India’s largest life insurance company, Life Insurance Corporation (LIC), will become an official registrar for the country’s biometric ID program under an agreement with the Unique Identification Authority of India (UIDAI), the government entity running India’s new biometric ID program.
LIC will become a registrar and will allow the UIDAI to access the company’s database of 200 million policy holders, according to a Business Standard article. While the UIDAI has signed other similar agreements, LIC is the first non-government entity to sign such an agreement.
Nandan Nilekani, the chairman for UIDAI, said that this agreement serves as proof of the department’s dedication to reaching their deadlines of getting the new ID out to 600 million of India’s citizens within five years. Nilekani also plans for the inclusion of private financial institutions such as the Indian Bank Association and the Reserve Bank of India to roll out the program.
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