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Union Minister of Labour and Employment <keyword id="19906409" type="General" weightage="20" keywordseo="mansukh-mandaviya" source="keywords">Mansukh Mandaviya</keyword> and Chairperson of the Central Board of Trustees, EPF, have given the green light to the proposal for a Centralised <keyword id="23037839" type="General" weightage="100" keywordseo="Pension-Payment-System" source="keywords">Pension Payment System</keyword> (<keyword id="23039389" type="General" weightage="20" keywordseo="CPPS" source="keywords">CPPS</keyword>) under the Employees' Pension Scheme, 1995. According to the Ministry of Labour and Employment, this initiative represents a major advancement by establishing a national-level centralised system, allowing pension disbursement through any bank or branch across India. Commenting on this development, Mandaviya stated, "The approval of the Centralised Pension Payment System (CPPS) marks a significant milestone in the modernization of the <keyword id="19966712" type="General" weightage="20" keywordseo="EPFO" source="keywords" meta.keywordsubtype="org" meta.entityname="EPFO" meta.hostid="83" meta.entityid="EPFO">EPFO</keyword>. By enabling pensioners to receive their pensions from any bank, any branch, anywhere in the country, this initiative addresses the long-standing challenges faced by pensioners and ensures a seamless and efficient disbursement mechanism." He added, "This is a crucial step in our ongoing efforts to transform the EPFO into a more robust, responsive, and tech-enabled organisation, committed to serving the needs of its members and pensioners better." The CPPS is expected to benefit over 7.8 million <keyword id="21992385" type="General" weightage="20" keywordseo="EPS-Pensioners" source="keywords">EPS pensioners</keyword> of EPFO. By leveraging advanced IT and banking technologies, it aims to provide a more efficient and user-friendly experience for pensioners. The CPPS will also ensure seamless pension disbursement across India, eliminating the need to transfer Pension Payment Orders (PPO) when a pensioner relocates or changes their bank or branch. This will be a significant relief for pensioners who move to their hometowns post-retirement. This facility will be launched on January 1, 2025, as part of EPFO's ongoing <keyword id="23015602" type="General" weightage="20" keywordseo="IT-Modernization" source="keywords">IT modernization</keyword> project, Centralised IT Enabled System (CITES 2.01). In the following phase, CPPS will enable a smooth transition to an <keyword id="20028363" type="General" weightage="20" keywordseo="Aadhaar-based-Payment-System" source="keywords">Aadhaar-based payment system</keyword> (ABPS). The CPPS marks a significant departure from the current decentralised pension disbursement system, where each EPFO Zonal/Regional Office maintains separate agreements with only 3-4 banks. Pensioners will no longer need to visit branches for verification at the start of their pension, as it will be credited immediately upon release. Additionally, EPFO anticipates a significant reduction in disbursement costs with the new system.

EPS Pensioners to get pension from any bank, any branch, anywhere in India from January 1, announces Mansukh Mandaviya

The taxpayers and tax professionals made their compliances in time, leading to a surge in the filing of Income-tax Returns (<keyword id="20458564" type="General" weightage="20" keywordseo="ITRs" source="keywords">ITRs</keyword>), which resulted in a new record of ITRs filed till <keyword id="22468495" type="General" weightage="20" keywordseo="July-31" source="keywords">July 31</keyword>, 2024. July 31 was the last due date for filing the <keyword id="19948101" type="General" weightage="100" keywordseo="income-tax-returns" source="keywords">income tax returns</keyword>, without having to pay any penalties. The total number of ITRs for assessment year 2024-25 filed till July 31, 2024 is more than 7.28 crore, which is 7.5% more than the total ITRs for assessment 2023-24 (6.77 crore) filed, a <keyword id="19908390" type="General" weightage="20" keywordseo="Ministry-of-Finance" source="keywords" meta.keywordsubtype="org" meta.entityname="Ministry of Finance" meta.hostid="261" meta.entityid="Ministry of Finance">Ministry of Finance</keyword> release stated on Friday. An increasing number of taxpayers have opted for the <keyword id="19935168" type="General" weightage="20" keywordseo="New-Tax-Regime" source="keywords">new tax regime</keyword> this year, the <keyword id="19900485" type="General" weightage="20" keywordseo="finance-ministry" source="keywords">finance ministry</keyword> said. Out of the total ITRs of 7.28 crore that have been filed, 5.27 crore have been filed in the new tax regime, as compared to 2.01 crore filed in the old tax regime. Thus, about 72% of taxpayers have opted for the new tax regime, while the rest 28% continue to be in the old tax regime. The filing of ITRs peaked on July 31, 2024 (due date for salaried taxpayers and other non-tax audit cases) with over 69.92 lakh ITRs being filed on a single day. The <keyword id="20404575" type="General" weightage="20" keywordseo="e-filing-portal" source="keywords">e-filing portal</keyword> also observed its highest per hour rate of 5.07 lakh of ITR filing between 7:00 pm to 8:00 pm on July 31. A total of 58.57 lakh ITRs from first time filers were reported, a fair indication of widening of tax base. "A lot of emphasis was provided to educate taxpayers about old and new tax regimes. FAQs and educational videos on the same were designed and uploaded on the e-filing portal," the ministry said. Focused outreach campaigns were carried out on social media to encourage the taxpayers to file their ITRs early. Along with this, unique creative campaigns were also carried out on different platforms. Informational videos in 12 vernacular languages, apart from English and Hindi, were displayed on digital platforms. The ministry said it is encouraging to note that over 6.21 crore ITRs have been e-verified, out of which more than 5.81 crore are through Aadhaar-based OTP (93.56% ). Of the e-verified ITRs, more than 2.69 crore ITRs for the 2024-2025 have been processed (43.34%) till July 31, 2024. Note that e-verification is the final step in filing your ITR. If you do not e-verify your ITR within 30 days of filing it, your ITR will stand invalid. The e-filing Helpdesk team has handled approximately 10.64 lakh queries from taxpayers during the year up to July 31, supporting the taxpayers proactively during the peak filing period. Taxpayers are also requested to verify their unverified ITRs if any, within 30 days of filing the ITR. Taxpayers are urged, who for any reason, missed filing their ITR within the due date, to complete their filing expeditiously.

51 lakh, or 7.5% more Indians filed income tax returns this year; 72% of taxpayers opted new regime, notes FinMin data

<bulletContentEmbed name="B07KM9LH13" columns="1"><bulletContentHeading name="B07KM9LH13_head"><div type="image" title="Multifunctional" msid="87260167" hostid="261"></div></columnHeadThumb>B07KM9LH13</columnHeadTitle></columnHead></bulletContentHeading><bulleteContentBody name="B07KM9LH13_body"><bulletContentRow name="B07KM9LH13_3011776687981788"><bulletContentRowHeading><bulletContentRowHead col="1">Mantra MFS100 Biometric Fingerprint Scanner</bulletContentRowHead></bulletContentRowHeading><bulletContentRowBody><bulletContentRowCell col="1">The Mantra MFS100 Biometric fingerprint scanner comes with an optical sensor that is said to be scratch-free. The sensor is also said to be resistant to scratches, impact, vibration and electrostatic shock. It is UIDAI certified, and the sensor surface is said to have the Lowest False Rejection Rate (FRR) and False Acceptance Rate (FAR).</bulletContentRowCell></bulletContentRowBody></bulletContentRow><bulletContentRow name="B07KM9LH13_0531944698342455"><bulletContentRowHeading><bulletContentRowHead col="1"></bulletContentRowHead></bulletContentRowHeading><bulletContentRowBody><bulletContentRowCell col="1">This fingerprint scanner can be used for authentication, identification and verification.</bulletContentRowCell></bulletContentRowBody></bulletContentRow></bulleteContentBody></bulletContentEmbed> <bulletContentEmbed name="B08F5GMSW3" columns="1"><bulletContentHeading name="B08F5GMSW3_head"><div type="image" title="User friendly" msid="87260185" hostid="261"></div></columnHeadThumb>B08F5GMSW3</columnHeadTitle></columnHead></bulletContentHeading><bulleteContentBody name="B08F5GMSW3_body"><bulletContentRow name="B08F5GMSW3_6584766357090887"><bulletContentRowHeading><bulletContentRowHead col="1">Time Office Startek FM220U Fingerprint Scanner</bulletContentRowHead></bulletContentRowHeading><bulletContentRowBody><bulletContentRowCell col="1">The Time Office Startek fingerprint scanner features a USB Type-C port so you can connect it to smartphones and use it with the AadhaarPAY smartphone app. It is also designed to verify smeared, scarred, stained and even smudged fingers. This fingerprint scanner is also Aadhaar enabled and STQC certified so you can use it with many Aadhaar government projects.</bulletContentRowCell></bulletContentRowBody></bulletContentRow><bulletContentRow name="B08F5GMSW3_3739961807121776"><bulletContentRowHeading><bulletContentRowHead col="1"></bulletContentRowHead></bulletContentRowHeading><bulletContentRowBody><bulletContentRowCell col="1">It’s also easy to configure and operate and is said to allow fast scanning with non-distorted image quality.</bulletContentRowCell></bulletContentRowBody></bulletContentRow></bulleteContentBody></bulletContentEmbed> <bulletContentEmbed name="B07K2F37PK" columns="1"><bulletContentHeading name="B07K2F37PK_head"><div type="image" title="Budget friendly" msid="87260205" hostid="261"></div></columnHeadThumb>B07K2F37PK</columnHeadTitle></columnHead></bulletContentHeading><bulleteContentBody name="B07K2F37PK_body"><bulletContentRow name="B07K2F37PK_5768357304356462"><bulletContentRowHeading><bulletContentRowHead col="1">Startek FM220 Fingerprint Scanner</bulletContentRowHead></bulletContentRowHeading><bulletContentRowBody><bulletContentRowCell col="1">This fingerprint scanner is also UIDAI certified so it can be used for Aadhaar authentication. It is said to offer a fast scanning speed, and non-distorted image quality. The Startek FM220 fingerprint scanner is also said to easily detect fingerprints that are smeared, scarred, stained or smudged.</bulletContentRowCell></bulletContentRowBody></bulletContentRow><bulletContentRow name="B07K2F37PK_4631237848254800"><bulletContentRowHeading><bulletContentRowHead col="1"></bulletContentRowHead></bulletContentRowHeading><bulletContentRowBody><bulletContentRowCell col="1">In addition to Aadhaar, it can be used for Apna CSC, NDLM, DigiLocker, and Jeevan Pramaan.</bulletContentRowCell></bulletContentRowBody></bulletContentRow></bulleteContentBody></bulletContentEmbed> <bulletContentEmbed name="B01N6NNSMX" columns="1"><bulletContentHeading name="B01N6NNSMX_head"><div type="image" title="Also consider" msid="87260221" hostid="261"></div></columnHeadThumb>B01N6NNSMX</columnHeadTitle></columnHead></bulletContentHeading><bulleteContentBody name="B01N6NNSMX_body"><bulletContentRow name="B01N6NNSMX_8173395248564479"><bulletContentRowHeading><bulletContentRowHead col="1">SecuGen Hamster Pro 20 Biometric FingerPrint Scanner</bulletContentRowHead></bulletContentRowHeading><bulletContentRowBody><bulletContentRowCell col="1">The Hamster Pro 20 biometric fingerprint scanner from SecuGen has a lightweight design as it weighs only 80 grams. It is an optical USB fingerprint sensor with 500 DPI resolution. The fingerprint scanner has an auto-on feature that automatically detects the finger when it’s placed on the reader. It is also equipped to detect difficult-to-scan fingers like those that are dry, moist, aged or scarred.</bulletContentRowCell></bulletContentRowBody></bulletContentRow><bulletContentRow name="B01N6NNSMX_9738790153978491"><bulletContentRowHeading><bulletContentRowHead col="1"></bulletContentRowHead></bulletContentRowHeading><bulletContentRowBody><bulletContentRowCell col="1">The glass plate on the fingerprint scanner is resistant to scratches, impact, corrosion, and electrostatic shock.</bulletContentRowCell></bulletContentRowBody></bulletContentRow></bulleteContentBody></bulletContentEmbed> <bulletContentEmbed name="B07VCYC1RD" columns="1"><bulletContentHeading name="B07VCYC1RD_head"><div type="image" title="Also consider" msid="87260292" hostid="261"></div></columnHeadThumb>B07VCYC1RD</columnHeadTitle></columnHead></bulletContentHeading><bulleteContentBody name="B07VCYC1RD_body"><bulletContentRow name="B07VCYC1RD_8681187223213582"><bulletContentRowHeading><bulletContentRowHead col="1">Radium Box Syncbyte Microconn MC01 Fingerprint Scanner</bulletContentRowHead></bulletContentRowHeading><bulletContentRowBody><bulletContentRowCell col="1">The Radium Box Syncbyte Microconn MC01 fingerprint scanner is a CMOS-based optical reader. It is said to capture images and verify fingerprints with high speed. It can be used for enrollment and attendance verification applications as a standalone or embedded device.</bulletContentRowCell></bulletContentRowBody></bulletContentRow><bulletContentRow name="B07VCYC1RD_7657568665181998"><bulletContentRowHeading><bulletContentRowHead col="1"></bulletContentRowHead></bulletContentRowHeading><bulletContentRowBody><bulletContentRowCell col="1">The fingerprint scanner also comes with RD Service registration for one year so it can be used for UIDAI services.</bulletContentRowCell></bulletContentRowBody></bulletContentRow></bulleteContentBody></bulletContentEmbed>

Fingerprint scanners for reliable biometric verification and tracking

<ul><li>Unique ID to help identify passengers and make boarding process for domestic flights simpler. </li><li>The unique ID will be biometric-based. </li><li>Vijayawada and Varanasi among the three airports where <keyword id="6549368" type="UNKNOWN" weightage="20" keywordseo="paperless-boarding">paperless boarding</keyword> will be tested. </li></ul>With the Indian Railways increasing the fare for air-conditioned coaches, many people who preferred trains to flights have now started travelling by air. Thanks to the competition between different airlines, flight ticket prices have become affordable and in many cases, even cheaper than what train journeys would cost. Why waste hours on a train when you can pay lesser and get to your destination sooner? The process of boarding and deboarding a plane, however, remains tiresome. With many ditching trains for flights now, airports have become as crowded as railway stations. Naturally, the queues for boarding passes and for security checks have become longer. But there’s some good news! The government might soon implement a new feature -- a biometric-based unique ID -- that will make the boarding process for domestic flyers smooth. A unique identification number, similar to the Aadhaar, will soon let commuters dodge the boarding processes for domestic flights. A technical team from the Airport Authority of India (AAI) along with four private metro airports where the new scheme is set to be tested, finalized a completely paperless boarding process for domestic flyers. The team has also finalized and proposed the format for biometric-based identification called “Digi-Yatra” (DY). Under the new process, each commuter will be allocated a unique ID from the aviation ministry portal. This unique ID issued will also be linked to the person’s biometrics. Passengers wishing to use the new service will then have to provide the booking site with this ID. Getting the new ID will be optional for passengers. The existing process will continue to remain in place. How do you register for <keyword id="6549964" type="UNKNOWN" weightage="20" keywordseo="digi-yatra">digi-yatra</keyword> ID? A Digi-Yatra link will be made available on the Air Sewa-II portal soon. Passengers can register there. The verification of the individuals will be done using government-issued ID proof like Aadhaar, driving licence etc.. After registration, whenever the registered person visits the airport the next time, he/she needs to carry the given ID proof and a photograph with them. Iris scans and the details will be captured at the airport. Once that’s done, you can say bye to the long queues for boarding passes. After biometric authentication of the traveller, the E-gate will open. The passenger will be able to avail all the services like check-in, security check and boarding using QR codes and biometrics. Airport websites will also be updated to accommodate the new feature after the proposal is approved by the ministry. The government has selected three airports to test the new scheme. “We have selected three airports, including Varanasi and Vijayawada, for rolling out DY,” <a href="https://timesofindia.indiatimes.com/business/india-business/unique-id-to-enable-paperless-boarding-for-domestic-flyers/articleshow/64264988.cms">the AAI chief said.</a>

The Indian government is trying to make airline boarding passes obsolete

As reported earlier, the Indian government has planned to make <a href="http://www.businessinsider.in/You-may-soon-avail-government-services-just-sitting-at-home-Heres-how/articleshow/53447749.cms">Aadhaar-enabled smartphones</a>, with which users would be able to self-authenticate and let businesses and banks verify the identity of their clients. This would also help in the government’s aim of a cashless society. 
 While applauding this plan Nandan Nikelani, former chairman of <keyword id="6355252" type="CITY" weightage="100" keywordseo="UIDAI">UIDAI</keyword> told <a href="http://economictimes.indiatimes.com/industry/banking/finance/banking/aadhaar-enabled-smartphones-will-ease-money-transfer/articleshow/53625690.cms">ET </a>that, "Iris and fingerprint sensors are now becoming a standard feature in smartphones anyway, and this requirement will only take a minor tweak to the operating system. Once enabled, people will be able to use phones to do self-authentication and KYC (know your customer)." 
 
In July, senior executives of UIDAI and smartphone companies met to discuss ways to allow smartphones let citizens authenticate their fingerprints and iris on the phone, so that they could avail government services from the comfort of their homes. 
 
The most immediate use for these smartphones would be the Unified Payment Interface (UPI), a new payment system which would allow money transfer between any two parties by simply using their mobile phones and a virtual payment address. 
 
"The two-factor authentication in UPI is now being done with mobile phone as one factor, and MPIN as the second factor. But once you have Aadhaar authentication on the phone, then the second factor can be biometric authentication through Aadhaar," said Nilekani. 
 
With time, Aadhaar authentication will also be made open to third party apps, said another person familiar with the ongoing discussions on the condition of anonymity. 
 
This would let users allow apps to access their biometric and iris scans, just like they grant access to other features like camera, contacts, SMS etc. However, from their end, handset makers have raised security concerns about using iris scan for Aadhar authentication. 
 
"The primary challenge lies in safe storing of the iris scan between the time it is captured by the camera and then sent to UIDAI server seeking authentication," said an industry insider. 
 For this, the he proposal includes a "hardware secure zone" which would encrypt <keyword id="441301" type="UNKNOWN" weightage="100" keywordseo="biometric-data">biometric data</keyword> before sending it out. However, even this isn’t a foolproof idea. 
 
"Unfortunately, from the biometric sensor the data goes to the hardware secure zone via the operating system. Therefore, the biometric data can be intercepted by the operating system before it is sent to the hardware secure zone," said Sunil Abraham, executive director at Bengaluru-based research organisation, the Centre for Internet and Society. 
 
To this, Nilekani said, "the reluctance to make changes at the vendor level is mainly coming from a desire for control of biometric data for strategic and commercial purposes. Privacy and security are bogus reasons." He added that both ends, the handset and the Aadhaar database, will be using the highest level of encryption. 
 
<a href="http://www.aadhaarnews.com/wp-content/uploads/2015/10/Aadhar-DBT-780x445.jpg">Image source</a>

And now, Aadhaar-enabled smartphones for easy verification and money transfer

Customers will now be able to use their AADHAR cards to get their new mobile connections instantly activated, as the government has approved electronic-Know Your Customer (<keyword id="1920769" type="UNKNOWN" weightage="100" keywordseo="e-KYC">e-KYC</keyword>) rules using <keyword id="546774" type="UNKNOWN" weightage="100" keywordseo="Aadhaar-cards">Aadhaar cards</keyword>. 
 
In a notification issued on Tuesday, the telecom department (DoT) said, "After successful completion of Proof of Concept to use Aadhaar e-KYC service for issuing mobile connections to subscribers, it has been decided to launch the 'Aadhaar' e-KYC service across all the Licensed Service Areas including J&amp;K, North East and Assam for issuance of mobile connections as an alternative process to the existing PoI/ PoA document based processes." 
 DoT added that customers will now be able to online authorize <keyword id="6355252" type="CITY" weightage="100" keywordseo="UIDAI">UIDAI</keyword> through Aadhaar authentication using their Aadhaar numbers and biometrics so that their demographic data and digitally signed photograph can be provided to the service provider. 
 
"As per UIDAI, digitally signed electronic KYC data provided by UIDAI is machine readable, making it possible for the Licensees to directly store it as the customer record in their database for purposes of issuing a mobile connection," the notification read. 
 
Also, service providers will be allowed to appoint or employ franchisee, agents, distributors and employees who will provide these services. 
 
"The Licensee (service providers) shall keep proper control over them and the Licensee shall be liable for the acts done by its franchisee, agents, distributors and employees in the provisioning of service," the department added. 
 
Bharti Airtel, India’s leading telco will probably roll out e-KYC using AADHAR card from this week itself, while Vodafone India and Idea Cellular, ranked 2nd and 3rd respectively, will be doing so in coming weeks. 
 
All three leading telcos had partnered with DoT so that AADHAR based e-KYC solutions can be used for verification, and also went ahead to test it successfully in four telecom circles. 
 
<a href="http://www.livemint.com/rf/Image-621x414/LiveMint/Period1/2015/05/15/Photos/chennaiairtel-k1rD--621x414@LiveMint.jpg">Image source</a>

Get instant mobile connections with Aadhaar e-KYC service

In order to completely eliminate the need of sending the paper acknowledgement, called ITR-V through post to the <keyword id="2947836" type="UNKNOWN" weightage="100" keywordseo="I-T-Central-Processing-Centre">I-T Central Processing Centre</keyword> in Bengaluru, the <keyword id="65338" type="ORGANIZATION" weightage="100" keywordseo="Income-Tax-Department">Income Tax Department</keyword> today launched its ambitious One Time Password (<keyword id="510437" type="COMPANY" weightage="100" keywordseo="OTP">OTP</keyword>) based e-filing verification system. 

	The facility can be accessed using internet banking, Aadhaar number, ATM and email.
 According to the rules notified in this regard by the Central Board of <keyword id="57161" type="CITY" weightage="100" keywordseo="Direct-Taxes">Direct Taxes</keyword> (CBDT) today, any taxpayer, whose income is Rs 5 lakh or below per annum and has no refund claims, he or she can straightaway generate the 'Electronic Verification Code' (EVC) for e-filing and validating their <keyword id="6354751" type="COMPANY" weightage="100" keywordseo="Income-Tax">Income Tax</keyword> Return (ITR) through their registered mobile number and e-mail id with the department. 

	However, this most simplified option, will be subject to certain "restrictions" which will be prepared by the taxman based on the concerned taxpayer's "risk criteria and profile" in a case-to-case basis. 
 

	"This simply means that if the department has some adverse observation against the said PAN number with income less than Rs 5 lakh, he or she will not be allowed to do the verification directly through their email and mobile number alone and such cases will have to go through the other established procedures in this regard like linkup through Aadhaar database, internet baking or via the ATM," a senior official explained. 
 

	Once logged in on the banking portal, the taxpayer will be sent the EVC to his mobile number provided in the official e-filing web portal of the department which they will put in their ITR for final submission. 

	 
	 
	(Image credits: btvin)

OTP based e-filing verification system launched for taxpayers

(Image Credit- IANS) <ul><li>India will modify the Telegraph Act and the Prevention of Money Laundering Act (PMLA) that will allow people to link their <keyword id="144117" type="ORGANIZATION" weightage="20" keywordseo="AADHAAR">Aadhaar</keyword> with their bank account and mobile number voluntarily. </li><li>A proposal from India’s Ministry of Electronics and Information Technology has received the approval from PM Narendra Modi. </li><li>Through a ‘virtual’ ID, private companies--banks and telecom companies-- will be able to access the biometric data. </li></ul>Just months after India’s Supreme Court prohibited private companies from asking customers their Aadhaar data for authentication, the Indian government has approved changes in two key laws that will make legal the voluntary submission of Aadhaar. The Indian government is amending the Telegraph Act and the Prevention of Money Laundering Act (PMLA), to include Aadhaar in the e-KYC options under the Telegraph Act. Similarly, it will allow people to link their Aadhaar and bank accounts for KYC, but on a voluntary basis under the PMLA act. The Ministry of Electronics and Information Technology had recently floated a proposal to recognize a “virtual ID” so people will not have to disclose their original Aadhaar number. The authentication through Aadhaar will be permissible for mobile phone SIM cards and obtaining new bank accounts, IANS reported citing a government source. “But this shall not be the only option. Apart from Aadhaar KYC, passport and any other document the government may notify can also be used," said the source. Earlier this year, the Supreme Court of India revoked the rights of all private companies to access Aadhaar database for authentication. The order to de-link the Aadhaar database from e-KYC came as a major setback for telecom operators and banks in India that had come to rely on Aadhaar data to fulfill regulatory requirements such as “Know Your Customer” and increasing their customer acquisition costs. The proposed amendments are aimed at providing the necessary legal safety that will help the government to detect cases of money laundering, ET reported citing government officials. India has also decided to give a parallel platform for digital authentication which has been named as "offline verification" through which authentication can be done by using QR code. In addition, children’s Aadhaar data use will require parental consent. Since the Supreme Court ban, the number of Aadhaar-related authentications fell by nearly a third to 824 million in November compared to March this year. Additionally, Aadhaar-based authentication through e-KYC —using fingerprints or iris —fell by nearly half to nearly 154 million in November from 370 million in March, Economic Times <a href="https://www.businessinsider.in/indias-unique-identification-program-aadhaar-sees-a-big-drop-in-authentication-use-after-supreme-court-verdict/articleshow/66931607.cms">reported</a>. With IANS inputs See also: <a href="https://www.businessinsider.in/indias-unique-identification-program-aadhaar-sees-a-big-drop-in-authentication-use-after-supreme-court-verdict/articleshow/66931607.cms">India’s unique identification program Aadhaar sees a big drop in ‘authentication’ use after Supreme Court verdict</a> <a href="https://www.businessinsider.in/the-aadhaar-id-programme-is-here-to-stay-but-with-some-modifications/articleshow/65961826.cms">The Aadhaar ID programme is here to stay but with some modifications</a>

India will amend laws to allow voluntary submission of citizens’ biometric Aadhaar ID to private companies

Mumbai, May 18 () In a first, private sector lender Kotak Mahindra Bank on Monday launched a video-based KYC that will make it easier to open an account remotely, especially during the COVID-19 pandemic. The Reserve Bank of India (RBI) earlier this year came out with detailed guidelines making video-based Know Your Customer (KYC) possible, after the banking system, which used to depend on Aadhaar data for remote account opening, got hit by the Aadhaar judgment of the Supreme Court. Customers will need to share Aadhaar and PAN numbers as part of the account opening process under the video KYC system to open the 'Kotak 811 savings account', an official statement said adding that the facility will be used only for the savings accounts on a pilot basis. Once a customer requests to open an account on the website, a bank executive will come on the video call with the customer and will involve the customer signing on a blank paper, it said adding that the entire video will be saved by the bank. In the earlier system, a customer's Aadhaar made it much easier to 'establish' her identity and helped the KYC requirements. Its Group President (Consumer Banking) Shanti Ekambaram said that in the new normal after COVID-19, video KYC can prove to be a game changer where customer verification is completed from the comfort of one's home or office without the need for a physical interaction. Only Indian citizens residing in India during the account opening process are eligible for video KYC, it said adding that the facility is available only for new to Kotak customers. AA HRS

Kotak Mahindra Bank launches video-based KYC for opening of accounts remotely

<ul><li>X has started testing a paid subscription program for all new users in two countries.</li><li>New users will have to pay a fee to be able to interact with other users.</li><li>Here’s everything you need to know about the Not a Bot program.</li></ul> <keyword id="6355315" type="General" weightage="20" keywordseo="elon-musk" source="Orion">Elon Musk</keyword> in a live-stream has mentioned that X (formerly Twitter) is moving towards becoming a paid platform for all users. X has announced that the company is now testing a new program in two countries. The program, dubbed as “Not a Bot” has initially been announced in two countries – New Zealand and Philippines. Users creating a new account in these countries will have to pay an annual fee of $1 to interact with other users. Let’s understand what the Not a Bot program is and what impact it may have on new users – <cmsannotation type="cmsannotation" annotationid="Mobile number verification" comment="subhead" text="Mobile number verification">Mobile number verification</cmsannotation> The first thing users will have to do under the Not a Bot program is to verify their phone number. This will strictly apply to new users as well. <cmsannotation type="cmsannotation" annotationid="Subscription plan" comment="subhead" text="Subscription plan">Subscription plan</cmsannotation> Once the user has authenticated their mobile number, they will be asked to select a subscription plan. The user will have three options – <ul><li>$1 plan</li><li>X Premium</li><li>Verified Organisations</li></ul><cmsannotation type="cmsannotation" annotationid="Here’s what you get with the $1 plan" comment="subhead" text="Here’s what you get with the $1 plan">Here’s what you get with the $1 plan</cmsannotation> The $1 plan, which is the cheapest option among the three subscription plans, will allow you to perform the following actions – post content, like posts, reply to posts, quote or repost posts and bookmark posts. It is noteworthy that these are all the things that users can currently do for free. <cmsannotation type="cmsannotation" annotationid="Can new users create an account for free?" comment="subhead" text="Can new users create an account for free?">Can new users create an account for free?</cmsannotation> While new users will be able to opt for a free account, their actions on the platform will be very limited. The users who do not opt for a subscription plan will only be able to read posts, watch videos and follow accounts. <cmsannotation type="cmsannotation" annotationid="Will existing users have to pay $1?" comment="subhead" text="Will existing users have to pay $1?">Will existing users have to pay $1?</cmsannotation> X has mentioned that existing users will not be affected within this test and won’t have to pay any subscription fees. But, from the wording, “within this test”, it can be interpreted that the company is considering charging users a nominal fee to be able to interact on the platform. Musk has been vocal about eliminating bots on the platform and may consider charging a nominal fee to reduce bots on the platform. <cmsannotation type="cmsannotation" annotationid="Why is X doing this?" comment="subhead" text="Why is X doing this?">Why is X doing this?</cmsannotation> As per the platform, this move is not aimed at earning a profit but to reduce spam, manipulation of the platform and reduce bot activity. “This new test was developed to bolster our already successful efforts to reduce spam, manipulation of our platform and bot activity, while balancing platform accessibility with the small fee amount. It is not a profit driver,” X said in a<a href="https://twitter.com/Support/status/1714429406192582896"> post</a>. “It’s the only way to fight bots without blocking real users. This won’t stop bots completely, but it will be 1000X harder to manipulate the platform,” Elon Musk said in a post. <cmsannotation type="cmsannotation" annotationid="Will this program be rolled out globally?" comment="subhead" text="Will this program be rolled out globally?">Will this program be rolled out globally?</cmsannotation> While X has not announced plans for a global rollout, like most features that have been tested on X, including the paid verification feature will likely be rolled out globally once the testing has been done. This could be a few weeks or a few months, based on the results of the testing. SEE ALSO: <a href="https://www.businessinsider.in/tech/mobile/news/global-smartphone-shipments-decline-for-the-ninth-consecutive-quarter-expected-to-bounce-back-in-festive-season/articleshow/104487576.cms">Smartphone makers should be a worried lot as global shipments decline to a decade low</a> <a href="https://www.businessinsider.in/india/news/explained-how-to-lock-and-unlock-your-aadhaar-biometrics-to-prevent-frauds/articleshow/104462114.cms">Explained: How to lock and unlock your Aadhaar biometrics to prevent frauds</a> <a href="https://www.businessinsider.in/tech/news/passkeys-may-soon-replace-passwords-everything-you-need-to-know/articleshow/104361209.cms">Passkeys may soon replace passwords - everything you need to know</a>

Fight against bots? Musk says new users on X will soon have to pay $1 to create an account

New Delhi, Advocating DPI's potential in helping nations leapfrog digital transformation, a <keyword id="42981" type="General" weightage="20" keywordseo="G20" source="Orion">G20</keyword> document prepared by <keyword id="6354424" type="General" weightage="20" keywordseo="world-bank" source="Orion">World Bank</keyword> has praised India's approach in unlocking the power of digital public infrastructure, including Aadhaar and UPI, for financial inclusion. The impact of DPI goes beyond inclusive finance, to supporting health, education, and sustainability, says the foreward of the document 'G20 policy recommendations for advancing financial inclusion and productivity gains through DPI'. "The India stack exemplifies this approach, combining digital ID, interoperable payments, a digital credentials ledger, and account aggregation. In just six years, it has achieved a remarkable 80 per cent financial inclusion rate-a feat that would have taken nearly five decades without a DPI approach," it said. India's digital ID system Aadhaar, digital payment system UPI, data-exchange platform Digilocker and its other showcase platforms have found a special mention among the examples of DPIs "all of which play a leading role in the advancement of financial inclusion in many countries". Other systems mentioned were Singapore's Singpass, the Philippines' PhilSys, and the UAE's UAE-Pass among the digital ID systems; Brazil's Pix, India's UPI, Turkiye's FAST, the European Union's TIPS, and Thailand's PromptPay under fast payment systems; as well as Estonia's X-Road, Singapore's MyInfo, Australia's Customer Data Right, and the UK's Open Banking. Put simply, Digital Public Infrastructure (DPI) refers to blocks or platforms such as digital identification, payment infrastructure and data exchange solutions that help countries deliver essential services to their people, empowering citizens and improving lives by enabling digital inclusion. DPIs are interoperable, open, and inclusive systems supported by technology and provide essential, society-wide, public and private services that play a critical role in accelerating this digital transformation in an inclusive manner. The document also cites India's Data Empowerment and Protection Architecture (DEPA) and India's Account Aggregator (AA) Framework. On Fast Payment Systems, it noted that in some countries, such as India and Brazil the adoption has been "particularly quick and transformative". UPI, it said, has been widely adopted, benefitting from a user-friendly interface, open banking features, and private sector participation. "The UPI platform has gained significant popularity in India; more than 9.41 billion transactions valuing about Rs 14.89 trillion were transacted in May 2023 alone. For the fiscal year 2022-23, the total value of UPI transaction was nearly 50 per cent of India's nominal GDP," the report said. The document goes on to say that an aspect that makes DPIs unique, and that can further reduce existing constraints, is their ability to complement each other or be integrated in end-to-end workflows. One such service enabled by the interaction of open APIs and digital ID systems is the e-KYC or remote authentication services. A case in point is India's Aadhaar biometric identification system, which covers over one billion people and supports APIs, enables remote identification and authentication, it observes. Financial service providers can thus authenticate an individual's identity remotely, even by using selfie-based mechanisms to substitute for in-person customer due diligence verification requirements, it said. India has also figured prominently in the section on 'DPIs' Potential Added Value for the Private Sector', that cites how FSPs and MSMEs could benefit from these digital networks. "For some nonbank financial companies (NBFCs) in India, the AA ecosystem enabled an 8 per cent higher conversion rate in SME lending, a 65 per cent savings in depreciation costs, and a 66 per cent reduction in costs related to fraud detection. According to industry estimates, banks' costs of onboarding customers in India decreased from USD 23 to USD 0.1 with the use of DPI," it said. Through open application programming interface (APIs), India's Open Credit Enablement Network (OCEN) enables MSMEs participating in digital markets to secure credit by using information about their business history, rather than pledging physical assets as collateral. According to the document, in India, the implementation of various DPIs is considered to have played a critical role in the increase in account ownership from just one-fourth of adults in 2008 to almost 80 per cent a decade later "a journey that it is estimated would have taken up to 47 years without DPIs".

You Searched For "aadhaar based verifications" and got 11 results

EPS Pensioners to get pension from any bank, any branch, anywhere in India from January 1, announces Mansukh Mandaviya

ANI

51 lakh, or 7.5% more Indians filed income tax returns this year; 72% of taxpayers opted new regime, notes FinMin data

ANI

Fingerprint scanners for reliable biometric verification and tracking

Marcia Sekhose

The Indian government is trying to make airline boarding passes obsolete

BI India Bureau

And now, Aadhaar-enabled smartphones for easy verification and money transfer

BI India Bureau

Get instant mobile connections with Aadhaar e-KYC service

BI India Bureau

OTP based e-filing verification system launched for taxpayers

BI India Bureau

India will amend laws to allow voluntary submission of citizens’ biometric Aadhaar ID to private companies

BI India Bureau

Kotak Mahindra Bank launches video-based KYC for opening of accounts remotely

PTI

Fight against bots? Musk says new users on X will soon have to pay $1 to create an account

Sourabh Jain

World Bank praises India's digital infrastructure for its transformative potential

PTI

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