The Finance Minister of India Nirmala Sitharaman has directed all the banks to ensure that the bank accounts are linked with Aadhaar Card ideally by December 2020, if not, at least by 31st March 2021 at the virtual 73rd Annual General Meeting of the Indian Banks Association (IBA) held on 10th November 2020. The objective…
The Unique Identification Authority of India issues the 12-digit Aadhaar Number to all the residents of India which acts as the proof of identity and proof of address for availing government subsidies and benefits. The Aadhaar Number, however, is not a citizenship certificate but it is imperative to protect the security of Aadhaar and prevent…
The Department of Telecom has now allowed the use of Aadhaar Card or Virtual ID for the online verification (e-KYC process) of mobile connections with effect from 29th September 2020. In the e-KYC based process, the Aadhaar Authentication will now be authorized online using the customer’s Aadhaar number or virtual ID and biometrics to provide…
An Aadhar Card, the 12-digit unique identification number, is considered as one of the most important documents which act as a proof of identity for all the residents of India which is issued by the Unique Identification Authority of India. Besides being used for validating the identity of the Indian residents, it is also used…
In order to safeguard the rights of the underprivileged residents of India and to eliminate the identity thefts and fraud, the Government of India has advised all the citizens of India to link Aadhaar Card with various other documents. Recently, it has been made mandatory to link PAN Card with Aadhaar for filing the Income…
After the Supreme Court verdict on UIDAI’s (Unique Identification Authority of India) Aadhaar, many are still confused regarding the use of Aadhaar for availing various financial services. One such area of confusion is the use of Aadhaar for availing loans such as personal loans. In the following sections, we will discuss the truth regarding loan…
