Bank News: Bank account holders must link their bank account to the base: RBI clarifies explanation on the ongoing reports from RTI

The card issuing company, Visa, is preparing a platform for online payment, in which the consumer is given a fingerprint, voice sample or a fingerprint instead of password for password approval.
Selfie must be given. Under this, the app of the bank, before making a payment, can ask the customer to photograph his DL or passport in addition to the selfie. After the photo match of any one of the selfies and the rest of the documents, further process will be done.

According to Mark Nelson, senior vice president of Visa's Risk and Authentication Products, the bank call center will not call the customer if there is any doubt about any transaction in the new platform. Rather, customers will be able to give their fingerprint with fingerprint recognition technology. They will also have the option to send a selfie or voice sample. In the voice recording, the customer has to speak a specific sentence.
The existing existing bank accounts will be linked to the base on December 31, 2017. If this is not the case, the account will be closed.
New Delhi: RBI has made it clear that it is mandatory to link all bank accounts with biometric identification number base. It is not mandatory to link the bank account with the base. After such reports, RBI has issued this explanation on Saturday.

In many reports citing the response received under RTI, it was said that the Reserve Bank of India has not given any order to add people's bank accounts inevitably on their basis. At the same time, the Reserve Bank has said that according to the Prevention of Money Laundering Rules, 2017, published in the official gazette on June 1, 2017, it is necessary to link every bank account with the basis. These rules are statutory, so banks do not have to wait for any instructions before applying them.

The government made the mandatory mandatory in June this year for opening a bank account and for transactions of Rs.50,000 or more. In 2017 budget, it was compulsory to add pan to the base to tighten the screws on more than one pan card holder.