wordpress blog stats
Connect with us

Hi, what are you looking for?

Airtel Payments Bank reportedly opened bank accounts without customer consent

Airtel Payments Bank has reportedly opened bank accounts without informed consent from its customers and has received a notice from the UIDAI, reports the Press Trust of India. Airtel's retailers have allegedly used Aadhaar e-KYC to open bank accounts for customers when they went to stores for verification of their SIMs. The UIDAI reportedly in its notice asked Airtel Payments Bank take immediate corrective measures and report back to the authority on the same. It added that opening accounts without informed consent is a violation of rules and is punishable with financial penalties. Meanwhile, Airtel sent a statement to MediaNama that it is compliant with UIDAI and Reserve Bank of India regulations. "Airtel Payments Bank is fully compliant with RBI & UIDAI guidelines and follows a stringent customer onboarding process. Airtel Payment Bank accounts are opened only after explicit consent from the customer . We will continue to educate retailers and strengthen our process to ensure transparency to customers and compliance with regulation," the company said. This month, Airtel Payments Bank claimed that it has 20 million customers while launching its UPI integration. Note that Airtel began its payments bank operations in November 2016 starting with 10,000 outlets in Rajasthan. Subsequently, it became the first payments bank to roll out services nationally. Airtel Payments Bank reported deposits of Rs 68.33 crore at the end of the financial year ended 31st March 2017, which was its first year of operation, according to its annual report. It’s top 20 depositors accounted for around Rs 20.45 lakh (around 0.3%…

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

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

Views

News

Amazon announced that it will integrate its logistics network and SmartCommerce services with the Open Network for Digital Commerce (ONDC).

News

India's smartphone operating system BharOS has received much buzz in the media lately, but does it really merit this attention?

News

After using the Mapples app as his default navigation app for a week, Sarvesh draws a comparison between Google Maps and Mapples

News

In the case of the ‘deemed consent' provision in the draft data protection law, brevity comes at the cost of clarity and user protection

News

The regulatory ambivalence around an instrument so essential to facilitate data exchange – the CM framework – is disconcerting for several reasons.

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