Govt may amend Act to make Aadhaar data valid ID proof

The ministry is considering an amendment to the Prevention of Money Laundering Act, or PMLA, to recognize online Aadhaar data to satisfy know-your-customer (KYC) requirements. This will pave the way for electronic, low-cost customer acquisition for banks and other financial institutions, saving them significant money spent on physical record-checking and documentation.

Once PMLA is amended to include online Aadhaar verification, a customer can approach a bank branch and give his unique identity number and biometric details to open an account, which will be electronically authenticated through the Aadhaar database. [source]

MTS to develop mobile app store for its customers

Notwithstanding cancellation of its 21 licences by Supreme Court, CDMA mobile service provider MTS India is expanding its business and now looking to partner with software and application vendors to develop an application store for its subscribers.

“Everyone is launching phones but no one is creating awareness on the use of internet on phone. We want to work on the eco-system around smartphones and provide applications specifically to be used by MTS customers,” Chief Operating Officer Mr Shankar Bali for Delhi NCR and Haryana Circle at MTS India [source].

Infosys, TCS, Sify bag Department of Post projects

The Department of Post (DoP) has issued Letters of Intent (LoIs) to Infosys, TCS, Sify and Reliance Communications Infrastructure for different technology advancement projects.

“Department is trying to induct technology in a big way. There are eight RFPs (Request for Proposal) we have floated and issued Letter of Intent in five (projects) to companies which include Infosys, TCS, Sify and Reliance,” [source]

IT companies to fall in line as the honeymoon ends

For the last 11 years, the IT companies were exempted from following the norms of the Industrial Employment (Standing Orders) Act 1946. But the exemption of these norms expired in August 2011.

“There is a demand for exempting IT companies from following these norms. We may exempt the IT companies on a case-to-case basis if any company approaches us. But companies that employ more than 50 people have to adopt the orders by the end of August 2012,” said SR Umashankar, labour commissioner. [source]

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