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News on Medial
Government launches new Aadhaar app: No need to carry photocopies anymore
Economic Times
·
4m ago
Medial
The Indian government has launched a new Aadhaar app, eliminating the need for physical cards or photocopies for verification. Introduced by Union Minister Ashwini Vaishnaw, the app offers digital Aadhaar sharing, empowering users with data control and consent. Featuring Face ID authentication and QR code scanning, it simplifies and secures Aadhaar verification. Currently in beta, the app ensures privacy with strong safeguards, and Vaishnaw highlights its role in India's digital innovation and future growth.
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Electric vehicle makers no longer need to be subsidised by govt: Gadkari
YourStory
·
11m ago
Medial
Union Minister Nitin Gadkari stated that there is no need to provide subsidies for electric vehicle (EV) manufacturers as consumers are choosing EVs and compressed natural gas (CNG) vehicles on their own. Gadkari noted that the manufacturing costs of EVs have decreased with increased demand. He asserted that the government does not need to provide significant subsidies for EVs anymore, and that the reduced Goods and Services Tax (GST) on EVs compared to petrol and diesel vehicles is already beneficial. Gadkari expects the cost of diesel, petrol, and EVs to be the same in two years.
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Govt plans 'risk-based' age-gating for social media, experts explain importance
Livemint
·
1y ago
Medial
The Indian government is considering a risk-based framework for social media and internet platforms to implement age-gating and parental consent systems. The plan aims to prevent minors from accessing inappropriate content and protect them from online predators. The framework may involve age verification using DigiLocker, Aadhaar-based authentication, digital tokens, or app store level verification. The government is emphasizing the need for stricter age-gating on social media platforms due to the higher potential for stranger-child interactions compared to other platforms like education apps or websites.
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Government launches Entity Locker for secure document management
Economic Times
·
7m ago
Medial
The government has launched Entity Locker, a cloud-based solution for secure document management, targeting organizations like MSMEs, corporations, and startups. Developed by the National E-governance Division of the Ministry of Electronics and IT, it offers real-time access and verification through integration with government databases and ensures secure document sharing and management. Entity Locker supports Aadhaar-authenticated access, features legally valid digital signatures, and connects with systems like the Ministry of Corporate Affairs for efficient compliance.
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Startups weigh government nod to use Aadhaar KYC for gig workers - The Economic Times
Economic Times
·
1m ago
Medial
Startups in food delivery, e-commerce, and ride-hailing sectors seek government approval for Aadhaar authentication to improve gig worker verification processes. Following a government crackdown on unauthorized Aadhaar usage, startups like Protean eGov Technologies are proposing secured channels for Aadhaar access. The move aims to streamline Know Your Customer (KYC) procedures and ensure secure onboarding. Discussions are ongoing about adopting Digilocker-based and redirection verification methods to comply with regulations and enhance identity verification.
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Govt eyes Big Tech, startups meet over DPDP Act age-gating
Economic Times
·
1y ago
Medial
The Indian government is set to discuss age verification and parental consent requirements under the Digital Personal Data Protection Act 2023 with tech executives this week. Previous solutions such as Aadhaar or electronic tokens have been deemed unfeasible due to difficulties in establishing parent-child relationships and the fast-paced technological changes. The Act mandates verifiable parental consent for users under 18, but concerns have been raised about compromising user safety and the need for clearer language and restrictions in the legislation. A potential solution proposed by Meta is app-store-level verification to streamline the process for parents.
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RBI Launches Framework To Secure Digital Payments
Inc42
·
1y ago
Medial
The Reserve Bank of India (RBI) has announced plans to issue guidelines for a principle-based framework for the authentication of digital payment transactions. The RBI Governor emphasized the need for additional factor authentication (AFA) to secure digital payments. The proposed framework aims to enhance the security of digital payments and promote the adoption of alternative authentication methods. The RBI also plans to simplify the onboarding process for Aadhaar enabled payment system (AEPS) providers and introduce measures for fraud risk management. This move reflects RBI's commitment to enhancing the efficiency and security of digital transactions in India.
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Revise Aadhaar to align with data privacy act, UIDAI told
Economic Times
·
4m ago
Medial
The Indian government plans to align the Aadhaar law with the Digital Personal Data Protection (DPDP) Act 2023, prioritizing user interests. The DPDP Act, notified in August 2023, necessitates amendments to the Aadhaar law to ensure compatibility. Union Electronics and IT Minister Ashwini Vaishnaw emphasized the importance of harmonization, with draft rules expected soon. The objective is to integrate appropriate data protection laws, enhancing privacy while fostering innovation and public service improvements through Aadhaar authentication.
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Small Savings Schemes: Income proof needed if investment exceeds Rs 10 lakh
Money Control
·
1y ago
Medial
The Indian government is tightening regulations on small savings schemes in an effort to prevent money laundering and terrorist financing. Customers investing in these schemes with India Post will be segmented into low, medium, and high-risk categories. All investors will be required to provide KYC documentation, including Aadhaar and PAN, as well as proof of address. High-risk investors also need to provide proof of the source of funds. Depositors in all risk categories will need to resubmit their KYC every few years. Failure to provide documentation may result in accounts being closed.
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The KYC Mutual Fund mess, and how to come out of it
Money Control
·
1y ago
Medial
Mutual fund (MF) investors in India are no longer required to re-do their KYC (know your customer) as long as they continue investing with their existing fund houses. However, if they want to invest with a new fund house, they will need to update their KYC using Aadhaar or any other officially valid document (OVD). Aadhaar remains the preferred document for KYC as it provides reliable identity verification. The KYC process includes validating the investor's mobile number and email ID. Non-resident Indians with non-Indian numbers cannot validate their mobile numbers and will be marked as "registered" instead of "validated."
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After Namma Yatri, Juspay Launches Auto & Cab-Hailing App Mana Yatri In Hyderabad
Inc42
·
1y ago
Medial
Juspay Technologies has launched a new ride-hailing app called Mana Yatri, following the success of its auto-rickshaw booking app Namma Yatri in Bengaluru. Mana Yatri, part of the ONDC network, allows users to book autos and cabs in Hyderabad. It offers a zero-commission business model for drivers and has already onboarded over 25,000 drivers, with plans to onboard 100,000 more in the next three months. The app is supported by the Telangana government and T-Hub incubator. It aims to enhance first and last-mile connectivity by integrating with public transport.
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