Axis Bank Ltd.

Country’s third largest private sector lender, Axis Bank has introduced Saral Money bank account product. It will allow customers to open an account using Aadhaar card as address as well as identity proof, as per the RBI’s guidelines to accept Aadhaar letter as the proof of both identity and address if the address provided by the account holder is the same as that on the Aadhaar card.

Saral Money account is Visa payment settlement-based account and will enable the customer to make purchases, send money or receive government disbursements at the existing ATMs, point of sale terminals and proposed micro ATMs.