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Banks object to UIDAI’s decision of appointing Deloitte as sole agency for information security audits

Several banks have raised objection to UIDAI’s decision of appointing Deloitte as the only agency to conduct the mandatory Information Security (IS) audits in banks, financial companies, telecoms and other institutions that use Aadhaar-based authentication systems, a report from the Hindu said. According to bankers, not only has the move created a monopoly situation for Deloitte, but the charges specified to avail their services are too high, the Hindu reports. The issue first began in November last year when the UIDAI issued a circular mandating Deloitte as the sole agency for conducting the IS audits, the Hindu said. However, a month later, following multiple requests from banks, UIDAI issued a one-line circular, putting the decision on hold, the report added. Fast forward to April 4, UIDAI again issued a circular asking banks to ‘enter a contract’ with Deloitte since the firm has been ‘empaneled’ by it for a tenure of three years. According to bank officials, the April circular was the same as the November notice baring two differences. “One, words 'per site' [for charges] were removed, and it simply said 'per audit'; two, the specified rates for 'out of pocket' expense were removed,” said a private bank official to the Hindu. According to UIDAI’s latest circular, Deloitte would perform the mandatory IS audit once a year and charge a fixed fee of ₹1,94,700 per unit. Further, these ‘ecosystem partners’ will also need to pay for the travel, boarding and lodging of Deloitte officials, the communique said. Objection raised on several…

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