Feb 2012 - Economics - National Identity card is required with finger prints in Developing Nations

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Today computer dominates the world. In this system, we need to have a ID card which would be accepted by nationally with out any fraud. In developed countries such USA, has social security number(SSN) and driver license. The driver licsense and SSN combination is accepted nationwide.

Developing countries like India does not have a good ID system. Of course they do have ID, but there is no way track the ID number for all purposes. For instance, you are allowed to open 3 or 4 bank accounts in India by submitting different ID cards such as passport, driver license, voter id, etc. But there is no way you can relate that all these accounts are belonging to the same person or not. Even if you have two accounts in the same bank, it is not possible to track whether it is the same or not.

In USA, Social Security Number which can track all the bank accounts, credit card accounts, bank loans, auto loans, mortgage everything. Even if you move to different address in another state, it can be tracked very easily. This minimized the fraud and people are getting interest rate based on their credit liablity.

India needs to develop an ID system which should be used to link all bank accounts, driver license, voter id, provident fund, pension funds, tax purposes, college and university records, . If ID card is issued with capturing the finger prints, it avoids the possibility of corruption and idenity theft in many ways. Such an ID system provides more security to lower and middle class people.

In today's fast growing and competitive world, only machines can monitor correctly with out any fraud.