As SBI's one-stop solution platform 'YONO' for accessing all the banking services digitally remained suspended following the Supreme Court's order on Aadhaar seeding, the bank has sought clarity from the RBI for an alternative solution, a top official said.
Niti Aayog will hold a meeting with all the stakeholders in digital payments industry over customer authentication issue after the Supreme Court verdict that restricted the use of Aadhaar details for KYC in availing host of services, including banking and telecom.
State-owned Bharat Sanchar Nigam Ltd (BSNL) has launched an alternate digital KYC process for issuing new connections across various circles, a top official has said.
Telecom operator Bharti Airtel began rolling out, in select circles, an 'alternate digital KYC process' for new connections, to replace Aadhaar-based electronic verification, a company official said.
DoT has asked telecom operators to be ready with an alternate verification process for approval from the department by November 5, as it ordered the operators to stop using Aadhaar e-KYC for the verification process.
Mobile service customers who want to get their Aadhaar details deleted from records of their telecom operators can do so by providing another valid document for verification, industry body COAI said.
The Government will not push for re-verification of mobile service customers and it will be done only if a customer opts to replace Aadhaar records with any alternate identity or address proof, the Department of Telecom (DoT) and Unique Identity Authority of India said in a joint statement.
The government has allowed directors to submit requisite KYC details by paying a reduced fee of Rs 500 till October 5, providing leeway for lakhs of directors who failed to comply with the requirement.
Markets regulator Sebi Tuesday approved a slew of proposals, including revised framework for settlement of cases and new KYC norms for foreign portfolio investors.
The government has started the process of de-activating the identification numbers of nearly 21 lakh directors of companies as they failed to comply with KYC norms, according to a senior official.