Indian govt & RBI may Allow use of QR code-based offline Aadhaar
The Indian government and the Reserve Bank of India (RBI) are in talks to allow use of 'offline Aadhaar' that relies on QR codes. This would replace the biometric eKYC, for opening bank accounts, operating payment wallets and purchasing insurance covers.
This particular move is significant as it will also benefit financial technology companies that have been prodding the government to amend the law to make Aadhaar mandatory. It's an option that the Centre has virtually ruled out for the moment. The SC has ruled that Aadhaar-based verification could not be done by private firms.
Since the use of offline Aadhaar has to be facilitated by the RBI, the central bank needs to bring out a circular and has held two-three rounds of discussions with UIDAI. The court had ruled that Aadhaar could...
