Digital Payment

Aadhaar Card Mandatory for Joining a Company

The government has made the biometric authentication using Aadhaar mandatory after facing several scenarios of fake identity theft—including becoming a director on a board of the company or for issuing its returns by company secretaries and chartered accountants—for Companies Act-related transactions. As per the sources, the Ministry Of Corporate Affairs has encountered several instances where people have established a Director Identification Number or have been chosen as directors on boards of the company without their consent, a necessity for connecting a board, as their signatures were copied.

Aadhaar data leak: Now govt agencies will safeguard your personal info

The linking of Aadhaar — the 12-digit unique identification number for Indian residents is about to become safer as new rules put the onus on government departments and agencies to safeguard personal data or information held by them. Departments handling the data will have to ensure that end-users are made aware of the data usage and collection and their consent is taken either in writing or electronically, according to new guidelines issued by the government for security of personal data.

Aadhaar eKYC mandatory for mobile connections: Here’s how it applies to you

If you don’t have an Aadhaar card number, you’ll probably have to get one soon, since the government is making this mandatory across a range of services, and it looks like getting a mobile connection is next on the list. Last Friday, Department of Telecom (DoT) has issued an order asking telecom operators to start the process of re-verifying their subscribers with Aadhaar-based eKYC. DoT’s order reads, “All licensees shall re-verify all existing mobile subscribers (prepaid and postpaid) through Aadhaar-based e-KYC process.

After Notes Ban, 18 Lakh Cases Of Income, Bank Account Mismatches Detected: Arun Jaitley

Government authorities have detected 18 lakh cases after demonetisation where the income profiles of people do not match their account profile, the Lok Sabha was informed today. Preliminary information has been sought from such people and many have responded. Those who have not given details would be issued with notices as per procedure, Finance Minister Arun Jaitley said during Question Hour. Responding to supplementaries, he said there was an extended footprint of digitisation in the banking sector.

Govt makes Aadhaar mandatory for students

The move is aimed at checking the drop-out rate and ensuring quality education The Yogi Adityanath government in Uttar Pradesh has made Aadhaar Card mandatory for students from Class 1 to 8 in government schools. The Basic Education department has been entrusted with this task involving over 1.75 crore students. The Basic Education Minister Anupama Jaiswal said that directions have been issued in this regard. “The main aim of the government is to link their Aadhaar Card number with different welfare schemes, including mid-day meal, run by the state for the welfare of primary students,” she said.

How the Aadhaar-based payment modes work

The government is planning to utilise the Aadhaar database to give shape to a digital future and utilise it for payments, and authentication of transactions is the key to its success. While Unified Payments Interface and BHIM (Bharat Interface for Money) are processes for peer-to-peer transactions using smartphones, the government is promoting Aadhaar-enabled payment systems for the non-smartphone savvy. As per sources it is planning to launch Aadhaar Pay on April 14.

SBI New Charges On ATM, Other Transactions

ATM transactions from SBIs mobile app “Bank Buddy” will attract a Rs. 25 charge per transaction. HIGHLIGHTS Cash transactions are capped at Rs 2 lakh with effective from April 1 The government is monitoring all large cash and suspicious transactions Any breach of the rule will attract a penalty of 100 per cent The country’s largest lender State Bank of India has revised service charges on ATM withdrawal for users of its mobile app “SBI Bank Buddy,” and various other cash transactions, effective June 1.

7 smart tips which can help you save more & become rich

Who doesn’t want to become rich? However, getting wealthy isn’t that easy. It begins with determined consciousness to get wealthy. We all know that to become rich you need to spend less than what you earn. That is because the less you spend, the more you will be able to save. You should save and invest what you have into investments (assets) that appreciate over time. Apart from these, here we are taking a look at a few really easy and ‘anyone can do it’ strategies or DIY tips that can make you a crorepati:

Aadhaar Not Mandatory For Insurance, Says IRDAI

Aadhar is not mandatory for the (insurance) sector but is the most simple one, IRDAI, the insurance sector regulator said. Insurance Regulatory and Development Authority of India (IRDAI) today said though Aadhar is not a mandatory requirement for Know Your Customer (KYC) in the insurance sector, it is the most simple form of KYC document. “Aadhar is not mandatory for the (insurance) sector but is the most simple one. On the government level they are creating a platform for all the KYC.

Aadhaar data hack: IIT Kharagpur graduate arrested, earns Rs 40 lakh a year at Ola

An IIT Kharagpur graduate, Abhinav Srivastava, who allegedly hacked Aadhaar data has been arrested by Bengaluru Police. According to investigation, Srivastava had gained access to the repository of the Unique Identification Development Authority of India’s (UIDAI) Aadhaar project through the Digital India e-hospital portal. The 31-year-old hails from Uttar Pradesh and was arrested in connection with a complaint filed by the UIDAI on July 26, according to Indian Express. Police said the complaint against Srivastava stated that he accessed UIDAI data without authorisation between January 1 and July 26 for an app called ‘eKYC Verification’.