wordpress blog stats
Connect with us

Hi, what are you looking for?

RBI Governor Raghuram Rajan on Aadhaar, Payments Banks, Over-Invoicing, Spectrum Auctions & More

The RBI Governor Raghuram Rajan batted for Aadhaar in his speech at the CK Prahlad Memorial Lecture last Friday, saying that in 2009 (he wasn't the RBI Governor then) and Prahlad, along with Abhijit Banerjee, had written to the then Prime Minister Manmohan Singh, "advocating, among other steps, accelerated efforts to bring out a unique ID in India. Perhaps, therefore, we all had a small role in the Prime Minister setting up the Unique ID Authority, headed by Nandan Nilekani." Rajan believes that the UIDAI is taking India towards a universal unique identity, and believes that "it would be sad if its use were severely restricted. Other countries like the United States have used unique IDs, such as social security numbers, without serious allegations of violations of privacy." In doing so, Rajan chose to ignore the criticism of the Aadhar project by a Parliamentary Standing Committee, under the Chairmanship of the BJP's Yashwant Sinha, and the fact that the United Kingdom had shelved its Unique Identity project following privacy concerns. Rajan said that India needs to see how it can satisfy the concerns of the Supreme Court without undermining the value of the unique ID, given the economic benefit, particularly, for the bottom of the pyramid. "For instance," he said, "not only can UIDs expand the access of the poor and young to credit as they borrow against the collateral of their future good name, it will also allow the regulator to detect and curb over-lending to individuals by asking…

Please subscribe/login to read the full story.
Written By

Founder @ MediaNama. TED Fellow. Asia21 Fellow @ Asia Society. Co-founder SaveTheInternet.in and Internet Freedom Foundation. Advisory board @ CyberBRICS

Free Reads

News

With GPS in every car, India's toll collection is going high-tech.

News

Google is currently undergoing the necessary procedures for the leasehold land, which is presently under the ownership of the Maharashtra Industrial Development Corporation.

News

The pilot project for which is being launched in 19 cities this year, with a plan to launch a full-fledged rollout next year.

MediaNama’s mission is to help build a digital ecosystem which is open, fair, global and competitive.

Views

News

NPCI CEO Dilip Asbe recently said that what is not written in regulations is a no-go for fintech entities. But following this advice could...

News

Notably, Indus Appstore will allow app developers to use third-party billing systems for in-app billing without having to pay any commission to Indus, a...

News

The existing commission-based model, which companies like Uber and Ola have used for a long time and still stick to, has received criticism from...

News

Factors like Indus not charging developers any commission for in-app payments and antitrust orders issued by India's competition regulator against Google could contribute to...

News

Is open-sourcing of AI, and the use cases that come with it, a good starting point to discuss the responsibility and liability of AI?...

You May Also Like

News

Google has released a Google Travel Trends Report which states that branded budget hotel search queries grew 179% year over year (YOY) in India, in...

Advert

135 job openings in over 60 companies are listed at our free Digital and Mobile Job Board: If you’re looking for a job, or...

News

By Aroon Deep and Aditya Chunduru You’re reading it here first: Twitter has complied with government requests to censor 52 tweets that mostly criticised...

News

Rajesh Kumar* doesn’t have many enemies in life. But, Uber, for which he drives a cab everyday, is starting to look like one, he...

MediaNama is the premier source of information and analysis on Technology Policy in India. More about MediaNama, and contact information, here.

© 2008-2021 Mixed Bag Media Pvt. Ltd. Developed By PixelVJ

Subscribe to our daily newsletter
Name:*
Your email address:*
*
Please enter all required fields Click to hide
Correct invalid entries Click to hide

© 2008-2021 Mixed Bag Media Pvt. Ltd. Developed By PixelVJ