MasterCard Worldwide, a leading global payments company, today said it has developed a payment solution for ‘Aadhaar’. ‘Aadhaar’ is a 12-digit Unique Identification Number (UID) that captures basic demographic and biometric information of Indian residents. The UID will make it possible for residents to establish their identity with financial institutions thereby providing them a gateway into the formal banking system. This payment solution will enable Aadhaar holders to perform payment...

The Unique Identification Authority of India is already seeing a massive explosion for bank accounts among people enrolling for Aadhaar or the unique IDs issued by the authority, its chairman Nandan Nilekani said. Some 80% of people enrolling for the IDs want bank accounts, he said at a lecture here organised by the Indian Institute of Banking & Finance on Thursday. “If we are able to provide every such person with...

In response to growing frustration that the U.N. climate negotiations are not producing real-world results, individual nations, states and business are cobbling together patchwork solutions to preserve forests, produce clean energy and scrub pollution from the air.Under this new approach, businesses in California will offset their greenhouse gas emissions by funding tropical forest preservation in Mexico and Brazil; Japan will help pay for nuclear power plants in developing nations; and...

Halt ongoing negotiations, says open letterWith Prime Minister Manmohan Singh set to hold talks with his counterpart in Brussels on trade and economic issues, a broad civil society alliance on Thursday called on the European Commission and India to immediately halt the ongoing negotiations for an India-EU Free Trade Agreement.The India-EU summit on Friday is likely to give a political mandate for working towards the conclusion of the FTA in...

The public face of the journalist is of a brave, feisty adversary to the rapacious establishment, not the party animal who will wilt before the charms of the corporate lobbyist.To succeed, a politician has to keep his ear to the ground. Yet success can be cruelly destructive; it is so deceptively flattering that it eventually insulates him from the very thing that has made him a success: public opinion. For...