How is an Acid Attack Survivor’s Inability to Blink Linked to SC’s Verdict on KYC Rules?
In a landmark verdict, the Supreme Court of India has asked the Reserve Bank of India (RBI) to ease the Know Your Customer (KYC) norms, which have been a thorn in the side of many citizens, including acid attack survivors. The verdict came as a result of a petition filed by Pragya Prasun, an acid attack survivor who was unable to complete the KYC process due to her physical limitations.
Pragya’s Story: A Struggle to Complete KYC
Pragya Prasun’s story is a testament to the struggles faced by many acid attack survivors. In 2014, she was attacked with acid by her ex-boyfriend, leaving her with severe burns and disfigurement. The attack left her with a number of physical limitations, including an inability to blink.
When Pragya tried to open a bank account and get a SIM card, she faced a significant hurdle – the KYC process. The bank insisted that she provide a “live photograph” as part of the KYC process, which required her to blink. However, given her physical limitations, Pragya was unable to blink, making it impossible for her to complete the process.
Frustrated and helpless, Pragya filed a petition in the Supreme Court, which was later clubbed with other similar petitions. The court took note of the difficulties faced by Pragya and others like her, who were unable to complete the KYC process due to their physical limitations.
The Supreme Court’s Verdict: A Victory for Acid Attack Survivors
In its verdict, the Supreme Court asked the RBI to ease the KYC norms and make them more accessible to all citizens, including those with physical limitations. The court recognized that the current KYC norms were discriminatory and violated the rights of acid attack survivors like Pragya.
The court’s verdict is a significant victory for acid attack survivors, who have long faced significant challenges in accessing basic financial services. The verdict also underscores the importance of accessibility and inclusivity in financial services, and the need for regulatory bodies to take into account the needs of all citizens, including those with disabilities.
The Connection Between Blinking and KYC
So, how does an acid attack survivor’s inability to blink link to the SC’s verdict on KYC rules? The answer lies in the way the KYC process is currently designed. The process requires individuals to provide a “live photograph” as part of the verification process, which includes blinking. However, for individuals with physical limitations, such as Pragya, blinking is not possible.
The SC’s verdict highlights the need for the RBI to rethink the KYC process and make it more accessible to all citizens, including those with physical limitations. The verdict also underscores the importance of technology and innovation in making financial services more accessible and inclusive.
The Impact of the Verdict: A New Era for Financial Inclusion
The SC’s verdict has significant implications for financial inclusion in India. The verdict recognizes that financial inclusion is not just about providing access to basic financial services, but also about making those services accessible and inclusive to all citizens, including those with disabilities.
The verdict also highlights the need for regulatory bodies to take a more proactive approach in promoting financial inclusion. The RBI, in particular, has a significant role to play in promoting financial inclusion, and the verdict provides an opportunity for the regulator to rethink its approach to KYC norms and make them more accessible and inclusive.
Conclusion
Pragya Prasun’s story is a testament to the struggles faced by many acid attack survivors in India. Her inability to blink due to her physical limitations made it impossible for her to complete the KYC process, highlighting the need for regulatory bodies to rethink their approach to financial inclusion.
The SC’s verdict is a significant victory for acid attack survivors, and it marks a new era for financial inclusion in India. The verdict recognizes the importance of accessibility and inclusivity in financial services, and it provides an opportunity for regulatory bodies to rethink their approach to KYC norms and make them more accessible and inclusive.
As we move forward, it is essential that we prioritize financial inclusion and accessibility, and that we work towards creating a more inclusive and accessible financial system for all citizens.
