Wednesday, Sep 23, 2020 | Last Update : 06:29 AM IST

182nd Day Of Lockdown

Maharashtra122438091634833015 Andhra Pradesh6317495518215410 Tamil Nadu5473374919718871 Karnataka5268764233778145 Uttar Pradesh3588932895945135 Delhi2492592133045014 West Bengal2283021989834421 Odisha184122149379763 Telangana1726081419301042 Bihar169856155824870 Assam159320129130578 Kerala13863398720554 Gujarat1247671051913337 Rajasthan116881972841352 Haryana113075908841177 Madhya Pradesh108167836182007 Punjab99930754092860 Chhatisgarh8618347653680 Jharkhand7267358543626 Jammu and Kashmir65026421151024 Uttarakhand4177729000501 Goa2875322726360 Puducherry2319118065467 Tripura2227215441245 Himachal Pradesh124387836125 Chandigarh102987411123 Manipur9010683859 Arunachal Pradesh7385540813 Nagaland5544445110 Meghalaya4733252838 Sikkim2447190529 Mizoram158510120
  Business   In Other News  12 Nov 2018  Niti Aayog to hold meeting with digital payments industry on KYC issue

Niti Aayog to hold meeting with digital payments industry on KYC issue

PTI
Published : Nov 12, 2018, 5:18 pm IST
Updated : Nov 12, 2018, 5:18 pm IST

Niti Aayog had requested ITU to help India in the digital payment space as well as capacity building.

Ficci and the Niti Aayog on Monday jointly organised a workshop on the 'Online Digital Payments Programme'.
 Ficci and the Niti Aayog on Monday jointly organised a workshop on the 'Online Digital Payments Programme'.

New Delhi: Niti Aayog will hold a meeting with all the stakeholders in digital payments industry over customer authentication issue after the Supreme Court verdict that restricted the use of Aadhaar details for KYC in availing host of services, including banking and telecom.

"I will have a round table with the stakeholders. There are some issues which have come up from the industry, we will sit down and see what the issues are and find out how to move forward. The industry is saying that it may hamper the digital payments system," said Ratan Watal, Member Secretary – PMEAC and Principal Advisor, Niti Aayog on the sidelines of a digital payments programme.

 

Ficci and the Niti Aayog on Monday jointly organised a workshop on the 'Online Digital Payments Programme' aimed at capacity building and imparting training to the officials working in this area.

In its ruling on September 26, the Supreme Court had declared the government's flagship Aadhaar scheme as constitutionally valid but struck down some of its provisions including its linking with bank accounts, mobile phones and school admissions.

Also, it is not mandatory for school admissions, as also for the examinations conducted by the Central Board of Secondary Examination, National Eligibility cum Entrance Test for medical entrance and the University Grants Commission. However, it remains mandatory for filing of IT returns and allotment of Permanent Account Number (PAN).

 

Watal said even as digital payments have been going up, there is a need to work further with the payments systems and see areas such as banking and financial institutions where officials need to be trained.

They also need to be trained formally about what digital payment mechanism is, how it works, what are the legal frameworks, international ramifications, among others.

He said a memorandum of understanding (MoU) was signed by the Niti Aayog, Department of Telecommunications and United Nations' specialised unit -- International Telecommunication Union (ITU) -- few months ago.

"ITU has done a lot of work in this field in the emerging economies on digital payments. With their help we prepared a three module programme aimed at how to improve digital payment space in India," he said.

 

He also said that the Niti Aayog had requested ITU to help India in the digital payment space as well as capacity building.

"If they have some programmes or training on AI or blockchain we can use that. At this stage, it is just an idea, so let's see how to go about with this," Watal said. 

Tags: niti aayog, aadhaar card, digital payments, kyc, supreme court, dot
Location: India, Delhi, New Delhi