The rule of withdrawing money from banks will change! Now money will come out like this

The government keeps on making various changes from time to time in the banking system to prevent fraud and tax evasion. In this sequence, now the government is preparing to make some changes again in banking transactions. With this change, the government will try to prevent tax evasion along with strengthening the security in cash transactions. According to a Reuters report, the government will use face authentication and iris scanning of eyes to withdraw money from banks.

According to the new rule, now customers will be able to withdraw money from the bank only after verifying their identity through face authentication and iris scanning of the eyes. A report says that some private sector and public sector banks are going to implement it. According to a Reuters report, the government has also asked banks to introduce facial recognition and eye scanning for some large transactions.

In December, the Finance Ministry asked banks to take action on a letter by the UIDAI that where a person’s fingerprint authentication fails, verification should be done through facial recognition and iris scanning. The government has said that it is trying to bring a new privacy law by 2023.