UIDAI restores Airtel’s eKYC licence, payments bank remains suspended

Airtel

AirtelUnique Identification Authority of India (UIDAI) has restored the eKYC license of Bharti Airtel but the services of payments bank remain suspended.

“Airtel’s KYC (Know Your Customer) licence has been extended beyond March 31, subject to certain conditions. They will have to give a quarterly report of meeting various provisions under the Aadhaar Act,” said an official from Unique Identification Authority of India.

India’s largest telecom carrier faced a lot of flak when the license of its payments bank for Aadhaar based verification got suspended due to the violation of Aadhaar Act, 2016.

The firm was accused of using customers’ confidential details and opening up of accounts in the payments banks without taking their consent.

A fine of Rs 2.5 crore was levied on the payments bank and due to the fiasco the chief executive, Shashi Arora had to put down his papers.

"Exciting news! Elets Banking & Finance Post is now on WhatsApp Channels Subscribe today by clicking the link and stay updated with the latest insights!" Click here!

Elets The Banking and Finance Post Magazine has carved out a niche for itself in the crowded market with exclusive & unique content. Get in-depth insights on trend-setting innovations & transformation in the BFSI sector. Best offers for Print + Digital issues! Subscribe here➔ www.eletsonline.com/subscription/

Get a chance to meet the Who's who of the Banking & Finance industry. Join Us for Upcoming Events and explore business opportunities. Like us on Facebook, connect with us on LinkedIn and follow us on Twitter, Instagram & Pinterest.