-The New Indian Express There are no easy solutions to some of India's chronic problems, which need to be tackled in a holistic, multi-dimensional manner. However, the United Progressive Alliance government does not think so. It has hit upon the idea of enacting a food security law in the mistaken belief that it will address the problems of poverty and hunger. An article in the pre-eminent medical journal, The Lancet, should...
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Use Aadhaar and EMV both for retail payments
-The Economic Times An RBI-appointed panel of bankers will decide on the appropriate technology for retail payments in a month. And the choice is reportedly between Aadhaar, the biometric-based unique identity system, and EMV, a globally accepted technology standard for credit card, debit card and ATM transactions, used by Visa and MasterCard. This is baffling. Why should it be one technology standard or the other? Both Aadhaar and EMV should co-exist...
More »New bank licences: The contenders -Dinesh Unnikrishnan
-Live Mint A SWOT analysis of 24 companies that are drawing up plans for their entry into banking Mumbai: The deadline for applying for a banking licence expires on 1 July. At least two dozen companies, both in the private and public sectors, are busy drawing up plans for their entry into banking, being opened up again a decade after the Reserve Bank of India (RBI) allowed the entry of two...
More »Aadhaar triple booster-Sobhana K
-The Telegraph The Unique Identification Authority of India (UIDAI) today unveiled three services that will help people authenticate their identity anytime, anywhere by just using their Aadhaar number instead of the card. The iris-based authentication, OTP (one-time password) and e-KYC (know your customer) services will ensure Aadhaar cardholders don't have to carry address or identity proofs to get a phone or cooking gas connection. Service providers like banks or telecom firms merely...
More »RBI probes Cobrapost report, reveals violations by banks: sources
-CNN-IBN New Delhi: The Reserve Bank of India is probing the Cobrapost sting operation on alleged money laundering by top banks. The RBI report has revealed major irregularities in top banks. The report shows string of violations on several counts. Sources say the RBI report reveals dummy PANs, unknown NRO IDs, unauthorised gold sale, rampant non-compliance of KYC norms and irregular staff trips. Sources say the RBI probe into ICICI Bank reveals cash...
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