biometric authentication

Labour ministry asks EPFO to ensure UAN activation through Aadhaar-based OTP; check steps

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Labour ministry asks EPFO to ensure UAN activation through Aadhaar-based OTP; check steps

The Ministry of Labour and Employment has directed the Employees’ Provident Fund Organisation (EPFO) to ensure that employees activate their Universal Account Number (UAN) using Aadhaar-based OTP. This initiative is designed to assist employees and employers in taking advantage of the Employment Linked Incentive (ELI) Scheme introduced in the Union Budget 2024-25. Activating UAN is … Read more

Know the difference between traditional KYC vs unified KYC

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Know the difference between traditional KYC vs unified KYC

In the rapidly evolving landscape of digital transactions, understanding the nuances between traditional know your customer (KYC) practices and unified KYC frameworks is important. KYC processes are fundamental in verifying the identity of customers and assessing the associated risks in financial transactions. While traditional KYC involves discrete verification procedures conducted separately by each financial institution, … Read more