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<ul><li><keyword id="4009819" type="PERSON" weightage="20" keywordseo="Amazon-Pay">Amazon Pay</keyword>, <keyword id="18635" type="CITY" weightage="20" keywordseo="Amazon">Amazon</keyword> <keyword id="418872" type="PERSON" weightage="20" keywordseo="digital-wallet">digital wallet</keyword> in <keyword id="3658" type="COUNTRY" weightage="20" keywordseo="India">India</keyword>, is rolling out user verification (KYC) for its customers.</li><li>Reportedly submitting biometrics using <keyword id="144117" type="ORGANIZATION" weightage="20" keywordseo="AADHAAR">Aadhaar</keyword> credentials is a faster process for verification than other physical documents. </li><li>But concerns related to Aadhaar aren’t about its convenience, but about its security.</li></ul>Amazon Pay is the next digital wallet to roll out physical customer verification — but there’s a catch. If you use your <keyword id="6356006" type="UNKNOWN" weightage="20" keywordseo="Aadhaar-card">Aadhaar card</keyword> for verification, the process is a lot quicker than if you other methods of verification — passport, drivers license, voter ID, or bank statements. It’s not really Amazon’s fault because the biometric verification through Aadhar is simple matter of verifying your fingerprint through a fingerprint reader. But, with other physical documents, the company needs people on the ground to verify the authenticity of the documents. Simply put, the verification through Aadhaar is a lot cheaper for Amazon as compared to using other documents for physical verification. Amazon Pay and other digital wallets have to enforce user verification in line with the Reserve Bank of India’s new policy on data localisation. Not an Amazon-specific problem India’s central bank, the Reserve Bank of India, rolled out its data localisation policy rendering 95% of mobile wallets in the country vulnerable to being shut down. The directive of the policy makes it mandatory for all digital wallets to have biometrics or physical customer verification in place. Even PayTM nudged its users into adopting KYC in order to continue using their wallets. If your PayTM account isn’t verified, you can still receive payments from other users and make payments at retail outlets using the QR-code but you can’t send out money to other users directly. Other digital wallets like MobiKwik have shifted to diversifying themselves because they haven’t been able to push their customers towards KYC norms with RBI’s February deadline coming up. The case with Aadhaar India’s top court has already ruled that private companies can’t make it ‘mandatory’ for Aadhaar to be the only method of user verification. But that doesn’t negate it as an option. The issue that people are facing with Aadhaar isn’t whether or not it’s convenient, but whether or not it’s safe. The series of data breaches associated with the Aadhaar system didn’t happen through actual government database, but through third-party organisations that were using Aadhaar information as user identification. A <a href="https://timesofindia.indiatimes.com/india/80-people-concerned-about-aadhaar-data-security-study/articleshow/64382747.cms">study </a>by Velocity MR estimates that as many as 80% of respondents in India are concerned about data security when it comes to giving out their Aadhaar card information anywhere. It’s not just about identity theft but information being leaked that leads to customers being spammed over text and email — or even phished. This is probably why Amazon is looking to roll out its own Unified Payments Interface (<keyword id="6358921" type="ORGANIZATION" weightage="20" keywordseo="upi">UPI</keyword>) because, in that case, KYC isn’t mandatory for setting up an account. The verification done by the respective banks is enough. See also: <a href="https://www.businessinsider.in/in-india-amazons-fight-is-not-just-with-flipkart-but-with-paytm-google-pay-and-truecaller/articleshow/67456165.cms">In India, Amazon's fight is not just with Flipkart, but with PayTM, Google Pay and Truecaller</a> <a href="https://www.businessinsider.in/indian-government-portal-leaks-8-9mn-aadhaar-details-again/articleshow/63924186.cms">Indian government portal leaks 8.9mn Aadhaar details, again</a> <a href="https://www.businessinsider.in/supreme-court-clarifies-that-aadhar-isnt-mandatory-for-a-new-sim-connection/articleshow/63928188.cms">Supreme Court clarifies that Aadhar isn’t mandatory for a new SIM connection</a>

This is why Amazon wants your Aadhaar number

<ul><li>The government’s new initiative ‘<keyword id="7806209" type="UNKNOWN" weightage="20" keywordseo="one-nation-one-ration-card">one nation one ration card</keyword>’ scheme will enable <keyword id="62095" type="PERSON" weightage="20" keywordseo="Ration-card">ration card</keyword> holders to get their supply of food grains at any fair price shop across the country. </li><li>This project will be a boon to segments like migrant workers employed in different states of the country. </li><li>The beneficiary verification through Aadhaar authentication will happen on the electronic point of sale (e-POS) devices.</li></ul>On January 20, 2020, Union Minister Ram Vilas Paswan announced that the NDA government’s ambitious project ‘<keyword id="799098" type="ORGANIZATION" weightage="20" keywordseo="One-Nation">one nation</keyword> <keyword id="9232433" type="UNKNOWN" weightage="20" keywordseo="one-ration">one ration</keyword> card’ scheme will be rolled out to the whole of India from June 1, 2020. However, while the COVID-19 crisis has delayed the process but also made it inevitable. On May 13, Finance Minister Nirmala Sitharaman said that the families will be allowed to procure pulses and food grains even if members are located in different states. This was announced as a relief measure for millions of India’s migrant workers. Presently, <a href="https://indianexpress.com/article/explained/one-nation-one-ration-card-system-explained-6410179/">20 states in India</a> have adopted this scheme and have implemented ration card portability in their jurisdictions. As per the latest statement issued by the government to the press, the scheme will be further extended to the remaining states by March 2021. As per the official data available, <a href="https://indianexpress.com/article/explained/one-nation-one-ration-card-system-explained-6410179/">around 81 crore beneficiaries</a> are covered under the National Food Security Act (NFSA) in all the states and Union Territories (UT). What will change with the launch of the scheme? Presently, around 23 crore ration cards have been issued to Indian families covering about 80 crore beneficiaries. As per the existing norms, every ration card is linked to a particular FPS in the locality where the family lives. Hence the given family can buy their supply of food grains only from the designated FPS. ‘One nation one ration card’ system will change this and when it becomes operational throughout the country, the beneficiaries will be able to buy food grains at subsidised prices from any FPS across the country. The beneficiary verification process The new system will work with help from technology. The beneficiaries will be verified through biometric authentication i.e. Aadhaar, and electronic point of sale (ePOS) devices will be installed at the outlets. How will the ration card portability system work? The technological platform required for the ‘one nation one ration card’ scheme will be provided by the Integrated Management of Public Distribution System (IM-PDS) portal (<a href="http://www.impds.nic.in/">http://www.impds.nic.in/</a>). This portal will make it possible for the migrant workers to purchase food grains from any FPS located in any state of the country. The other portal that will host the data regarding the food grains distribution through ePOS within a state is annavitran.nic.in. Once the ‘one nation one ration card’ system takes effect in a given state, the beneficiary family can purchase food grains from different locations. For example, a migrant worker staying in a different state can buy his or her share of the subsidized food grains from any FPS in the state where they work while the remaining family members will be able to buy their quota of the supplies back at home.

One nation one ration card: All you need to know about this scheme

<keyword id="6356006" type="UNKNOWN" weightage="20" keywordseo="Aadhaar-card">Aadhaar card</keyword> is issued to every citizen of India. Aadhaar card is a very important document when it comes to proof of identity and address and is mandatory for receiving all the welfare facilities provided by the government. Aadhaar card comes with the 12 digit unique identification number issued by the Unique Identification Authority of India (UIDAI). After an individual enrolls for the Aadhaar card by visiting an Aadhaar center, the card can be downloaded and printed. The UIDAI has now simplified the downloading procedure for Aadhaar card for the benefit of the citizens of India. It is possible to download it without many hassles even if you are not a tech savvy person. Here are a few ways to download the Aadhaar card. Downloading Aaadhaar card using Aadhaar number Visit the official website of the Aadhaar card authority of India <a href="https://uidai.gov.in/">https://uidai.gov.in/</a> Click on the option ‘Download Aadhaar’ or visit the link <a href="https://eaadhaar.uidai.gov.in/">https://eaadhaar.uidai.gov.in/</a> Select the option “Aadhaar” under the section “I Have” Enter your 12-digit Aadhaar number. If you do not want all the digits of your Aadhaar card displayed, choose the option “Masked Aadhaar” Input the captcha verification code. Click on ‘send OTP’ option. You will receive one time password on your registered mobile number. Input the OTP number you have received. Take the survey and click on “Verify And Download” for downloading the eAadhaar card. Downloading Aaadhaar card using Virtual ID (VID) This is the latest facility added to the UIDAI portal for downloading the Aadhaar card. Here are the different steps to downloading Aadhaar card using Virtual ID. Visit UIDAI’s online portal <a href="https://uidai.gov.in/">https://uidai.gov.in/</a> Click on the option “Download Aadhaar” From the “I Have” Section, select VID option. Input your virtual ID, pin code, full name and the security code. Click on ‘send OTP’ for generating OTP. There is also the TOTP feature for authenticating your request. Now E-Aadhaar will be downloaded to your system. To access the Aadhaar card downloaded in this way, you will have to enter the Aadhaar card password. Input the 8 digit password for opening the PDF file. To do this, you must input the first four digits of your name in capital letters and the year of birth. Downloading Aaadhaar card using Enrolment Number (EID) If you have forgotten your Aadhaar number or did not get your Aadhaar card still, it is possible to download the Aadhaar card with the help of Aadhaar enrolment number (EID). Here are the steps to downloading the Aadhaar card using EID. Visit the official Aadhaar website <a href="http://www.uidai.gov.in">www.uidai.gov.in</a> Click on the option “Download Aadhaar” Thepage will redirect you to https://eaadhaar.uidai.gov.in/ You need to input the values - your 14-digit enrolment ID number and 14-digit time and date When you see the next page, you will have to enter your full name, pin code, image captcha code Click on “Request OTP” which will generate an OTP Press on “Confirm” Button You will get the OTP on your registered mobile number Input the OTP you received and then click on the “Download Aadhaar” option

How to download Aadhaar card

<keyword id="2947589" type="UNKNOWN" weightage="20" keywordseo="Droom">Droom</keyword> has launched India’s first marketplace to get auto loan for used automobiles. <keyword id="4412414" type="UNKNOWN" weightage="20" keywordseo="Droom-Credit">Droom Credit</keyword> is end-to-end online and fully automated credit marketplace to get loan approval in 30 seconds with its own proprietary credit risk engine, unbeatable credit terms, paperless process, and fully automated work-flow management. The platform aims to capitalise on its world-class technological and data science capabilities to make the loan assessment process fully dynamic, hassle-free, and paperless to facilitate near-instant loans from lenders to borrowers. As part of the initiative, Droom has on-boarded BFSIs comprising commercial banks, <keyword id="6354598" type="ORGANIZATION" weightage="20" keywordseo="NBFCs">NBFCs</keyword>, and other financial entities with its initial service rollout. A proprietary algorithm-based credit risk management engine is used to power this consumer credit marketplace. <div type="embedgroup"> <div type="Article" hostid="261" msid="58163436" title="This is what will happen if Snapdeal gets acquired by Flipkart" rank="1.0" kind="RELATED" publishDate="Apr 13, 2017, 4:16 PM" mstype="2" mssubtype="0"></div></div>
 How does it work The platform conducts comprehensive loan assessment through its algorithm which computes multiple raw data points to analyse the creditworthiness of an applicant. This includes leveraging the India Stack i.e. Aadhaar, e-Sign and Digital Locker. The Marketplace also uses, PAN verification, credit score validation, income statement authentication, along with many other variables for objective, unbiased and instant credit evaluation. The proprietary algorithm comes up with an accurate credit decision within 30 seconds for 95% of the transactions. The decision also includes approximately 5% pre-approved applications that require further lender-side inspection. Thereupon, approved and pre-approved applicants are required to choose a lender with appropriate credit terms which comprise factors such as amount, duration, interest rates, and down payment. The application of the candidate is subsequently forwarded to the selected lender along with the assessment report.<div type="embedgroup"> <div type="Article" hostid="261" msid="58166464" title="BankBazaar data shows 126% increase in financial decisions online by women" rank="1.0" kind="RELATED" publishDate="Apr 13, 2017, 6:09 PM" mstype="2" mssubtype="0"></div></div>
 How does it help the lender Apart from the assessment report, Droom Credit comes equipped with Store Manager, a lender’s dashboard, raitngs and reviews, lender/buyer KYC and self-configurable credit risk panel . Store Manager grants higher flexibility and greater command to the lenders over the loan origination process. It allows lenders to modify profile settings, set credit terms, post document requirements, and set or manage credit risk profiles, along with other vital features. They can also override default algorithmic settings for all categories through the Store Manager. By doings so, lenders can set their own scores and weightages for their desired buckets. The platform will initially cater to automobile loans including used and new vehicles with a vision of becoming India’s most comprehensive, unbiased and independent way of acquiring instant loans. <div type="embedgroup"> <div type="Article" hostid="261" msid="58132345" title="Exclusive: Here’s what Google VP Rajan Anandan said about Jio’s Impact on the Telecom Sector" rank="1.0" kind="RELATED" publishDate="Apr 11, 2017, 8:55 PM" mstype="2" mssubtype="0"></div></div>
 Droom Credit gives buyers/borrowers the freedom to apply for loan anytime, anywhere using any device. There’s the flexibility to apply for a loan 24x7 not just following the traditional hours of 10 – 5. We keep user at the centre of everything, to ensure borrower and lender are equally benefited by this technological revolution. Lenders will no more have the headache of collecting the hard paper documentation, compiling files and explicitly checking the credit history.

Droom Launches Droom Credit – A Facility to get Auto Loan for Used Automobiles

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)

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