There is some hope for these companies, with Finance Minister Arun Jaitley saying there was a need for legislative backing for private companies that were using Aadhaar. Adding that a careful reading of the judgment is required, Jaitley said this could be "temporary".
In addition to challenges such as reining in non-performing assets (NPAs) and boosting profits, Chaudhry will have to repair the bank's reputation, build internal controls, and improve regulatory relations.
The new requirements include a shift to cassette swap system, mandate armed guards while transferring money as well as a host of other measures that would require huge investments.
Key questions remain about the operational and financial viability of a completely paperless bank such as India Post, says Mayank Jain.
Each postman has undergone a three-tier training process, after which they were evaluated by the National Institute of Banking and Finance and given certificates.
For financial institutions, it will be an opportunity to provide better lending options. For instance, customers who pay their overdrafts on time will get access to more credit and probably at a cheaper rate.
Apart from SBI, UPI 2.0 partner banks are HDFC Bank, Axis Bank, ICICI Bank, IDBI Bank, RBL Bank, YES Bank, Kotak Mahindra Bank, IndusInd Bank, Federal Bank and HSBC.
HDFC Bank managing director Aditya Puri, ICICI Bank MD and CEO Chanda Kochhar, and Axis Bank MD and CEO Shikha Sharma did not receive their bonuses in full for financial year 2016-17
The MCA notification lays down a deadline of August 31 for the fulfillment of the KYC requirements
French hacker Elliot Alderson had earlier pointed out UIDAI helpline (1800-300-1947) could just be "the tip of the iceberg", hinting there could be additional data or trackers on Indian phone manufacturers' devices.
While noting there needed to be a balance between the two fundamental rights, the Srikrishna panel stated there was an inherent conflict. "However, disclosure of information from public authorities may lead to private harms being caused. It is thus important to recognise that, in this context, there is a conflict of fundamental rights, between transparency and privacy," the report stated.
In a bid to curb the spread of fake news, the US-based company is testing a feature, which enables users to detect harmful links sent and received.
A representative of the Confederation of ATM Industry said ATM players were not consulted about the move and they received the news via media platforms.
Cos ask US treasury to discuss data localisation norms with Indian officials at all platforms the two countries would meet, including G-20, US-India Strategic Dialogue, and IMF Annual Meet.
A company claims to run ads on Facebook where students are encouraged to provide their details to get help from career counsellors.
IAMAI in a statement, which represents digital businesses in India, said Trai's recommendation to formulate standards of anonymisation and de-identification was akin to putting the cart before the horse, and till such time the Srikrishna Committee submits the report, making these standards would be like groping in the dark.
The firm has blamed a section of unnamed competitors as well as maleficent parties
Indian firms caught napping as private details of individuals were leaked
It is, thus, logical that some compensation is paid to a lender, especially when a customer is poached within two years, Parekh noted.
The company was awaiting clarification from the Reserve Bank of India on data storage before it took a final call on data localisation.
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