Sep'12 - Punjab National Bank Institute of Information Technology

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e-track Editor Pramod Dikshit Editorial Team Rashi Katiyar Sanjay Srivastava Sweety Dube Printed by e-track Dharmendra Tewari Swastik Printing Press 27, Mai Gi Ki Bagiya, Kapoorthala Crossing, Mahanagar, Lucknow Mobile : 9415419300 punjab national bank institute of information technology Vibhuti Khand, Gomti Nagar, Lucknow--226 010 (U.P.) T : +91 522 2721442, 2721174 F : +91 522 2721201, 2721441 E-mail : bankingtech@pnbiit.ac.in URL : www.pnbiit.ac.in Thought Beyond a wholesome discipline, be gentle with yourself. You are a child of the universe, no less than the trees or the stars; you have a right to be here. -Disiderata Dear Readers, FROM THE EDITOR When implemented and adopted efficiently, the Unique Identification (UID) project possesses the power to eliminate financial exclusion, enhance accessibility, and uplift living standards for the majority of poor. This can be achieved when the UID is effectively associated with pro poor welfare projects like the NREGS. The Unique Identification Authority of India (UIDAI) aims to issue a unique identification number to all Indian residents that is (1) robust enough to eliminate duplicate and fake identities, and (2) can be verified and reliably authenticated in an easy, cost-effective way. The ability of UID to positively establish and authenticate the identity of every individual can overcome many of the challenges faced by targeted benefit programs. In this issue of our e-Track magazine the focus is on UID. We have an article written by Ms. Anumecha Bhasker, Professor Richa Jindal and Ms. Navati Jain telling us about identifying and handling vulnerabilities in Biometrics of UID. Ms. Namrata Nagpal is telling us through her informative article the evolution and growth of electronic payments in India. How AADHAAR can be instrumental in getting electronic payment system seamless. Mr. Umanath Kumarasamy tells us through his research based article that with the help of technology empowerment and increasing use of Smartphone and tabled based devices has increased the use of mobile banking many fold. Happy reading ................... Pramod Dikshit Contents From The Director's Desk 3 Biometrics In Uid: A Framework To Identify And Handle Vulnerabilities 4 Emergence Of Mobile Banking –the Indian Scenario 13 Evolution And Growth Of Electronic (e-payments) In India 18 News 22 october 2011- september 2012 2
e-track FROM THE DIRECTOR'S DESK It gives me immense pleasure to write this column especially when the Institute is entering a new phase of development. After the huge success in running five consecutive batches of our flagship programme “Advanced Diploma in Banking Technology”, with a 100% placement record, we have started a one year upgraded ADBT course (2012-2013) approved by the IBA. The industry today perceives the Institute as a premier state-of-the-art organization undertaking training in the domain of banking and information technology. For our Institute, the coming years are crucial for consolidation of what has been achieved and focused efforts are needed to put on wheel the thoughts and actions towards accomplishment of the vision. I congratulate the team of PNBIIT for all achievements and thank all learned members of Governing Body and Academic Council of PNBIIT and all eminent personalities of different premier organizations who associated with the institute and contributed for its development. We have been publishing articles related to various domains of banking and IT. In this issue of e-track the focus is on UID as we have recently seen a wave of registrations and controversies surrounding the same. The Unique Identification Authority of India has envisioned the UID as a number that will make it possible for Indian residents to easily verify their identity to public and private agencies across the country. The UID will pave the way for a variety of applications that leverage the reliable authentication the UID offers, within their infrastructure. Aadhar has an impact in financial sector especially micropayments. Despite the huge transformation of India's economic and regulatory structures, access to finance has remained scarce in rural India, and for the poorest residents in the country. Today, the proportion of rural residents who lack access to bank accounts remains at over 40%, and this rises to over three-fifths of the population in the east and north-east parts of India. To mitigate the lack of financial access in India, the regulator has focused on improving the reach of financial services in new and innovative ways – through no-frills account, the liberalization of banking and ATM policies, and branchless banking with business correspondents (BCs), which enables local intermediaries such as self-help groups and kirana stores to provide banking services. Related efforts also include the promotion of core-banking solutions in Regional Rural Banks. B. K. Mahindroo (Director) 3 october 2011- september 2012
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Sep'12 - Punjab National Bank Institute of Information Technology

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