The Horrors of KYC | Episode 74 | Everything is Everything

[@rizus100]

I saw the thumbnail and thought I would watch this while having lunch, that's when I usually watch EIE. But I couldn't resist. Just yesterday a letter to submit the KYC came for my father from a bank. He has already been to the bank twice trying to get it done. Every time some issue or the other coming up! Another bank has been incessantly sending me emails, sms for years asking me to submit the KYC. I gave in to the temptation. Here I go take my weekly dose of EIE with a smile on my face! :-)

[@amitvarma]

Sorry to hear about your troubles!

[@AnonymousAntony-o8q]

Making Aadhar mandatory is violation of Fundamental right. Fundamental right is also to be able to earn one's livelihood. Disabling millions of PAN cards is also violation of Fundamental rights. Aadhar violates the privacy of the citizens. Linking Aadhar to every other identities, is the mark of surveillance state.

[@pran10000]

Fantastic conversation. KYC+Aadhar+CBDC = 1984

[@mevivek56]

This is a absolute gold conversation,

[@aviralgupta393]

also the bonus chapter was gold 😜

[@atharwasarnobat6952]

On the subject of surveillance, in the US, the Foreign Intelligence Surveillance Act, or FISA, allows the US to mass-surveil US citizens for reasons of "national security." However, intelligence agencies are still required to submit warrants to secret FISA courts with legal justification required to initiate the process, which was as simple as two button clicks for them in the programs that they used such as XKeyScore. In India, any pretence for the legal process has been completely dropped as the Intelligence Bureau has warrantless wiretap authority under the Telegraph Act.

[@amitvarma]

Thanks for the added info. And yeah, India going a step further, sigh...

[@KhattaMeethaOficial]

Sir USA is Far more Hight tech and Secure on 3 Sides unlike India who is Bordered from 3 Sides with Archrivals (So called)……

[@mundemama]

feels so sad and agitated after listening to chapter 1

[@shubhamjaiswal2337]

Hum First hum first.

[@satendrathakur1713]

Kaagaz (starring Pankaj Tripathi) is based on the story of Lal Bihari Mritak.

[@amitvarma]

Gotta watch it!

[@Modiyogimodiyogimodi]

The most inhuman, draconian and infringing form of kyc is the online life certificate, where an app based face recognition algo is tasked with figuring out whether its subject is alive or not and should get her pensions. Privacy dignity? Or pension in the bank? your choice, choose one.

[@amitvarma]

Good god, that is monstrous. First I'm hearing of it. Dehumanising.

[@yushpi]

What's your solution?

[@RameshPareva]

My mother used to get pension from US govt. They never asked annual life certificates. Basic trust

[@oflavia2910]

So on ajays finance knowledge of capital markets, how do delisted, defaulter co or non traded demat shares get removed from demat accounts when DPs, sebi nsdl rtas , no one knows what to do with them ?? Seems to have fallen among cracks.

[@sanjaysajeev]

What an end! 😂

[@Logic_Chimp]

Would be interesting to know your thoughts on cryptocurrencies - an analysis of what works and what doesn’t work about them. Their origins are rooted in ideas similar to ones discussed in this episode.

[@aviralgupta393]

the answer for why aadhaar didn't solve this given in the video, as I understood it is: the state doesn't accept aadhaar as KYC is because it does not want to which is because officials feel that their ass is not sufficiently covered by aadhaar. Am I correct in my understanding?

[@MegaPushpesh]

I had not applied for aadhar earlier. Though i have everything other documents, passport pan card voter id driving license, but now i have become almost a Termite as i don't have aadhar My bank account is frozen drving license not getting renewed. Passport not getting renewed. I had applied for aadhar but now it has failed to provide me addhar even after 4 months. I had everything and i m indian tax paying citizen but now i m like kafka cockroach. Anyone with kind hearts who can help with legal opinion or guidance or highlight my problem

[@amitvarma]

Sorry to hear about your troubles. This is just horrible. I hope things get resolved soon.

[@MegaPushpesh]

Kindly continue doing this stuff​@@amitvarma

[@MegaPushpesh]

According to puttuswamy judgement, aadhar is not necessary for account opening but they ask of it as mandatory. It is contempt of court but who cares. Anyone justices

[@anandnaa]

No one ask it,you can GIVE OTHER OVDs

[@MegaPushpesh]

@anandnaa try giving i bet you. What is written on paper and what is asked verbally are different. They ask verbally not officially. Happy to explore with you the situation any time.

[@RameshPareva]

There is no other single document other then Aadhar which works as ID + address proof so mighty aadhar is inevitable

[@ramananvenkataraman4594]

Unnecessary fuss about KYC. There is some elitist nonsense