{"id":30347,"date":"2018-10-26T15:31:15","date_gmt":"2018-10-26T10:01:15","guid":{"rendered":"https:\/\/blog.forumias.com\/?p=30347"},"modified":"2018-10-31T15:46:01","modified_gmt":"2018-10-31T10:16:01","slug":"banks-told-to-be-vigilant-on-aadhaar-2","status":"publish","type":"post","link":"https:\/\/forumias.com\/blog\/banks-told-to-be-vigilant-on-aadhaar-2\/","title":{"rendered":"Banks told to be vigilant on Aadhaar"},"content":{"rendered":"<p><a href=\"http:\/\/www.thehindu.com\/todays-paper\/tp-national\/banks-told-to-be-vigilant-on-aadhaar\/article23351188.ece\"><strong>Banks told to be vigilant on Aadhaar<\/strong><\/a><\/p>\n<p><strong>Context <\/strong><\/p>\n<p>The Unique Identification Authority of India (UIDAI) has asked banks to provide Aadhaar-based onetime password (OTP) for opening of bank accounts only in the presence of the customer, in a banking outlet<\/p>\n<p><strong>Backdrop<\/strong><\/p>\n<p>There have been instances of misuse of Aadhaar while opening accounts like usage of a stolen Aadhaar copy to open a bank account and obtain credit, debit card<\/p>\n<p><strong>Why these directions might be a huge blow to certain banks?<\/strong><\/p>\n<p>Some banks are heavily dependent on Aadhaar-based OTP authentication process for account opening (where the customers do not have to visit branches) or use tab banking to open accounts by visiting the customer\u2019s residence<\/p>\n<p><strong>Limits on accounts opened via Aadhaar-based OTP authentication<\/strong><\/p>\n<p>There are limits for accounts that are opened through Aadhaar-based OTP authentication process, like deposits cannot exceed Rs. 1 lakh and full KYC requirements, which is submission of documents and giving biometric details, were needed to be made in 1 year<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Banks told to be vigilant on Aadhaar Context The Unique Identification Authority of India (UIDAI) has asked banks to provide Aadhaar-based onetime password (OTP) for opening of bank accounts only in the presence of the customer, in a banking outlet Backdrop There have been instances of misuse of Aadhaar while opening accounts like usage of&hellip; <a class=\"more-link\" href=\"https:\/\/forumias.com\/blog\/banks-told-to-be-vigilant-on-aadhaar-2\/\">Continue reading <span class=\"screen-reader-text\">Banks told to be vigilant on Aadhaar<\/span><\/a><\/p>\n","protected":false},"author":61,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":""},"categories":[555],"tags":[],"class_list":["post-30347","post","type-post","status-publish","format-standard","hentry","category-test-1","entry"],"jetpack_featured_media_url":"","views":{"total":0,"cached_at":"","cached_date":1704914259},"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts\/30347","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/users\/61"}],"replies":[{"embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/comments?post=30347"}],"version-history":[{"count":0,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts\/30347\/revisions"}],"wp:attachment":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/media?parent=30347"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/categories?post=30347"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/tags?post=30347"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}