Planning Commission deputy chairman Montek Singh Ahluwalia, said that to reach this financial situation for large number of population mobile phones could be used which will require restrictive framework, allowing transactions without compromise on financial firmness and security.

To describing the benefits of UIN, Nandan Nilekani the Chairman of Unique Identification Authority of India, said that it can be used by industry to grow up credit history of singulars. Best thing is that it will cut down fallacious cases and non-performing assets, which would aid in reducing the lending rates on retail loan. Along with this, it will also restrict the outflows of financial benefits spread by the government to poor. He also quoted that the demand for using new technologies like mobile telephone networks to bring down the cost of financial transactions.

Some other experts also believe that, this new system will also improve the efficiency of the financial transaction between banks, microfinance companies and mobile phone operators.