Delhi: New measures can be used to verify the identity of individuals making deposits and withdrawals of more than Rs 2 million in a financial year.
To reduce fraud and tax evasion, the Indian government has begun allowing banks to verify personal transactions that exceed a certain annual threshold using facial recognition and iris scans in some cases.
A few large private and public sector banks have started using this option, said a banker who declined to name the banks. Verification is not mandatory, and another government identification card used for tax purposes, the Permanent Account Number (PAN) card, is intended for cases where it is not shared with banks.
The prospect of banks using facial recognition worries some privacy experts, especially since there is no dedicated law on privacy, cyber security and facial recognition in India so far, says a cyber law expert. The government says it is aiming for parliamentary approval of the new privacy law by early 2023.
Aadhaar card has a unique number linked to a person's fingerprint, face and eye scan. In December, India's finance ministry asked banks to take "necessary action" on a letter from the Unique Identification Authority of India (UIDAI) suggesting verification through facial recognition and iris scanning, especially when an individual's fingerprint authentication fails.
The letter from UIDAI, which is responsible for Aadhaar card issuance, does not mention consent for verification. It also does not say that banks can take any action if a customer refuses.
In response to queries, a UIDAI spokesperson said that Aadhaar verification and authentication is done only with the express consent of the user. He also said that using Aadhaar-based biometric authentication will help prevent misuse.
The latest advisory follows a government order that made Aadhaar card or PAN number mandatory for deposits or withdrawals of more than Rs 2 million in a financial year.
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