Tamaal Roy, CEO – Biomatiques Identification Solutions Pvt. Ltd on the Currency issue for your perusal.“Removal of big currency is the first step in preventing illegal financial activities.This step will result in rise in plastic money like debit card, credit card, online transactions. There will be new opportunities which will open up for poor and middle class people. The reach of real estate, education and health care will expand.” Said Tamaal Roy, CEO – Biomatiques Identification Solutions Pvt. Ltd.
“Technology plays a critical role in enhancing security at all levels, establishing identity and accountability thus becomes a major challenge with this initiative. With the banking sector moving towards cashless economy, it becomes very important for banks to keep the Aadhaar identity secured. Hence it is very important to include IRIS in the eKYC of banks and online portals. It can become very useful tool in the expert hands of law enforcement, vigilance, security and allied agencies”, he further added.