educratsweb logo


India’s Aadhaar-issuing authority asked digital wallets and mutual funds registrars to stop authentication using the 12-digit unique identification number.

The Unique Identification Authority of India also asked digital wallets to provide a confirmation of stopping Aadhaar-based services as well as their exit plans, according to its Oct. 12 letter. BloombergQuint has reviewed a copy of the letter.

This comes after Supreme Court last month termed Aadhaar authentication by private companies as “unconstitutional”. UIDAI had in June restricted digital wallets from accessing its database citing security concerns. It also classified banks as global authentication agencies and gave them unrestricted access to its database. Wallets, categorised as local agencies, were given on partial access.

“Since your organisation can no longer use Aadhaar-based authentication service in the light of the Supreme Court judgment, you may cease all operations with respect to Aadhaar-based authentication immediately, if not already done,” UIDAI said in the letter. These payments providers, according to the letter, have also been directed to agree with customer demands for delinking Aadhaar from their database.

Digital wallet companies like Eko India Financial Services Pvt. Ltd. and Payworld have confirmed receiving the UIDAI notice. Mutual fund registrars such as Karvy and myCAMS, and Insurance policy provider PolicyBazaar.com have also received similar notices.

But if banks can continue then it’s unfair to block prepaid payment instruments, said Praveen Dhabhai, chief operating officer of Payworld, which provides financial services for semi-urban and rural consumers. “Under Reserve Bank, we are also opening accounts which have different functionalities.”

The development was first reported by the Economic Times newspaper.

The withdrawal of Aadhaar-based verification is going to hamper the business of the fintech companies that rely on e-KYC for authentication, Dhabhai said, adding it will be difficult to onboard new users using physical verification. “The entire domestic remittance will be hampered.”

UIDAI Stops Digital Wallets
Contents shared By educratsweb.com

🔴Digital Signature DSC approval on EPF Portal and PF DSC java errors #Educational - Published on Wednesday June 10 2020
if you have any information regarding Job, Study Material or any other information related to career. you can Post your article on our website. Click here to Register & Share your contents.
For Advertisment or any query email us at educratsweb@gmail.com

RELATED POST
1 Simba Movie trailer Download | Talented India 
2 UIDAI to set up Aadhaar Seva Kendras
3 Mann Ki Baat 2.0 | Programme on All India Radio (30.06.2019)
4 आरबीआई दे रहा नौकरी का सुनहरा मौका
5 UIDAI Stops Digital Wallets
6
7 शिवराज का मप्र की राजनीति से अध्याय खत्म
8 PhonePe Scratch Card Offers - Chance to Earn Rs. 1000 Per Money Transfer
9 World Computer Literacy Day - December  02
10 IPL auction: Learn base price of players
11 CG Vyapam Recruitment 2019 : कई पदों पर भर्तियां
12 TCS switches to online test to recruit engineering graduates
13 Success of Digital India Initiatives a Hope for Poor and Developing Countries: Secretary General of the Commonwealth
14 Get the help to Find Land or Bhu Naksha UP by Digital Portal
15 How to Achieve the Common Core with Tech: Writing Strand
16 >Mann Ki Baat Highlights: PM मोदी को उम्मीद- अगले 'मन की बात' तक दुनिया में कोरोना से राहत की ख़बर आए
17 Shri Arjun Munda launches tribes India products on GeM and new website of TRIFED through video conference
18 Online Land Digital Portal - Excellent Services - Great Opportunities
19 Digital Marketing Kya Hai
20 IIIT Guwahati keeps up the spirit of EBSB by holdingPoster Making Competition“RAJASTHAN TOURISM AND TRAVELS”under Ek Bharat Shreshtha Bharat Campaign
21 Finance Minister announces Government Reforms and Enablers across Seven Sectors under Aatma Nirbhar Bharat Abhiyaan
22 All Bhu Naksha UP Information Easy by Digital Portal
23 Digital Marketing Kya Hai
24 PM interacts with social welfare organizations
25 Digital Marketing Kya Hai
26 Finance Minister announces short term and long-term measures for supporting the poor, including migrants, farmers, tiny businesses and street vendors
27 COVID-19: Relaxation from lockdown in Green zones
28 Transformation of manufacturing companies post COVID-19,Research be brought closer to Industryand collaborations in overcoming COVID 19 challenge:
29 Transformation of manufacturing companies post COVID-19,Research be brought closer to Industryand collaborations in overcoming COVID 19 challenge:
30 DST releases information brochure on health & risk communication programme focusing on COVID-19
31 CSIR-IIIM & Reliance Industries Limited (RIL) to develop RT-LAMP based test for Coronavirus
32 Various organizations and companies are showcasing their products in the exposition through a digital B2B lounge
33 Robust Digital Financial Infra Key to Successful Direct Transfer of Benefits to Target Groups
34 UGC takes various steps to monitor queries, grievances, and other academic matters of students, teachers, and institutions, related to COVID 19
35 “Hunar Haat” to restart from September 2020 with the theme of “Local to Global”
36 Sovereign Gold Bond Scheme 2020-21 (Series III) – Issue Price
37 Rs.1500 Crore disbursed at the door step using Aadhar enabled Payment System (AePS)
38 Delegation of leading Online Travel Agents (OTAs) meets Union Minister of State (I/C) for Tourism & Culture Shri Prahlad Singh Patel in New Delhi today
39 India as a major country of the world with appropriate technology, capital including FDI and extraordinary human resource contributing significantly to the global economy: Ravi Shankar Prasad
40 Global celebration of IYD2020 through digital platforms
41 Around 76 Online Job Fairs conducted by NCS during lockdown
42 Ajmer Smart City war room instrumental in fight against Covid-19
43 Ek Bharat Shreshtha Bharat programme to be taken forward using innovative ways in view of the prevailing conditions of COVID 19
44 Ministry of HRD releases roadmap for NCERT for the year 2020-21
45 Five-day expo to focus on Ayush & Wellness, Medical Devices, Medical Textiles & Consumables, Pharmaceuticals and Hygiene & Sanitization
46 Meeting of BRICS Heads of Tax Authorities held on May 29, 2020 – Held through VC
47 NCERT and Rotary India digitally sign MoU for e-learning content telecast for class 1-12 over all NCERT TV channelsin the presence of Union HRD Minister Shri Ramesh Pokhariyal Nishank
48 Shri Pralhad Joshi launches R&D Portal for AatmaNirbhar Bharat in Mining Advancement
49 TS DOST 2020: Telangana to begin common registration for admission to state-based colleges from July; visit dost.cgg.gov.in
50 MSDE-IBM Partnership Unveils Free Digital Learning Platform “Skills Build Reignite” to Reach More Job Seekers & Provide New Resources to Business Owners in India
We would love to hear your thoughts, concerns or problems with anything so we can improve our website educratsweb.com ! visit https://forms.gle/jDz4fFqXuvSfQmUC9 and submit your valuable feedback.
Save this page as PDF | Recommend to your Friends

http://educratsweb(dot)com http://www.educratsweb.com/content.php?id=158 http://educratsweb.com educratsweb.com educratsweb