Positive Pay Introduction
Positive pay is a cash management service by Banks to prevent cheque fraud. The intent is to ensure that the cheques once issued are not tampered when they are presented for clearance. Positive pay service allows the Banks to match the details of the cheque issued with the cheque received before they […]
What is Aadhaar Masking?
Aadhaar and its regulations are governed by UIDAI. And as per UIDAI, Aadhaar masking refers to covering the first eight digits of Aadhaar number – in physical or digital form. More precisely, Aadhaar masking refers to concealing the first 8 digits of […]
Penny drop overview
Bank account verification or penny drop check as is commonly referred to is a way to verify the authenticity of a user’s Bank Account. This is achieved by depositing a small amount (usually a penny and hence the name) – usually INR 1 (one rupee) in the Indian context – which returns […]
1.What is Video KYC
Video KYC allows a regulated entity to open an account-based relationship with a customer without meeting the customer face to face. The customer can, through a video call, chat directly with a Banker, provide all the identity documents to verify […]
The move removes the need to go into a branch, invite strangers to the house, share paper copies, or wait for days for the account-opening process to be completed. Instead, the customer can, through a stroke of a video call, chat directly with a Banker, provide all the identity documents to verify who they are […]
‘Know Your Customer’ or ‘KYC’ – as is the popular term for identity verification – follows a citizen like a shadow, throughout life, for a range of rights and services, intricately linked to one’s progress from education to employment to healthcare and finance. Imagine the lack of education for lack of KYC; or lack of […]
What is Aadhaar masking?
As per UIDAI, masking refers to covering the first eight digits of Aadhaar number – in physical or digital form. More precisely, masking refers to concealing the first 8 digits of the Aadhaar Number in your Application and the Aadhaar Card Image (captured as POI or POA).
Lack of identity is an impediment for people to exercise their basic democratic and human rights. Digital identification can help overcome barriers to participation (World Bank Report, 2016).
‘Know Your Customer’ or ‘KYC’, follows a common man like a shadow for a range of rights and services. Insurance, investment, health, education, social welfare […]
Q. What is PRISM and what can it do?
A. PRISM is a database of over 5 million International Revenue Share test numbers (IRSF), as at 20 October 2020, which are provided by IPRN resellers to test that a revenue share destination and number range can be called from a given location. These test numbers, […]