Government open DR and RBI working on offline Aadhar to open bank account

in the event of the supreme court order on Aadhar the government and the Reserve Bank of India or in the talk to allow use of offline Aadhar that really age on QR code in State of the biometric KYC.

for opening bank account operating payment wallet and purchasing insurance cover.

the movie significant as it will also benefit financial technology companies that have been providing the government to amend the law to make Aadhaar mandatory an option that the centre has Virtually ruled out for the moment .
the SC has ruled that Aadhaar based verification could not be done by private firms.
the court's decision not to make Aadhaar mandatory for bank accounts do it is so for welfare scheme beneficiaries lead to a discussion on the use of offline Aadhar where there is no link to Unique Identification Authority of India's server.
The print out with the QR code is digitally signed by UIDAI making it much more reliable than documents like ration card driving licence and voter ID.
but since the use of offline Aadhar has to be fascinated by the RBI the central bank needs to bring out a circular and has held two three round of discussion with UIDAI.
The Aadhar agency has suggested that KYC Master Circular be amended with which will also ensure that the rules are in synchronised with Supreme Court order.

Based on QR code offline Aadhar realise on QR code instead of biometric KYC.

movie significant as it will benefit financial technology park that have been providing government to amend laws to make Aadhaar mandatory.

Quotes decisions not to make Aadhaar must for bank account do a discussion on the use of offline Aadhar.

since RBI needs to bring out a circular on offline Aadhar it has helped to three round of discussion with UIDAI.

UIDAI push for offline Aadhar as tool for KYC.
the Supreme Court has ruled that Aadhar could not be mandatory for transaction other than those involving direct benefit transfer or Income Tax permanent account number.

but RBI is Alia circular men dating that use of Aadhar has meant that several bank or yet to implement the supreme court ruling which required them 2 tweak the system.
there was some confusion over the scope of apex court order and SBI short to withdraw as the EPS all together before UIDAI said this would be illegal.

sources told TOI the use of Aadhar even by bank and insurance companies will be optional with account holders and those looking to buy a life cover allowing to offer other identification document like voter ID ration card and driving licence to complete KYC requirement.

UIDAI has been pushing offline Aadhar at the tool for kvic offering it as a secure solution which help mask details on the name photograph and address this all details that all readily available and are needed for establishing a person ID.

Thank you very much.