This week in biometrics industry stocks

As the biometrics industry continues to grow and expand Biometric Update is bringing a new focus to some of the stock stories in the sector. Check in with this space each week for a rundown of some of the financial news emerging out of the group of biometrics industry stocks we like to follow. -Well-known financial news site theStreet.com mentioned the firm, Next Biometrics in a story that looked at stocks that jump in “value on news of terrorist attacks.”

India postpones PM’s plans to link Aadhaar to taxes

India’s Supreme Court said in a ruling that citizens cannot be forced to enroll for Aadhaar — a 12-digit unique identity number based on collected biometric information — to file tax returns, which could derail Prime Minister Narendra Modi’s plans to transition to a cashless economy, according to a report by Bloomberg. The Supreme Court partially stayed a law that made the Aadhaar card mandatory for filing returns or for obtaining a 10-digit alphanumeric code the Income Tax Department issues

UIDAI extends deadline for new security key for biometric authentication devices

Unique Identification Authority of India (UIDAI), the governing agency in charge of Aadhaar, has given a four-month extension to manufacturers and user agencies to comply with the new encryption requirements for biometric authentication devices as well as implemented a strict fine for those organizations that fail to comply by July 31, according to a report by Money Control. The authority originally set a June 1st deadline for manufacturers, banks and telcos to comply with the new requirements, but they will

Study finds India leading world in biometric technology adoption

HSBC published a new research report entitled ‘Trust in Technology’, which found that people in Asia and the Middle East are ahead of Western countries when it comes to the adoption of biometric technologies due to greater understanding and optimism instilling more trust, according to a report by Tech Observer. Based on a survey of more than 12,000 people in 11 countries, the report found that trust and adoption of new technology varies greatly around the world with the Eastern

Indian government makes biometrics mandatory for e-projects

The Indian government has made biometrics a mandatory consideration for all electronic government projects. In recently issued guidance notes for e-government implementation, consultant procurement and private/public partnerships, the central government has stated that it will encourage RFP applicant contractors to utilize biometric standards. Biometric standards include: fingerprint images, minutiae, face images and iris data. The guidance notes further stated that open source software and APIs are also mandatory, and that proprietary software should only be used in exceptional circumstances. The

Delta ID, Indus OS to release Aadhaar-authenticated OS for Indian consumers

Indus OS has partnered with Delta ID to launch the first-ever Aadhaar-authenticated operating system (OS) that uses iris recognition technology, according to a report by The Economic Times. The OS, which comprised of software and hardware, captures the iris-ID biometric information through a dedicated iris scanning camera built into the smartphone. “We look forward to our partnership with Delta ID, the market leaders in iris-based authentication technology, and expect to release the first Aadhaar-authenticated OS this quarter,” said Rakesh Deshmukh,

Report claims millions of Aadhaar registration and bank numbers compromised

According to the BBC News, a new report published by the Centre for Internet and Society claims that between 130 to 135 million numbers in India’s Aadhaar biometric registry system, and around 100 million bank numbers of pensioners and rural jobs-for-work beneficiaries, have been leaked online by four key government programs. Aadhaar is the 12-digit unique identification number issued by the Indian government to every individual resident of India. The Aadhaar project aims to provide a single, unique identifier which

Former chairman of UIDAI honored for economic and business innovation

The man behind the creation of India’s biometric national ID system has been awarded one of this year’s Nikkei Asia Prizes. Nandan Nilekani of India, former chairman of the Unique Identification Authority of India, was selected the winner for economic and business innovation. Nilekani led the creation of Aadhaar, the world’s largest biometric national ID system. Aadhaar is the 12-digit unique identification number issued by the Indian government to every individual resident of India. The Aadhaar project aims to provide

Delta ID developing affordable iris sensor units for Aadhaar-enabled smartphones

Delta ID is working on developing more affordable and accurate iris recognition technology for the Indian market to be integrated into smartphones so that they can be used in Aadhaar biometric verification, according to a report by Digit. The company recently held tests at MGNREGA in Telengana, as well as passed the Standardization Testing and Quality Certification (STQC) tests by achieving 99 percent accuracy. In January, the Indian government called on local smartphone vendors to develop sub-Rs 2,000 (US$29.36) smartphones

India’s tax department aiming to link bank accounts to Aadhaar by April 30

India’s tax department announced that all individuals who opened a bank account from July 2014 to August 2015 will have to submit know your customer (KYC) details and their Aadhaar number to banks and financial institutions by the end of the month, according to a report by The Times of India. Aadhaar is the 12-digit unique identification number issued by the Indian government to every individual resident of India. The Aadhaar project aims to provide a single, unique identifier which