New Delhi, Nov 24 (PTI) A top official of the National Payments Corporation of India on Wednesday proposed using Aadhaar-linked technologies for detecting financial crimes, including tax avoidance.

Speaking at the Aadhaar 2.0 workshop, National Payments Corporation of India (NPCI) MD and CEO Dilip Asbe said such technology will be used in three-four years.

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"Tax avoidance is a big issue in our country. Today with PAN and Aadhaar linkages, when a customer has an account with multiple banks, the Aadhaar is linked there. Why can't we look at data a little bit more for suspicious cases to see if there are tax avoidance in the country?" Asbe said.

He said many use cases are possible with Aadhaar for public good.

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"I am sure that it will be used three-four years down the line but can we afford to wait that much time?" Asbe added.

He further said Aadhaar as a unique ID has great value but it is still not being leveraged fully.

Asbe also pointed out that if a customer commits a financial fraud, then it impacts multiple institutions.

"Nobody is able to stop. With the uniqueness of Aadhaar, is it not possible to create a fraud repository? To ensure that once the person does a fraud, he will not get the SIM card, he will not get a bank account, he will not get wallet, he will not get anything," Asbe said.

Systems can be built up and ensure that fraudsters are blocked at the door itself, he added.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)