Flipkart and Amazon declared the use of Aadhaar for granting credit

Last Updated on October 11, 2018 by admin

Instant Card less loan against aadhaar

Flipkart and Amazon, both e-commerce giants, announced the utilization of Aadhaar for granting credit. It is a step taken which is in violation of the Supreme Court’s recent judgment. As per that verdict by Supreme Court, it disallowed private entities from using the national identity podium.

This step is taken by Flipkart and Amazon to push up their sales which allow the instant credit facility without the use of debit or credit card. It is a move to make it possible to take instant credit by the use of Aadhaar ID Number. These instant loans are offered to those users who discard a filled e-cart due to lack of adequate cash in hand or credit to carry out with their purchase easily.

Interest-free credit access for about 60000 rupees can be benefited via Flipkart and Amazon, e-commerce giant’s mobile apps. After signing up on these users can see in what way much credit has been approved after feeding up their PAN as well as Aadhaar card numbers. The amount to be approved will entirely depend on the user’s consumer shopping pattern as well as payment history on these online podiums.

Several lawyers with whom media spoke out and clarify regarding this credit scheme declared by Flipkart and Amazon alleged that this scheme is in direct infringement of Supreme Court judgment. P Wilson previous additional solicitor general of India supposed that the Supreme Court’s verdict is very apparent. There is no validation for private companies inquiring for such details.

Law firm Ramesh Kumar & associates, owner Mr. Ramesh said that companies could not ask for such details. Any company should not request essential Details like Aadhaar card and others for any scheme on their platforms. He added that Supreme Court judgment apparently bars the use of Aadhaar card details for any this type of schemes by private companies. This also brings up the query that Why could not UIDAI bar access for these players?”

A Flipkart spokesperson alleged that the company is committed to being totally complaint by means of extant laws and verdicts of the Supreme Court. On the other hand, an Amazon spokesperson said that complying with local regulations is on priority for the company.

 

 

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