Day: July 21, 2025

UIDAI CEO Bhuvnesh Kumar said the authority is currently testing the technology and expects it to be ready in the next 45-60 days. The project will be rolled out in a phased manner, beginning with schools and later extended to colleges for the second round of updates, which are required for children who attain the age of 15 years.

Further, the norms stated that banks should obtain consent from customers for providing digital banking services

Reserve Bank of India proposes new digital banking guidelines. Banks cannot display third-party products on their digital platforms. Banks must monitor transactions for fraud. Customer consent is needed for digital banking services. Banks need RBI approval to launch transactional banking. These measures aim to enhance security and customer choice in digital banking. Stakeholders can share comments until August 11.

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