“With the increased awareness of digital transactions, this Union Budget presents a unique opportunity to catapult initiatives like Digital India and Cashless India. The most important part of the larger ingress of these initiatives is to provide a highly secure environment and technology that is failsafe in authenticating every e-transaction. The government must make an allocation towards mandatory adoption of iris recognition in the UID program as it offers the most accurate form of biometric identification currently available with extremely low FAR (False Acceptance Rates) and FRR (False Rejection Rates).
Additionally the BFSI sector should also universally use the iris recognition technology for authenticating digital transactions and payments which in-turn will help make it completely secure.. Security should not be considered as a luxury. In fact it should be prioritized as a necessity for everyone across all layers of society.” said Tamaal Roy, CEO, Biomatiques Identification Solutions Pvt. Ltd.