The World Bank has said that India’s Aadhaar ID will save the government $1 billion annually by curbing corruption. India’s Aadhaar digital identification system has already reached close to one billion people enabling many of the poor to access services more easily and making it possible for government to deliver welfare services more easily. India is close to registering its entire 1.25 billion population usingAadhaar ID, the World Bank said.

Technology can be transformational. A digital identification system such as India’s Aadhaar, by overcoming complex information problems, helps willing governments to promote the inclusion of disadvantaged groups,” the World Bank said.

 World Bank 

• The World Bank is an international financial institution that provides loans to developing countries for capital programs.
• It comprises two institutions: the International Bank for Reconstruction and Development(IBRD), and the International Development Association (IDA).
• The World Bank is a component of the World Bank Group, which is part of the United Nations system.
• The World Bank’s official goal is the reduction of poverty.
• According to its Articles of Agreement, all its decisions must be guided by a commitment to the promotion of foreign investment and international trade and to the facilitation of Capital investment.
• The World Bank was created at the 1944 Bretton Woods Conference, along with three other institutions, including the International Monetary Fund (IMF).