Aadhaar

Freecharge cofounder Kunal Shah announced his new venture Cred

Fintech Players Look For Aadhaar Alternatives

CCI Rules In Favour Of Ola, Uber And Flipkart

Telcos can now issue only two connections a day for one ID and address proof

Telcos are further required to conduct proof of concept for new guidelines at minimum two locations

Telcos can still use offline verification tools like QR code

Fintech companies are currently waiting for RBI’s rule on digital verification

Supreme Court has scraped part of Aadhaar Act which allowed private companies to use the unique ID for eKYC

Telecom regulator has barred companies from using Aadhaar-based verification

According to World Bank’s Doing Business Report (DBR, 2019), India ranks 77th in ease of doing business across the globe

India-Japan Prime Ministers launched Startup Hub between India and Japan, India-Japan Business Platform among other initiatives

Google India had remitted a total of $2.18 Bn (INR 16,119.6 Cr) towards expense on “purchase of advertising space”

The order mandates Telcos to stop using the Aadhaar-based e-KYC for re-verification of its existing subscribers

The telcos have time till November 5 to comply with the ruling

The DoT has advised the companies to adapt an alternative digital method using a customer acquisition form

UIDAI directed digital payment companies to submit confirmation of closure of Aadhaar-related authentication

The RBI has green signalled the interoperability of prepaid payment instruments (PPIs) issuing norms

Amway has sent a notice to Flipkart for allowing Amway’s direct sale representatives for selling its products ‘illegally’ on its platform

The move came in after a few private banks suspend these services

UIDAI has now reiterated that direct benefit transfers (DBT) will continue to be Aadhaar-linked

The AePS system ensures that the government benefits and subsidy money reach directly in beneficiaries’ hands

The UIDAI has directed digital payment companies to submit confirmation of closure of Aadhaar-related authentication and exit plans

The letter has been sent only to non-banking companies

This development comes almost at the same time that telecom companies have submitted their exit plans

Vodafone Idea, Bharti Airtel and Reliance Jio have submitted their exit plans

The companies accepted that a sudden change in authentication process will be putting a financial pressure on them

Telecom companies believe Aadhaar-based authentication was easier and faster process especially for the rural market

The Supreme Court barred private companies from using Aadhaar to validate the identity of customers

UIDAI said any non-compliance of the ruling may lead to contempt of court proceedings

Over 500 Mn, or some 50% of India’s mobile phone user base, have linked their Aadhaar to their phone number

The judgment directly affects e-wallet payments and fintech companies (including P2P lending platforms)

Striking down parts of Section 57 of the Aadhaar Act imply that private companies would not be able to ask for Aadhaar authentication

It remains to be seen as to how the Aadhaar Act will be amended to address these practical problems keeping the spirit of the judgment intact

The IT Minister is said to hold a meeting with IT secretary and Unique Identification Authority of India (UIDAI) CEO

The Supreme Court has struck down the Sections 33(2), 47 & 57 Of the Aadhaar Act

Niti Aayog CEO Amitabh Kant has shared his disagreement with Supreme Court verdict