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
Banks were advised to ensure that all
new cards are enabled to allow Aadhaar-based biometric authentication also with
effect from 1/1/17. This date has now been revised to 30/06/17. The timeline
for allowing Aadhaar-based biometric authentication in existing card will be
advised in due course.
Based on RBI circular dated 02/12/2016. For further
clarifications please refer www.rbi.org.in ………..