Now, 83 per cent males and 77 per cent females have formal bank accounts but they are hardly using them
The project, anchored by National Highways Authority of India in partnership with National Payments Corporation of India, is gaining momentum, with big banks such as ICICI and non-bank entities like Paytm have also entered the arena.
While most banks in India store all this data on Indian servers in their core banking systems, the current directive addresses new-age payment and fintech companies operating in the space
Anthony Pompliano, general partner at Morgan Creek Capital Blockchain in the Silicon Valley, shares his views on cryptocurrencies with Mayank Jain in an email interview.
E-KYCs and Aadhaar authentication are of crucial importance to the fin-tech companies as the recent RBI instructions require strict KYCs for these players to function in the market.
Cases of atrocities on scheduled castes increased from 45,000 in 2014 to 40,800 2016. Cases of atrocities on scheduled tribes went from 11,451 in 2015 to 6,568 in 2016.
The 16-digit randomly generated number by the Aadhaar system was supposed to be introduced by the UIDAI on March 1 and mandatorily deployed by companies using Aadhaar by June 1.
Over the past few weeks, an anonymous person, claiming to be a French mobile app developer, has been using his Twitter account to flag security concerns in the Aadhaar system. Recently, the account released a video showing a hack into the Aadhaar application (app). The Unique Identification Authority of India has maintained that Aadhaar remains safe and secure. Mayank Jain spoke to Robert Baptiste, the man behind the Twitter account called 'Elliot Alderson', to understand the way forward for citizens to keep their information safe.
Kunnal Prem, chief executive officer of the Insurance Information Bureau of India, tells Mayank Jain on what they're doing.
Those people without the Aadhaar number have found a loophole in the system
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