Biometric-A Fraud Reduction Technology in E-payment and its impact on Inclusive Growth of India
Journal Title: International Journal for Research in Applied Science and Engineering Technology (IJRASET) - Year 2015, Vol 3, Issue 2
Abstract
Inclusive growth is very important for the progress of developing nations and it is not possible without financial inclusion. Government has already given directives on financial inclusion and most Indian banks and other institutions are taking requisite technological initiatives and solutions to support the policy. Automated Teller Machine has become popular in rural as well as urban areas of the country and it is a very strong chain in the direction of financial inclusion. This century will be known for technology innovations thus people are becoming more and more depended on e-banking, ATM and online money transactions to meet their needs. On one hand with extensive usage of technology people are feeling convenient but on the other hand the increase in financial fraud can’t be denied. The paper focuses on the ways of reducing financial frauds through biometric technology and the process of biometric identification. It also describes its role in strengthening financial inclusion and economic position of India.
Authors and Affiliations
Swatantra Kumar, Sanjay Baijal, Arjumand Bano
Keywords
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