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India Business News: Indian commercial banks are considering using iris scans for transaction verification, especially for senior citizens, due to reliability issues with
The banks are in talks with Reserve Bank of India (RBI) among stakeholders, for using iris scans as ageing has been found to distort fingerprints or thumb impressions, making them less reliable for authentication, the people said.
Find out how the Reserve Bank of India (RBI) is planning to introduce offline e-rupee transactions and what it means for users. Learn about the new features and benefits of the Central bank digital currency (CBDC) pilot project.
People aware of the matter said the panel’s members expressed unhappiness over the spiralling cases and the lack of coordination on tackling cyber financial fraud | Latest News India
The fraud does not require SMS or OTP authentication, which is much more concerning. According to the reports, the Indian market has apparently seen an increase in a new type of scam employing Aadhaar cards.