but at the stage of confirming the identity, it requires biometric details rather than the PIN.
"All you have to do to authenticate is put your finger on the scanner. This is better than PIN, which can be forgotten because of multiple bank accounts," he said.
Seeding the bank account with the Aadhaar number will be essential before a customer can use the facility, he said, adding that initially, only DCB Bank customers will be able to make use of the service.
The solution has been developed in-house and involves connecting up with the Aadhaar server to authenticate the identity of the customer every time a transaction is initiated, he said.
Natrajan said it is a comparatively inexpensive solution and the bank, which currently has 400 ATMs, is targeting to cover its entire network under the system within a year.
The first of the Aadhaar-based ATMs has been installed at its corporate office in the megapolis' Lower Parel area and Natrajan said it will be waiting for a month more for the technology to stabilise before a mass rollout.
He added that it has great potential at the POS (point-of-sale) terminals at the merchants' end to make transactions easier and also for business correspondents.
Enrolments under Aadhaar are set to cross the 100 crore mark soon. The data is being used for a slew of purposes like opening bank accounts and the government's direct benefit transfer (DBT) scheme.
Natrajan said he sees the banking industry coming out with similar technologies so that ATM transactions can be carried out without a card.
