Advocate Khaja Aijazuddin said that the SBI corporate centre, Mumbai, issued a notification on January 26 stating that KYC updation has to be carried out periodically for all its customers.
One can self-volunteer to link Aadhaar and opt for the e-KYC process, which empowers customers, but customers can now opt not to, even it may limit credit access.
According to industry sources, all telecom operators have moved completely to e-Know Your Customer system to verify customers using Aadhaar
The Department of Telecom (DoT) in a letter dated September 19, 2018, to the UIDAI CEO said that the judgement on petition filed in the apex court challenging Aadhaar based e-KYC process
The RBI has also imposed a penalty of Rs 2 lakh on National Urban Co-operative Bank, Bahraich for non-filing of a return on asset and liabilities.
The Reserve Bank of India (RBI) has made linking of national biometric ID Aadhaar to bank accounts mandatory as part of it's updated 'Know Your Customer (KYC)' guidelines.
Paytm gives users an option to do KYC with any document as suggested in KYC guidelines.; Aadhaar number is not mandatory - he said.
The Unique Identification Authority of India introduced 'Virtual ID' (VID) to safeguard Aadhaar cardholders' data.
Airtel Payments Bank Managing Director and CEO Shashi Arora has resigned in the wake of the firm's eKYC licence suspension by Aadhaar-issuing body UIDAI.
The Aadhaar-issuing body UIDAI today allowed Bharti Airtel to conduct eKYC verification for its telecom subscribers till January 10 with stiff riders but maintained its 'suspension' order.
The action follows allegations of Bharti Airtel using the Aadhaar-eKYC based SIM verification process to open payments bank accounts of its subscribers without their 'informed consent'.
The Unique Identification Authority of India has temporarily suspended telecom major Bharti Airtel and Airtel Payment Bank's "Aadhaar linked e-KYC" services.