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The report of the expert committee on micro, small and medium enterprises (MSMEs) has suggested a “video KYC (know-your-customer)” process as an alternative to the existing electronic methods of verifying the identity of a person. It has also recommended several points for developing a robust start-up environment in India
Electronic KYC (e-KYC) and Aadhaar-based KYC has been a subject of much debate and opposition because of the high potential of misuse of biometric data, and the limitations of low-cost KYC equipment that often does not solve the purpose of performing identity verification.
The report has elaborated a nine-step process for
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