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Leading fintech platform PhonePe on Wednesday announced it has enabled <keyword id="6358921" type="General" weightage="100" keywordseo="upi" source="Orion">UPI</keyword> activation using Aadhaar-based OTP authentication. PhonePe is the first UPI Third Party Application Provider (TPAP) App to roll out the Aadhaar-based UPI onboarding flow that will now enable several crore Indians to become a part of the UPI ecosystem, seamlessly and securely for the first time, the company said in a statement. Under the previous UPI onboarding flow, a valid debit card was mandatory to set up a user's <keyword id="4760578" type="General" weightage="50" keywordseo="upi-pin" source="Orion">UPI PIN</keyword> during the UPI registration process, restricting access for a large number of Indian bank account holders who didn't have a debit card handy. The addition of <keyword id="144117" type="General" weightage="80" keywordseo="aadhaar" source="Orion">Aadhaar</keyword> onboarding for UPI will do away with this restriction, and allow previously under-served populations to experience the convenience and benefits of digital payments. "We are excited to be the first fintech platform to offer Aadhaar-based authentication for our users, making the UPI onboarding flows even more simple and inclusive. We believe this is a very progressive move by <keyword id="30067" type="General" weightage="50" keywordseo="rbi" source="Orion">RBI</keyword>, NPCI and UIDAI and is a great example of the digital financial inclusion that UIDAI's Aadhaar program has been able to drive," said <keyword id="12805030" type="General" weightage="50" keywordseo="deep-agrawal" source="Orion">Deep Agrawal</keyword>, Head of Payments at PhonePe. In the new flow, the Aadhaar e-KYC flow will be made part of the UPI onboarding journey on the PhonePe App. Users choosing this option will only need to enter the last 6 digits of their Aadhaar number to initiate the onboarding process. They will then receive an OTP from UIDAI, and their respective bank to complete the authentication process. Post this, customers will be able to access all UPI features such as payments and balance checks on the PhonePe App. "This will help expand the overall UPI ecosystem, and also onboard new customers to the digital payments fold. UPI has become a global exemplar, and countries across the world are looking to implement it. Going forward, we are closely working with NPCI to take UPI international," said Agrawal. With 41.5 crore registered users, one in four Indians is now on PhonePe. The company has also successfully digitised 3.3 crores, of offline merchants, covering 99 per cent of pin codes in the country. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/startups/news/pet-care-startup-supertails-com-raises-10-million-in-series-a-funding/articleshow/95406580.cms">Pet-care startup Supertails.com raises $10 million in Series A funding</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/auto/news/mt-autocraft-forays-into-evs-with-rs-100-cr-funding-to-hire-200-people/articleshow/95406616.cms">MT Autocraft forays into EVs with Rs 100 cr funding, to hire 200 people</a>

PhonePe first player to enable UPI activation with Aadhaar

The government of <keyword id="3658" type="B2BTAGS" weightage="40" keywordseo="india">India</keyword> has made it mandatory for financial institutions like banks, to verify and link <keyword id="144117" type="ORGANIZATION" weightage="20" keywordseo="aadhaar">Aadhaar</keyword> of their customers with their accounts. According to a notification dated June 1, 2017, the deadline for doing this is December 31, 2017 and accounts where this is not done are to be made inoperable after this date. To comply banks are now asking customers to submit their Aadhaar to link the same with their accounts. However, even if you have submitted your Aadhaar details at your branch there is still a possibility that the linkage between the two was not done correctly by the bank or it may be that the bank has not linked Aadhaar with your account because they have misplaced your details. Here's a guide to check whether your Aadhaar has been linked with your bank account- 1. Visit the Aadhaar website - www.uidai.gov.in 2. Click on '<keyword id="4975886" type="ORGANIZATION" weightage="20" keywordseo="check-aadhaar-bank">Check Aadhaar &amp; Bank</keyword> Account Linking Status' 3. Enter your Aadhaar number and security code. Once submitted, an <keyword id="510437" type="ORGANIZATION" weightage="20" keywordseo="otp">OTP</keyword> will be sent to your mobile number registered in the Aadhaar database. 4. Enter the OTP and click on 'Login' 5. On successful login, the website shows whether your Aadhaar number is successfully mapped or not. Alternatively, you can also check this through your mobile. 1. Dial *99*99*1# 2. Enter your 12 digit Aadhaar number 3. Confirm that the digits entered by you is correct 4. On confirmation, it will show you the bank account linked with Aadhaar Points to remember 1. It will only show you the last bank account that has been linked with your Aadhaar. 2. If you have multiple bank accounts, you will have to check the status of the same with the bank. 3. You will be able to use this service only if your mobile number is linked to your Aadhaar.

Here's how you can check if your bank account is linked to Aadhaar

<keyword id="144117" type="ORGANIZATION" weightage="100" keywordseo="AADHAAR">Aadhaar</keyword> is finally getting its teeth into key financial transactions, going by the central bank’s tough stand. The <keyword id="6354335" type="CITY" weightage="100" keywordseo="reserve-bank-of-india">Reserve Bank of India</keyword> has recently asked banks to ensure <keyword id="1953683" type="UNKNOWN" weightage="100" keywordseo="Aadhaar-authentication">Aadhaar authentication</keyword> for card transactions at merchant locations. 
 “All new <keyword id="1953691" type="UNKNOWN" weightage="100" keywordseo="Card-present-infrastructure">card present infrastructure</keyword> has to be enabled for both <keyword id="1953693" type="UNKNOWN" weightage="100" keywordseo="EMV-chip-and-PIN">EMV chip and PIN</keyword> and Aadhaar (<keyword id="1953679" type="UNKNOWN" weightage="100" keywordseo="Biometric-validation">biometric validation</keyword>) acceptance,” the <keyword id="30067" type="ORGANIZATION" weightage="100" keywordseo="RBI">RBI</keyword> stated in a notification on November 26. It also directed banks to issue chip-based cards by November 30 to tackle rising cases of <keyword id="38935" type="PERSON" weightage="100" keywordseo="Fraud">fraud</keyword>. The latest notification follows the recommendations of the Working Group headed by Gowri Mukherjee, global head of digital marketing at <keyword id="127691" type="CITY" weightage="40" keywordseo="Standard-Chartered-Bank">Standard Chartered Bank</keyword>. 
 A rise in fraud cases due to <keyword id="1953714" type="UNKNOWN" weightage="100" keywordseo="Stolen-card-data">stolen card data</keyword> had prompted the RBI to set up a panel in March 2011, which looked into securing card-based transactions through additional layers of authentification such as PINs and <keyword id="102890" type="UNKNOWN" weightage="100" keywordseo="biometrics">biometrics</keyword>. According to the RBI, the recommendations of the Working Group have been examined and the measures have been advised after taking into consideration the developments that took place in the card payment ecosystem as well as in the scalability and effectiveness of Aadhaar over a period of time. 
 <keyword id="1953695" type="UNKNOWN" weightage="100" keywordseo="Euro-pay-MasterCard-Visa">Euro pay MasterCard Visa</keyword> or EMV <keyword id="6428865" type="PERSON" weightage="100" keywordseo="chip">chip</keyword> and <keyword id="6376717" type="COMPANY" weightage="100" keywordseo="PIN">PIN</keyword> authentication involves card information being stored in a chip that is accessible through a PIN or <keyword id="1636984" type="UNKNOWN" weightage="100" keywordseo="Personal-identification-number">personal identification number</keyword>, which replaces a cardholder’s signature. This is in line with global best practices and is currently getting implemented. So is it really essential to come up with an additional security layer by linking the entire process with Aadhaar and its biometric validations? 
 Not for all cards, it seems. “In respect of cards, not specifically mandated by the RBI to adopt <keyword id="1953703" type="UNKNOWN" weightage="100" keywordseo="EMV-norms">EMV norms</keyword>, banks may take a decision whether they should adopt Aadhaar as additional factor of authentication or move to EMV chip and Pin technology for securing the <keyword id="1953704" type="UNKNOWN" weightage="100" keywordseo="Card-present-payment-infrastructure">card present payment infrastructure</keyword>,” said RBI. 
 
Even then, the biometric validation will be mandatory for all new machines/replacements and that means getting infrastructure-ready where no such infrastructure exists. 
 Before we get into more details, let us have a look at Aadhaar’s current functionality and future scope. Launched by the <keyword id="86474" type="ORGANIZATION" weightage="100" keywordseo="Unique-Identification-Authority-of-India">Unique Identification Authority of India</keyword> (<keyword id="6355252" type="CITY" weightage="100" keywordseo="UIDAI">UIDAI</keyword>), Aadhaar cards are essentially identity proofs based on <keyword id="441301" type="UNKNOWN" weightage="100" keywordseo="biometric-data">biometric data</keyword>. These are currently used for opening bank accounts and further ensure that <keyword id="44734" type="ORGANIZATION" weightage="100" keywordseo="Indian-Government">Indian government</keyword>’s welfare payments are routed directly to beneficiaries. 
 But Aadhaar is bound to play a more crucial role and gain a nation-wide runway when the latest RBI directive comes into force. Since both provisions are made mandatory by the RBI, <keyword id="1953676" type="UNKNOWN" weightage="100" keywordseo="Aadhaar-validation">Aadhaar validation</keyword> will have to be facilitated at all new <keyword id="443296" type="UNKNOWN" weightage="100" keywordseo="Point-of-Sale">point of sale</keyword> (<keyword id="88570" type="ORGANIZATION" weightage="100" keywordseo="POS">PoS</keyword>) terminals/ATMs. 
 Although most banks have started rolling out the EMV chip and PIN systems and are deploying new cards to customers, implementing Aadhaar validation will require more time and additional costs. That’s because banks will have to put in place the mechanism for <keyword id="1953708" type="UNKNOWN" weightage="100" keywordseo="Biometric-checks">biometric checks</keyword>, in tune with the system established by the UIDAI. 
 
“This new requirement is a challenge as we have very basic thumb print and reading devices. There is no service provider that manufactures such machines in bulk,” the payments head of a leading private sector bank told Economic Times. As a result, most <keyword id="61519" type="UNKNOWN" weightage="100" keywordseo="Private-banks">private banks</keyword> may stop installing <keyword id="459467" type="UNKNOWN" weightage="100" keywordseo="POS-terminals">PoS terminals</keyword> at merchant outlets, he said. 
 But the worst hit could be the <keyword id="6355548" type="ORGANIZATION" weightage="80" keywordseo="Public-Sector-Banks">public sector banks</keyword> such as the <keyword id="6354731" type="CITY" weightage="80" keywordseo="State-Bank-Of-India">State Bank of India</keyword> and <keyword id="6358007" type="CITY" weightage="80" keywordseo="Bank-of-Baroda">Bank of Baroda</keyword> who are planning to roll out a large number of PoS machines. They will have to start from scratch to enable biometric facilities. 
 In spite of the current <keyword id="1953709" type="UNKNOWN" weightage="100" keywordseo="Gap-in-infrastructure">gap in infrastructure</keyword>, no one can deny the benefits of including biometric data (finger print/retina scan) captured by the UIDAI. This can be effectively used for authentication to protect against both <keyword id="1953712" type="UNKNOWN" weightage="100" keywordseo="Domestic-counterfeit">domestic counterfeit</keyword> and lost &amp; stolen card fraud as the cardholder has to be physically present at the PoS terminal/ATM to authenticate the transaction. Even if the card is counterfeited, the fraudster will not be able to use the card as the biometric data of the customer will be required. 
 Currently, transactions using cards at PoS do not require additional authentication in majority of the cards. However, data stored in <keyword id="1953711" type="UNKNOWN" weightage="100" keywordseo="Magnetic-stripe">magnetic stripe</keyword> is vulnerable to <keyword id="6419130" type="UNKNOWN" weightage="100" keywordseo="skimming">skimming</keyword>. If more and more customers are to be encouraged to use PoS channels, it will surely require securing these transactions through biometric authentication and prevention of <keyword id="6722989" type="UNKNOWN" weightage="100" keywordseo="counterfeiting">counterfeiting</keyword> (skimming) by migrating to chip and PIN. That’s exactly what the RBI is doing although it may take some time to get into action. 
 
With input from Agencies 
Image: Indiatimes

Now RBI Wants Aadhaar Validation For Card-based Transactions

<ul><li>The Economic Survey 2018-19 highlights how technology has helped the Indian government plug leaks in the country's '<keyword id="7286241" type="UNKNOWN" weightage="20" keywordseo="food-for-work">food for work</keyword>' programme -- the Mahatma Gandhi National Rural Employment Guarantee Act (MGNREGA).</li><li>It attributes the programs success to the JAM trinity of Jan Dhan, <keyword id="144117" type="ORGANIZATION" weightage="20" keywordseo="AADHAAR">Aadhaar</keyword>, and mobile payments.</li><li>The National Electronic Fund Management System (NeFMS) also also helped the government keep a more accurate account of which workers are on the payroll and if they're actually showing up for work.</li></ul>The origins of ‘food for work’ programs trace back to Kautilya’s Arthashastra — a Indian documents on statecraft, economic policy and military strategy. John Keynes, who popularised the theory, was still a century behind Nawab Asaf-ud-Daula who already had a ‘food for work’ program working in Lucknow when famine struck in 1784. In today’s day and age, India’s Mahatma Gandhi National Rural Employment Guarantee Act (MGNREGA) is using technology to streamline the national ‘food for work’ scheme to bring financial and economic inclusion. The JAM trinity — Jan Dhan, Aadhaar, and mobile payments — has eased the validation of beneficiaries and the process for releasing funds, according to Economic Survey 2018-19. Wages directly to the people Since it’s induction in 2005, the programme was riddled with issues. But, applying Direct Benefit Transfer (DBT) and Aadhaar-linked Payments (ALP), the Indian government has been striving to reduce delays in the payment of wages, curb corruption and political interference, and plug up any leakages in the system. As a workforce programme, MGNREGA’s mandate is to alleviate distress and ensure payments happen in a timely manner. Before DBT, wages were transferred into panchayat bank accounts and most of the workers had to collect their wages from the gram panchayat office. And, in order for DBT to work — the workers needed bank accounts. That’s when the Pradhan Mantri Jan Dhan Yojana (PMJDY) was implemented to bring about universal access to banking facilities. The Economic Survey 2018-19 highlights that before the implementation of ALP and DBT, there used to be an average lag of 90 days before wage payments for recieved. After their implementation, that lag has been cut down one-third from 35% to less than 10%. Culling out the ‘ghosts’ in the system Bringing in <keyword id="7829443" type="UNKNOWN" weightage="20" keywordseo="aadhaar-linked-payments">Aadhaar linked payments</keyword> ensured that the government would not be funding any ‘ghost’ beneficiaries. The National Electronic Fund Management System (NeFMS), implemented in 2016 and currently functional in 24 states, bolsters that effort by providing a real time database of wages being credited into bank or post office accounts by the central government. NREGAsoft, a local language workflow based e-governance system, looks at registration and muster rolls, a form of attendance register signed by workers to check false reporting of numbers. The service isn’t available to the public but does make it easier for the government to keep track of who is employed under the scheme and whether they are actually showing up for work. The government’s also held accountable of its actions with the use of mobile apps like Gram Samvaad Mobile App and JanMnRega were rural workers have direct access to information and can give their own feedback on how the system is working. The supply demand gap Since the government now access to data, the Economic Survey 2018-19 asserts that it will be able to implement MGNREGA more effectively by pushing government officials to provide more jobs in distressed areas. This should help bridge the demand supply gap between jobs available and the enlisted worker by using data provide jobs where there is more demand for them and vice versa. The survey also highlights how the vulnerable sections of the society — women, scheduled class, and scheduled tribes — have increased their participation in the program during times of distress. Going forward, the government wants to expand the number of jobs available to workers under the scheme, upskill the workers it has enlisted, expand the use of JAM, and use digital infrastructure to expand MGNERA beyond wages to also offer micro-insurance, micro-pensions and micro-credit to the underserved sections of society.

Technology plugged the leaks in India’s ₹60,000 crore rural employment guarantee scheme

In what is being regarded as a major milestone in <keyword id="6360789" type="ORGANIZATION" weightage="60" keywordseo="Modi-Government">Modi government</keyword>’s <keyword id="2412682" type="UNKNOWN" weightage="80" keywordseo="Digital-India-mission">Digital India mission</keyword>, bank accounts of 10 crore people have been linked with their <keyword id="144117" type="ORGANIZATION" weightage="80" keywordseo="AADHAAR">Aadhaar</keyword> card numbers. The move would allow these individuals to digitally receive government welfare subsidies and other payments in a hassle-free manner directly into their bank accounts. 
 
If the person moves to another part of India, they can access these subsidies as the facility is portable across any bank in the country. Till date, 333 banks are live on this platform. 
 
In order to link Aadhaar number to the bank account, one needs to provide a copy of their Aadhaar letter or their e-Aadhaar to the bank branch in which he/she holds the account. Once the account is seeded, it can be used by central government departments to transfer subsidies directly into this bank account. 
 
And just by dialling *99*99# on their mobile phones, residents can check status of the Aadhaar-Bank account linkage. To avail this facility, which is provided by National Payments Corporation of India (NPCI), you need to pay Rs 1.50 per enquiry. 
 
The Aadhaar identity platform is the largest biometric database in the world and serves users ranging from LPG consumers, MNREGA workers, PDS, remittance and scholarship beneficiaries, etc. – all using their Aadhaar number to avail benefits. 
 
Till December 9, 2014, nearly eight crore transactions have been carried out through the Aadhaar Payment Bridge for various welfare programs of the BJP government, which amounted to Rs 5,151.51crore. 
 
On Dec 12, 2014, issuance of Aadhaars crossed the Rs 72 crore-mark across the country. 
 The <keyword id="86474" type="ORGANIZATION" weightage="60" keywordseo="Unique-Identification-Authority-of-India">Unique Identification Authority of India</keyword> (<keyword id="6355252" type="CITY" weightage="60" keywordseo="UIDAI">UIDAI</keyword>), which has received national and international acclaim for the Aadhaar project, has also been declared as the best agency for “security in e-governance,” as per a press release available on Press Information Bureau. 
(Image: The Economic Times)

A Step Toward Digital India: 10 Crore Aadhaars Linked To Bank Accounts

<keyword id="8181046" type="UNKNOWN" weightage="20" keywordseo="haryana-vidhan-sabha-elections-2019">Haryana Vidhan Sabha Elections 2019</keyword> polling schedule All the 90 assembly constituencies of Haryana will go for polling in a single phase for the upcoming 2019 Vidhan Sabha elections on October 21, 2019. The polling will begin at 7 am and will conclude at 5 pm. This time there are about 1.83 corers of voters on the electoral rolls of the state of Haryana who will be eligible to participate in the election process. All Indian citizens who are residing in Haryana above the age of 18 are eligible to vote in the 2019 assembly elections. If you satisfy these conditions and have registered yourself as a voter, you can cast your vote in the upcoming elections. The Election Commission of India has highly simplified the polling process. The EC also offers several awareness programs to educate the voters on various topics connected to the election and voting. If you are a first time voter, you might be confused on how to check your name on the electoral rolls and how to find your polling booth. Here are the details you must know on these questions. How to check your name on the voter’s list Online method Log on to the state election commission website and select your district and assembly constituency. Once you fill in your personal details asked, you will find if your name is there on the voter’s list. Phone method Dial the voter helpline 1950 on your mobile phone or landline followed by the STD code of the area. Select your language and follow the instructions to verify your name on the voters’ list. Alternatively, you can also check your name on the electoral roll by downloading the EC’s mobile app and following the instructions. SMS method Type the message &lt;ECI&gt; space &lt;EPIC (Voter Id card) No&gt; and send to 1950. You will get the confirmation via reply message on your phone. How to find your polling booth For the 2019 assembly elections, the Election Commission has set up several more polling booths in the state of Haryana. In total, there are 19,425 polling booths spread across the 90 constituencies. To know your polling booth, visit electoralsearch.in and fill in your details or the voter ID number. You can also find your polling booth by downloading the Voter Helpline App. The same method you used for checking your name on the electoral roll can also be used to find your polling booth (calling helpline or sending SMS to the helpline number 1950). Documents you must carry to the polling booth If you are an eligible voter and if your name appears on the voters’ list in your block, the block level officer would have handed a photo voter slip to you in person at least five days prior to the polling date. The Election Commission has mandated that every voter carries this document to the polling booth to gain an entry to cast his or her vote. In addition, you must produce any one document with your photo as a proof of your identity. Aadhaar card and Voter’s ID card are not mandatory. However, you can produce them at the polling booth to prove your identity. In fact, you can produce any one of the following documents to prove your identity at the polling booth. <ul><li>Aadhaar Card</li><li>Voter ID card</li><li>Passport</li><li>Driving License</li><li>Photo ID cards issued to the employees of Central/State Govt./PSUs/Public Limited Companies</li><li>Bank or post office passbook with photograph</li><li>PAN Card</li><li>RGI Smart Card</li><li>MNREGA Job Card (Mahatma Gandhi National Rural Employment Guarantee)</li><li>Ministry of Labor’s Health Insurance Smart Card</li><li>Pension book with a photograph</li><li>MP/MLA/MLC identity card</li></ul>

Haryana Assembly Elections 2019: Polling schedule, ways to check your name in the voter list

Polling schedule in Maharashtra As part of the 2019 assembly elections, all the 288 Vidhan Sabha constituencies of the state of Maharashtra will go for polling in a single phase on October 21, 2019. The polling time is between 7 am and 5 pm. For the 2019 general elections, there are around 8.9 crore voters on the electoral rolls of the state of Maharashtra who will be eligible to cast their votes. The Indian nationals residing in Maharashtra above the age of 18 are eligible to vote in the upcoming elections. If you meet these criteria and have registered your name as a voter, your name will appear on the electoral rolls this time. The Election Commission of India has made the process of polling very simple for the voters. The EC also conducts many awareness programs to inform the voters on the different topics connected to the elections and the voting process. Generally, the first time voters might have doubts on the process of checking their names on the voters’ list and finding their polling booth. Here is a short guide on these topics. This is how you can check your name on the electoral rolls The online route Visit the state election commission website and choose your district and the Vidhan Sabha constituency. Once you fill in the personal details asked about you, you will know if your name appears on the voter’s list this time. On your phone On your landline or mobile phone, dial the voter helpline number 1950 after dialing the STD code of the area. Choose your language and continue with the instructions for verifying your name on the voters’ list. It is also possible to check your name on the Voters’ list by downloading the EC’s mobile app. This is a highly user-friendly app that will guide you with the rest of the process. Through SMS Open the messaging app on your mobile and type in &lt;ECI&gt; space &lt;EPIC (Electors Photo Identity Card) No&gt; and send to 1950. Within a few seconds, you will receive your voter details through reply message. Method to find your polling booth For the 2019 Vidhan Sabha elections, the Election Commission has increased the number of polling booths in the state of Maharashtra to benefit the voters. In total, there are 95,473 polling booths spread across the 288 constituencies of the state. To find out your polling booth, you can visit electoralsearch.in website and fill in your details as found on your voter’s card or just enter the voter ID number. Alternatively, you can locate your polling booth by downloading the Voter Helpline App. The earlier method you used to check your name on the electoral roll is also useful to locate your polling booth. (either call the helpline number 1950 or send an SMS to this number) Documents you need to produce at the polling booth If you are eligible to vote as per the criteria specified by the Election Commission and if you have already registered your name as a voter, the block level officer would have given you a photo voter slip to you in person at least before five days of the scheduled polling date. As per the mandate published by the EC, it is a must to carry this photo voter slip to the polling booth to gain entry for casting your vote. Over and above, you need to produce any one of the following documents as an identity proof. <ul><li>Voter ID card</li><li>Aadhaar Card</li><li>Driving License</li><li>PAN Card</li><li>Passport</li><li>RGI Smart Card</li><li>Bank or post office passbook with photograph</li><li>MNREGA Job Card (Mahatma Gandhi National Rural Employment Guarantee)</li><li>Photo ID cards issued to the employees of Central/State Govt./PSUs/Public Limited Companies</li><li>Ministry of Labor’s Health Insurance Smart Card</li><li>Pension book with a photograph</li><li>MP/MLA/MLC identity card</li></ul>

Maharashtra Assembly Election 2019: Polling schedule, ways to check your name in the voter list

<ul><li>India’s External Affairs Ministry has proposed in its draft <keyword id="7297491" type="UNKNOWN" weightage="20" keywordseo="emigration-bill-2019">Emigration Bill 2019</keyword> new rules for mandatory registration. </li><li>The bill proposes Indian nationals planning overseas education or employment will have to register with the government before moving out. </li><li>Last year, the government made a similar announcement to register with the External Affairs Ministry before taking up a job overseas.</li></ul>Indian nationals planning to go abroad for studies or work may now need to register with the government before departing to other countries. The Indian government has <a href="https://timesofindia.indiatimes.com/india/going-abroad-for-studies-you-mayve-to-register-with-govt/articleshow/67859644.cms?from=mdr">proposed</a> a mandatory registration process as part of the draft emigration bill aimed at strengthening its ‘Emigration management framework.’ The process, which is likely to be digital, is reportedly aimed at providing assistance to the citizens abroad in times of need. India currently has a mandatory registration requirement for Indian nationals seeking to work in 18 countries including the UAE, Saudi Arabia, and Afghanistan. The draft bill also proposes to <a href="https://www.dailypioneer.com/2019/india/govt-proposes-new-emigration-bill-2019.html">set up</a> an ‘Emigration Management Authority (EMA)’ for overall welfare and protection of its emigrants. It will also set up two bureaus — Bureau of Emigration Policy and the Bureau of Administration for handling emigration related issues and daily operations. It will also include migrant resource centres, legal assistance and help desks to facilitate the Indian workforce and students in other countries. Last year, the Indian government made a similar announcement for Indian citizens to register with the External Affairs Ministry before taking up a <a href="https://www.thehindu.com/news/national/e-registration-must-for-jobs-in-18-countries/article25560355.ece">job overseas</a>. The rule was enforced on 1 January 2019 and is applicable for 18 countries — Thailand, UAE, Afghanistan, Bahrain, Indonesia, Iraq, Jordan, Kuwait, Libya, Malaysia, Oman, Qatar, Saudi Arabia, Sudan, South Sudan, Syria, Yemen and Lebanon. However, this also includes the citizens with “non-emigration Check Required (non-ECR)” status. According to the Reserve Bank of India, the number of Indian students preferring <keyword id="1111686" type="PERSON" weightage="20" keywordseo="Education-abroad">education abroad</keyword> has gone <a href="https://www.indiatoday.in/education-today/study-abroad/story/trends-overseas-education-industry-in-2019-divd-1431292-2019-01-15">up by 44%</a> with most students preferring US, UK, Australia and Canada for higher education in 2019. See also: <a href="https://www.businessinsider.in/india-will-soon-have-chip-based-e-passport/articleshow/67645016.cms">India will soon introduce chip-based e-passport and simplified visa norms: PM Modi</a> <a href="https://www.businessinsider.in/more-indians-have-left-the-country-as-its-economy-has-grown-report/articleshow/66732249.cms">More Indians have left the country as its economy has grown: Report</a> <a href="https://www.businessinsider.in/aadhaar-valid-for-indian-travellers-visiting-nepal-and-bhutan/articleshow/67621056.cms">India okays Aadhaar as a valid travel document for Nepal and Bhutan — but only for certain age groups</a>

Indians planning to study abroad may have to register with the government

<ul><li>The State Bank of India’s (SBI) server was left without any password protection exposing the contact details, balances and partial account number details of its users. </li><li>The server has since been secured, but while left vulnerable, it had archived messages going back to December. </li><li>While no sensitive data was disclosed, the data breach leaves customers susceptible to social engineering hacks and extortion.</li></ul>Hacking is where someone has to bypass security in order to get information, but India’s largest bank, the State Bank of India (SBI), left the data of millions of users exposed all because it <a href="https://techcrunch.com/2019/01/30/state-bank-india-data-leak/">did not set a password</a> on its server. The ‘SBI Quick’ server — a service that allows the bank’s customers to text the bank for information on their accounts — has reportedly been secured since the report. But while it was open, it had archives of messages dating back to December according to TechCrunch’s investigation. That’s millions and millions of messages about balance information, loan inquiries, financial transactions and other data — although there were no passwords disclosed. The data breach was spotted by a security researcher (unnamed) and verified by Karan Saini, the researcher who previously found a leak in India’s Aadhaar database, the largest biometric authentication system in the world. Business Insider has reached out to SBI but they are yet to issue a response on the data breach. . Your data is secure… so far While there was no sensitive data on the server, simple details like partial account numbers and contact information can render the SBI customers vulnerable to ransom demands. Social engineering attacks, one of the most common ways commit financial fraud, could also be a possibility. Drawing a correlation between a phone number and a high account balance, a social engineering attack would involve human interaction and manipulating their targets in to breaking normal security guidelines. 
 
 <div type="ExtQuote" text="“The data available could potentially be used to profile and target individuals that are known to have high account balances.&quot;" auname="Karan Saini, security researcher told TechCrunch"></div>





 The scope of the problem As India’s largest bank, SBI claims to have more than 500 million customers worldwide with 740 million accounts. And since the bank hasn’t issued any response there isn’t any data available to determine exactly which customers’ data was exposed and how many customers are vulnerable overall. But, in a single data, the server shoots out nearly three million messages which doesn’t paint a very encouraging picture. India’s problem with data Protecting data is a much larger program and goes beyond SBI. It’s not companies aren’t spending on security, but it’s getting harder to stay ahead of the challenges. To be fair, in SBI’s case, it was a simple case of negligence. When the Cosmos Bank — a 112 year old bank in India — was <a href="https://economictimes.indiatimes.com/industry/banking/finance/banking/north-korean-connection-to-cosmos-hacking-signs-point-to-bangladesh-heist-masterminds/articleshow/65411640.cms">hacked</a> in August last year, it was the victim of an attack carried out by the Lazarus Group of North Korea. A report by the Boston Consulting Group (BCG) <a href="https://www.bcg.com/en-in/capabilities/technology-digital/mastering-cybersecurity.aspx">found</a> that among 50 of the recent major data breaches, only 28% were caused by inadequate security tech. In all the other cases — that’s 72% or nearly three-quarters — the breaches were caused due to organizational failure, process failure or, simply, employee negligence. While improving the technology behind cybersecurity is important, it’s also key to drive resilience measures in order to improve efficacy. See also: <a href="https://www.businessinsider.in/nearly-773-million-email-accounts-have-been-exposed-in-a-massive-data-breach-heres-how-to-check-if-you-were-affected/articleshow/67576032.cms">Nearly 773 million email accounts have been exposed in a massive data breach. Here's how to check if you were affected</a> <a href="https://www.businessinsider.in/state-bank-of-india-halves-withdrawal-limit-at-atms-to-20000-per-day-to-prevent-fraud/articleshow/66442390.cms">State Bank of India halves withdrawal limit at ATMs to ₹20,000 per day to prevent fraud</a> <a href="https://www.businessinsider.in/the-21-biggest-data-breaches-of-2018/articleshow/67045497.cms">The 21 biggest data breaches of 2018</a>

India’s largest bank leaves the data of millions of users exposed

Among the most ambitious projects that have enjoyed great attention by Prime Minister <keyword id="6354477" type="PERSON" weightage="20" keywordseo="Narendra-Modi">Narendra Modi</keyword>, national mission for financial inclusion tops the list. 
 
The report relating to this project prepared by USAID -- titled ‘Beyond Cash’- was released recently highlights the current behaviors and perceptions of digital payments in low-income communities in India, and suggests ideas on how policy makers can accelerate the adoption of digital payments in the country. The study was conducted by strategic advisory firm Dalberg in six locations across four states. 
 Indicating the potential of inclusive digital economy, the report carried most intricate data pertaining to the avenues that <keyword id="1929810" type="UNKNOWN" weightage="20" keywordseo="Digital-India">digital India</keyword> can take to make the project a huge success. 
 
The data indicates that across India 97 percent of retail transactions are conducted in cash or cheque. Surprisingly, only 29% of bank accounts in India have been used in the last three months, only 6 percent of merchants accept digital payments, and just over 10 percent of consumers have used a debit card for payments in the last year. 
 
Schemes such as Pradhan Mantri Jan-Dhan Yojana, supported by the Aadhaar; India has already made some important strides into the area. Add to this, one billion mobile phone connections and you will see universal financial inclusion taking stronghold in the country. However, the use of digital payments in the country remains limited and this needs to be addressed. 
 Digital payments can help consumers and merchants spend their money more safely and securely, save and build credit profiles for lending opportunities unavailable in the informal banking sector, and participate in a growing online economy. According to the <keyword id="6354424" type="ORGANIZATION" weightage="20" keywordseo="World-Bank">World Bank</keyword>, India could save approximately one percent of its GDP annually by digitizing cash-based subsidies alone. 
 
The report Beyond Cash suggests a few ideas to drive greater consumer and merchant adoption and use of digital payments. These ideas include: 
 
• Create opportunities for consumers to make digital contributions to micro-savings products. 
• Incentivize current users to deepen use and bring other consumers onboard. 
• Enable merchants to try digital payments at low or no cost. 
• Digitize retailer-to-supplier payments. 
 
 
 
 
 
 
 
Matthew Homer, a Senior Policy Advisor on Digital Finance at the United States Agency of International Development (USAID), lays open the potential, the challenges, solutions and way ahead for universal inclusive digital economy for India. 
 
BI: What are the solutions that India can focus on - both short term and long term (considering the majority low income demography and poverty)? Essentially how would you rate government's efforts and what are the necessary suggestions? 
 
Matthew: India is making tremendous progress with regard to financial inclusion. Aadhaar has created an enabling environment in which PMJDY and digital direct benefit transfers (DBTs) can take hold. These are important foundational elements of India’s journey to widespread and meaningful financial inclusion. Another critical element on this journey is to ensure that all Indians have the opportunity to actively participate in India’s growing digital economy. Very few merchants in India currently accept digital forms of payment, and those who do are unlikely to serve poor consumers. Solving this is a critical piece of the financial inclusion puzzle. As more and more low-income consumers are obtaining accounts, and DBTs are flowing into those accounts, being able to make active use of these accounts requires greater merchant acceptance of digital payments. 
 Finding ways to increase usage of digital payments between merchants and consumers is an important short- and medium-term step toward a more inclusive and active digital economy that extends across society, including to low-income demographics. In the long-run, sustaining focus on this issue will be critical for both the government and the private sector. It’s important that the private sector sees a long-term opportunity to viably and responsibly meet the <keyword id="6354241" type="COMPANY" weightage="20" keywordseo="Financial-Services">financial services</keyword> needs of the poor, by designing, testing, and scaling business models that increase use of digital payments wherever consumers shop. 
 
 
 
 
BI: In a country like India the major problems are reaching out to public, low income and the necessary digital infrastructure to support the initiatives of financial inclusion. How do you see that? 
 
Matthew: With one billion mobile phone connections in India, mobiles have the potential to be one of the most effective channels for delivering critical services to the public, particularly low-income and underserved communities. However, without effective and widespread digital infrastructure, it will impossible to achieve deeper financial and economic inclusion for all of India’s citizens. The public and private sectors both have a role to play in building this infrastructure, and we have seen important public sector investments in payment systems and other critical digital infrastructure. To effectively meet the last-mile access needs of low-income and rural populations, significant private sector leadership is needed. For example, building a digital payment network that reaches all of India’s merchants can’t be accomplished without compelling business models that are attractive to merchants, consumers, and other other private sector stakeholders. This is one of the goals of the Partnership we’ve organized with the Ministry of Finance, one which includes nearly 40 private sector member organizations. 
 
 
 
BI: What can India do to achieve next level of economic gains through digital? World is already watching India and its economic outlook with great optimism but problems and challenges are plenty. How tech can help achieve the dynamism India is looking for? 
 
Matthew: Transitioning from cash to a less-cash digital economy won’t happen overnight. Digital infrastructure, like digital payment networks at point-of-sale, is an important enabler. But just as important is creating incentives for this shift to happen. Enabling must be coupled with incentivizing. Technology and innovation can have a huge impact, especially when they are accompanied by effective policy incentives and business models that reach low-income populations. Among population segments that are generally unaware of these tools, targeted marketing that appeals to the needs and wants of specific population segments can also be essential. 
 
BI: Many people are under extreme poverty and many are struggling for basic financial necessities. What could be done through digital tech based on the ideas and findings of the report? How to catalyze India's digital growth and what impact it would have globally? 
 
Matthew: Digital finance tools such as digital payments can help alleviate poverty in a number of ways. This can include, for example, enabling low-income consumers to store and save their money more safely and securely, reducing the amount of time needed to travel to obtain or cash a check, improving ability to handle emergencies, and developing a digital transaction history that can be used to provide access to additional financial services such as credit. Importantly, digital payments also enable consumers to participate in the growing online and digital economy. 
 
Our research is intended to help us better understand the financial behaviors and perceptions of consumers and merchants when it comes to making payments digitally. The report, <a href="https://www.globalinnovationexchange.org/beyond-cash">Beyond Cash</a>, uses quantitative and qualitative research methods to answer that question and identify potential actions that can lead to widely-used digital payment networks, particularly among low-income populations. The report also includes a rich dataset that is available for public use. As we think about extending digital payment networks to the poor, the research provides some insight about how to move forward. 
● First, to increase the number of merchants who accept digital payments we must focus on creating incentives for consumers to pay electronically. Our research indicates that merchants are much more willing to accept digital payments if their customers demand it. 
● Second, early adopters should be incentivized to sign up others and the cost of trying digital payments should be as easy and inexpensive as possible for both merchants and consumers. Merchants report that even if they would like to try accepting digital payments the cost of trialing is too high. 
● Third, digital payments should focus on mimicking what consumers and merchants like about paper payment instruments (e.g. cash or check) while also solving for clear pain-points they experience in the cash economy. (The research identifies a number of pain points and suggests a variety of responses). 
● Fourth, and to me this is the most important factor, digital payments must connect merchants and consumers with something more valuable than any digital transaction itself. For merchants, this may be the ability to reach new market segments or have access to better inventory management tools. And for consumers this could include being able to participate in the online economy or being able to more quickly pay and board a bus without exact change. 
 
Engaging all Indians in the digital economy would benefit not only individuals themselves, but the Indian economy too. And as India identifies opportunities to lift the poor out of poverty using the digital economy, these learnings will be of keen interest across other markets as well. 
 
BI: Digital divide, how to overcome this main problem? 
 
Matthew: While our research doesn’t examine this larger question, it does point to the importance of designing financial services and products with a variety of users in mind. This means, for example, better understanding the use cases that appeal most to digitally marginalized populations and creating targeted outreach efforts that highlight those use cases. I think it also suggests the need to think out-of-the-box with regard to business models that meet the needs of un- or underserved consumers. Business models that work elsewhere or with other population segments may not work for these populations and we may need to try entirely new approaches. This is really what our Partnership is all about, and we’re focused on using the research we’ve conducted to now to test a variety of business models to find out what really works.

‘Beyond Cash’: India’s inclusive digital economy is on top gear

The internet has revolutionised our lives, offering convenience and connectivity at our fingertips. With the rapid adoption of digital payments in India, fraudsters have evolved their tactics, devising new scams to exploit the growing user base. Several <keyword id="20182215" type="General" weightage="20" keywordseo="online-scams" source="keywords">online scams</keyword> have been reported in India over the past few months, from the standard UPI refund scams to unbelievable scams such as the digital arrest scams. Here's a look at some prevalent online scams and how to protect yourself: <h2><keyword id="23629952" type="General" weightage="20" keywordseo="UPI-refund-scam" source="keywords">UPI refund scam</keyword></h2>UPI refund scam is one of the most common online scams these days. It involves a person sending the victim money and then claiming that it was accidentally sent. The scammer then asks the victim to refund the money, often using excuses such as emergency hospitalisations or other important expenses. If the victim refunds the money, the scammer then contacts their bank and reverses the initial transaction, resulting in the victim losing money. How to protect yourself from UPI refund scams: <ul><li>Do not resend the money if someone claims they have “accidentally” sent you money.</li><li>If you receive money from an unknown source, contact your bank immediately.</li><li>If someone says they have sent you money, ask them to contact their bank to get a refund.</li></ul><h2><keyword id="19939895" type="General" weightage="20" keywordseo="phishing-scams" source="keywords">Phishing scams</keyword></h2>Phishing scams have been around for a long time, but they have become more sophisticated in the digital age. Fraudsters often impersonate reputable companies, sending fake emails, messages, or even websites that look almost identical to the real ones. These messages typically contain a sense of urgency—such as a warning that your account is about to be blocked or that you've won a prize. Once you click on the link, you’re directed to a fake site that prompts you to enter your personal information, including login credentials and payment details. This data is then used to steal money or compromise your identity. How to protect yourself from phishing scams: <ul><li>Be sceptical of unexpected messages or emails, even if they seem to come from trusted sources.</li><li>Check the URLs of websites carefully. Scammers often use misspelt URLs that are designed to look legitimate.</li><li>Never share your personal or financial information without verifying the authenticity of the request.</li></ul><h2><keyword id="23629953" type="General" weightage="20" keywordseo="SIM-swap-scam" source="keywords">SIM Swap scam</keyword></h2>As the name suggests, a SIM swap scam basically involves the scammer getting access to your SIM, either with the help of someone at the mobile service provider or through other means. The scammer often convinces the network provider to activate a SIM card they possess, gaining control of the victim’s phone number. This allows the scammer to gain access to all calls and text messages that the victim may receive, which is important in this day and age where all accounts are linked to your phone number. Once the scammer gets access to the victim’s phone number, they use it to gain access to their bank account and steal money. How to protect yourself from SIM swap scam: <ul><li>If your SIM stops working, immediately inform the telecom operator.</li><li>Make use of a SIM lock, which prevents your SIM from being used on another smartphone without entering a password.</li><li>Avoid sharing personal information online, especially things which can make it easier to crack your passwords.</li><li>Keep track of your accounts and report any unauthorised transactions.</li></ul><h2><keyword id="20415709" type="General" weightage="20" keywordseo="online-shopping-scams" source="keywords">Online Shopping Scams</keyword></h2>Beware of fake online stores offering unbelievable deals. These websites might steal your payment information or deliver counterfeit or non-existent products. These websites often advertise unbelievable deals to lure in unsuspecting customers, either with the intention of stealing their data or selling substandard products. How to stay safe: <ul><li>Shop from reputable websites. Look for customer reviews and secure payment gateways.</li><li>Be cautious of prices that seem too good to be true.</li><li>Use a credit card for online purchases. It offers better fraud protection than a debit card.</li></ul><h2>The "Digital Arrest" scam</h2>In this chilling scam, fraudsters impersonate law enforcement officials. They may claim you're involved in illegal activities and threaten you with a "digital arrest" or legal action. To avoid this, they'll demand payment or personal information. Victims are often coerced into making payments via UPI or other digital means. The sense of urgency and fear of legal consequences often compels people to act without verifying the legitimacy of the claim. How to avoid: <ul><li>Know your rights: Law enforcement agencies will never demand payment or personal information over the phone or online. </li><li>Verify identities: If you receive such a call, hang up and directly contact the relevant authorities to verify the claim.</li></ul><h2><keyword id="23629954" type="General" weightage="20" keywordseo="KYC-scam" source="keywords">KYC scam</keyword></h2>With the increased demand for KYC (know your customer) updates across digital platforms, fraudsters are taking advantage by posing as bank or telecom representatives. They often claim that your account will be blocked if you don’t update your KYC details immediately. Victims are then asked to share their Aadhaar number, PAN, or other personal details via a fraudulent link or over a call. In some cases, they also ask users to complete the process through UPI apps, stealing money from their accounts during the process. How to avoid it: <ul><li>Banks and financial institutions never ask for personal details over a call, message, or link.</li><li>Always update KYC details through official channels, like the bank’s app or website.</li><li>If you receive a suspicious KYC request, report it to your bank’s customer service immediately.</li></ul>SEE ALSO: <a href="https://www.businessinsider.in/stock-market/news/waaree-energies-to-afcons-infrastructure-ipos-to-look-out-for-this-week/articleshow/114421377.cms">Waaree Energies to Afcons Infrastructure, IPOs to look out for this week</a> <a href="https://www.businessinsider.in/personal-finance/news/best-credit-cards-for-online-shopping-in-india/articleshow/114354358.cms">Best credit cards for online shopping this festive season</a> <a href="https://www.businessinsider.in/stock-market/news/bigger-they-are-harder-they-fall-a-look-at-how-the-countrys-biggest-ipos-have-fared/articleshow/114307997.cms">Bigger they are, harder they fall – A look at how the country’s biggest IPOs have fared</a>

UPI refund to digital arrest scam, here are some online scams you need to be aware of

Prime Minister Narendra <keyword id="19899684" type="General" weightage="20" keywordseo="Modi" source="keywords">Modi</keyword> on Friday said the government is making necessary <keyword id="20861068" type="General" weightage="20" keywordseo="policy-changes" source="keywords">policy changes</keyword>, like removal of <keyword id="20279287" type="General" weightage="20" keywordseo="Angel-Tax" source="keywords">Angel Tax</keyword>, to promote the <keyword id="19945816" type="General" weightage="100" keywordseo="fintech" source="keywords">fintech</keyword> sector, even as he asked the <keyword id="19962476" type="General" weightage="20" keywordseo="regulators" source="keywords">regulators</keyword> to take additional measures to check cyber frauds which can have a crippling impact on startups. Lauding the fintechs for democratising <keyword id="19976433" type="General" weightage="20" keywordseo="financial-services" source="keywords">financial services</keyword>, Modi said the sector, which has attracted USD 31-billion investment in the last 10 years, has played a key role in denting the parallel economy. The Prime Minister was addressing the Global Fintech Fest (GFF) 2024, jointly organised by the Payments Council of India, the National Payments Corporation of India and the Fintech Convergence Council. He said the domestic economy and the capital market are in a celebratory mood at a time when the nation is also going through a festive period. Modi underlined that the government is making all necessary changes on the policy level to assist the fintech sector and gave examples of doing away with Angel Tax, allocating Rs 1 lakh crore to encourage research and innovation in the country and implementing the Digital Personal Data Protection Act. Broadly, fintech refers to entities utilising technologies for providing financial services. Expressing the need to put an end to <keyword id="19901142" type="General" weightage="20" keywordseo="cyber-fraud" source="keywords">cyber fraud</keyword>, he urged the regulators to take major initiatives to boost digital literacy. It is equally important to ensure cyber fraud does not come in the way of the growth of fintech and startups in the country, Modi said. In his speech, the Prime Minister also cautioned about the dangers of a parallel economy for the world. Fintech, he said, has played an impactful role in denting such a system and credited the emergence of transparency. He said that digital technology has introduced transparency in India and gave the example of the implementation of Direct Benefit Transfer used in hundreds of government schemes that has prevented leakages in the system. "Today, people can see the benefits of aligning with the formal banking system," he said. Modi further said the trinity of Jan Dhan, Aadhaar and Mobile have broken down the mentality of 'Cash is King' and made way for approximately half of the <keyword id="20004116" type="General" weightage="20" keywordseo="digital-transactions" source="keywords">digital transactions</keyword> in the world taking place in India. "India's <keyword id="19900911" type="General" weightage="20" keywordseo="upi" source="keywords">UPI</keyword> has become a major example of fintech in the world," he said, adding that it has enabled 24X7 banking services in every village and city in all weather conditions. Underlining the role of fintech in democratising financial services, the Prime Minister gave examples of readily available loans, credit cards, investments and insurance. He said that fintech has made access to credit easy and inclusive, and gave the example of PM SVANidhi scheme that has enabled street vendors to avail collateral-free loans and further expand their business with the help of digital transactions. "Sustainable <keyword id="19900794" type="General" weightage="20" keywordseo="economic-growth" source="keywords">economic growth</keyword> is India's priority today," he said and emphasised that the government is creating robust, transparent and efficient systems to strengthen financial markets with advanced technologies and regulatory frameworks. About 800 speakers, including policymakers, regulators, senior bankers, industry captains, and academicians, from India and other countries are participating in the fest.

Removed Angel Tax, taking policy measures to promote fintech sector: PM Modi

<ul><li>Vishing is a type of phone scam where the fraudster takes advantage of human error by calling and attempting to deceive victims into revealing their personal information.</li><li>Aadhaar card and Prize scams are common types of vishing attacks in India.</li><li>Below, check out simple tips to identify vishing scams in India.</li></ul>“Namaste, this is ‘X’ calling from your bank. Due to a security breach, we need to verify your account details. Please share your Aadhaar number and bank account information followed by OTP to secure your account.” In this instance, a scammer adopts a deceptive approach by posing as a representative from the victim's bank in India, using the familiar greeting "Namaste" to create a false sense of familiarity and trust. The scammer then fabricates a story about a security breach and requests the victim's Aadhaar number and OTP (One-Time Password). This is a common vishing technique employed by scammers to carry out fraudulent activities. Simply put, vishing is a type of phone scam where the fraudster takes advantage of human error by calling and attempting to deceive victims into revealing their personal information or money. The term "vishing" combines "voice" and "phishing," signifying that the scammer uses a hook or a lure to trick unsuspecting individuals into disclosing usernames, passwords, and credit card details or downloading malware onto their devices. <cmsannotation type="cmsannotation" annotationid="Common vishing scams in India 2023" comment="subhead" text="Common vishing scams in India 2023"><keyword id="17245068" type="General" weightage="20" keywordseo="common-vishing-scams" source="Orion">Common vishing scams</keyword> in India 2023</cmsannotation> Bank or Financial Institution Scams: Scammers may pretend to be calling from a victim's bank or financial institution, claiming an issue with their account, such as unauthorized transactions or pending dues. They may request personal information, such as bank account numbers, ATM PINs, or OTPs (One-Time Passwords), under the guise of resolving the issue. Aadhaar Card Scams: Aadhaar is a unique identification number issued by the Indian government, and scammers may pose as Aadhaar officials, claiming there is an issue with the victim's Aadhaar card, such as verification or update requirements. They may request personal information, such as Aadhaar numbers, biometric data, or OTPs, to resolve the supposed issue. Prize Scams: Scammers may inform victims that they have won a prize and ask for personal information, such as bank account numbers, to process the winnings. They may use tactics such as urgency, excitement, or promises of large sums of money to lure victims into providing their information. Job or Employment Scams: Scammers may pose as recruitment agencies or employers, offering fake job opportunities and requesting personal information, such as Aadhaar numbers, bank account details, or copies of identity documents, as part of the application process. Tech Support Scams: Scammers may pretend to be calling from a reputable tech support company, claiming that the victim's computer or device has a virus or technical issue. They may request remote access to the victim's device or payment for services and in the process, may obtain personal information or money. <cmsannotation type="cmsannotation" annotationid="How to spot vishing scams in India" comment="subhead" text="How to spot vishing scams in India"><keyword id="17245070" type="General" weightage="20" keywordseo="how-to-spot-vishing-scams" source="Orion">How to spot vishing scams</keyword> in India</cmsannotation> <cmsannotation type="cmsannotation" annotationid="Verify the caller's identity" comment="subhead" text="Verify the caller's identity">Verify the caller's identity</cmsannotation> Always verify the identity of the caller, especially if they claim to be from a bank, financial institution, Aadhaar office, or any other organization. Ask for their name, designation, and contact number, and cross-check this information with official sources or the organization's official website. <cmsannotation type="cmsannotation" annotationid="Be cautious of urgency or high-pressure tactics" comment="subhead" text="Be cautious of urgency or high-pressure tactics">Be cautious of urgency or high-pressure tactics</cmsannotation> Scammers often use urgency or high-pressure tactics to create a sense of panic or urgency to get you to act quickly without thinking rationally. Be cautious of such tactics and avoid making impulsive decisions or sharing personal information. <cmsannotation type="cmsannotation" annotationid="Do not share sensitive information" comment="subhead" text="Do not share sensitive information">Do not share sensitive information</cmsannotation> Be wary of providing personal information over the phone, such as bank account numbers, Aadhaar numbers, OTPs, PINs, or other sensitive details, unless you know the call's legitimacy. <cmsannotation type="cmsannotation" annotationid="Beware of unsolicited calls" comment="subhead" text="Beware of unsolicited calls">Beware of unsolicited calls</cmsannotation> Vishing scammers often make unsolicited calls to potential victims. Be cautious of calls you did not initiate or expect, especially if they request personal information or financial details. <cmsannotation type="cmsannotation" annotationid="Watch for caller ID spoofing" comment="subhead" text="Watch for caller ID spoofing">Watch for caller ID spoofing</cmsannotation> Scammers may use caller ID spoofing to make it appear that the call is from a legitimate organization. However, the caller ID can be manipulated. Do not solely rely on caller ID as a proof of authenticity. <cmsannotation type="cmsannotation" annotationid="Be skeptical of too-good-to-be-true offers" comment="subhead" text="Be skeptical of too-good-to-be-true offers">Be skeptical of too-good-to-be-true offers</cmsannotation> Scammers may lure victims with promises of large sums of money, lottery winnings, or other lucrative offers. Be skeptical of such offers that seem too good to be true, and always exercise caution. <cmsannotation type="cmsannotation" annotationid="Seek official confirmation" comment="subhead" text="Seek official confirmation">Seek official confirmation</cmsannotation> If you receive a call claiming to be from a bank, financial institution, or any other organization, ask for an official reference number or a confirmation email to verify the call's authenticity. <cmsannotation type="cmsannotation" annotationid="Report suspicious calls" comment="subhead" text="Report suspicious calls">Report suspicious calls</cmsannotation> If you suspect you have received a vishing call in India or any other location, report it to the appropriate authorities, such as the police, the bank or financial institution, or the Aadhaar office, for further investigation. <cmsannotation type="cmsannotation" annotationid="How to recover after a vishing attack" comment="subhead" text="How to recover after a vishing attack">How to recover after a vishing attack</cmsannotation> If you have fallen victim to a vishing scam, taking immediate steps to minimize potential damages is crucial. First, change your passwords for all your accounts to prevent further unauthorized access. Notify your bank or financial institution about the incident, and follow their guidance on securing your accounts. Contact the Aadhaar office if you have shared any Aadhaar-related information. Additionally, report the vishing attack to the local authorities, such as the police or cyber crime cell, to initiate an investigation. Record all relevant details, including the date, time, phone number, and any other information about the vishing call. It's also essential to educate yourself about vishing attacks and adopt preventive measures, such as being cautious of unsolicited calls, verifying the caller's identity, and not sharing personal information over the phone without proper authentication. Recovering from a vishing attack may require time and effort, but taking prompt and proactive measures can help you mitigate potential damages and protect yourself from future incidents.

You Searched For "check aadhaar bank" and got 13 results

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BI India Bureau

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BI India Bureau

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Indians planning to study abroad may have to register with the government

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PTI

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