Banks confused on biometric use post Aadhaar verdict-ex-RBI Guv
Banks and financial institutions, which have outsourced processing of their data, are now a worried lot because of the proposed ban on cross-border transfer of sensitive data which is proposed to include even passwords and financial data, he said.
According to him, the cost of operations of those fintech companies have tremendously increased consequently, affecting their profitability and also threatening their continued existence. Image source: Reuters