Large cash deposits may soon need Aadhaar authentication

As part of its latest efforts to crack down on the large flow of currency in the economy, the government is set to mandate Aadhaar authentication — either via electronic-KYC, using biometric tools or through a one-time password — in case you cross the specified value for a cash deposit. The move will be extended to several other highvalue transactions, where consumers currently need to quote their PAN.

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