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Indian banks to soon use face recognition and Iris Scan for transactions exceeding Rs. 2 million in a financial year

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In India, banks can use facial recognition and an iris scan to authenticate individual transactions that surpass a particular annual limit.

According to insiders, a few significant commercial and public banks have begun to use the option. The verification is optional and is intended for situations in which another government identification card required for tax purposes is not shared with banks.

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In December, India’s finance minister requested that banks take “required measures” in response to a letter from the Unique Identification Authority of India.

The letter advised that facial recognition and iris scanning be used for verification, particularly when fingerprint authentication of an individual fails.

According to an authority, using biometric authentication helps protect against potential misuse.

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