Reserve Bank of India unleashes account number portability

Reserve Bank of India (RBI), the country’s central bank and regulator, has asked banks in the country to work towards implementing a system that allows users to port their account from one bank to another, without changing the account number.

The Monday mindset: 3 April 2017

Fintech zeitgeist! Every Monday, we might look back at last week; look ahead to this week; share a few thoughts (our own or others); or discuss anything that catches our eye. This week, Soumik Roy looks at how India has quite a lot of fintech activity in its retail market. Did you notice? For the […]

DCB Bank plans iris scans for banking

DCB Bank, a private sector bank in India, plans to allow customer transactions and account opening through iris scans for Aadhaar authentication. The Aadhaar infrastructure, created by the Unique Identification Authority of India (UIDAI), onboards customers and provide them with online services. UIDAI collects the biometric and demographic data of residents, stores them in a […]