Being a faculty at a Bankers Training College, many a times I would refer the RBI master circulars for my sessions. Every time I found it a huge task. The language is complicated, Compound sentences were making it difficult to comprehend and above all the circulars are real lengthy. So I started simplifying them for my future consumption.
Why not share my work with others.
So my dear friends enjoy reading.
Aadhaar-based Authentication for Card Present Transactions
RBI has advised that banks are to ensure that all
new card acceptance infrastructure deployed with effect from January 1, 2017
should be enabled for processing payment transactions using Aadhaar-based
biometric authentication also.
Based on RBI notification dt 29/09/2016. For any further
clarification, please refer www.rbi.org.in