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No new notification from RBI preventing Aadhaar eKYC by private banks: RTI

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A Right to Information (RTI) query has revealed that the Reserve Bank of India (RBI) has not issued any updates to the eKYC norms for its regulated entities. This is 56 days after the Supreme Court struck down provisions of the Aadhaar Act, therefore disallowing private entities from using Aadhaar eKYC. The RTI was filed by Srikanth L. (The RTI responses embedded at the end of the story.) Last year, the prevention of money laundering rules were amended to make the Aadhaar KYC mandatory. However in the RTI, the RBI said that on July 12, 2018, the RBI amended its master directions on KYC to change in accordance with the Supreme Court's judgement. The RBI regulates banks, wallets, payment system operators in the country. Meanwhile, the RBI has not clarified on the status of Aadhaar eSign nor has it indicated if micro ATMs will be allowed to use the Aadhaar Payments Bridge (APB) or Aadhaar Enabled Payments Systems (AePS). The reply to the RTI query simply said: "RBI has granted approval to NPCI to operate Aadhaar Enabled Payments System and Aadhaar Payments Bridge System under the provision of the Payment and Settlement Systems Act, 2007." eSign is an online electronic signature service which can be integrated with service delivery applications via an API to facilitate an eSign user to digitally sign a document. The electronic signature is facilitated using the authentication of the eSign user through e-KYC service.  Read: Adobe integrates Aadhaar KYC for pushing e-signatures; where it cannot be used What…

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