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".
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.
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 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
The company was awaiting clarification from the Reserve Bank of India on data storage before it took a final call on data localisation.
Mobile payments alone gathered close to $1.51 billion in the year 2017 through 13 rounds of funding, according to data compiled by Tracxn
A group of lawyers and activists want India's privacy law to ensure that autonomy, dignity and privacy are safeguarded, and proposes a penalty provision of up to Rs 10 million for those found violating the code and a jail term extending up to three years or a combination of both. Mayank Jain reports.
Experts contend that this setback, even if temporary, could put the company at a disadvantage to its competitors in acquiring new customers.
Betting as a function of pure luck is banned in the country, but games of skill with monetary stakes are not.
One of every four people in the 27-37-year age group, the most prolific in using digital banking apps, reported a fraud in the past year
'The reason is that you may not enter the branch but you want to see it near you as it establishes trust.'
© 2025 Rediff.com - Investor Information - Advertise with us - Disclaimer - Privacy Policy - Sitemap - Feedback - About us - Terms of use - Grievances