TrustID - GS questions based on daily current affairs

1)   Which of the following is/are true?

1) A new app TrustID has been launched for verification of bank transactions.
2) It is linked to the Aadhar number


a. Only 1
b. Only 2
c. Both 1 and 2
d. Neither 1 nor 2
Answer  Explanation 

ANSWER: Only 2

Explanation:

  • The application — TrustID — has been developed by Swabhimaanya, which is a registered authentication user agency with the Unique Identification Authority of India (UIDAI).
  • The mobile application aims to provide instant verification using the Aadhaar number, name, gender and phone number of a person in less than a minute. It is a sort of assurance that the person is who he/she is says he/she is.
  • The person who has been verified receives a phone call along with a message saying that their Aadhaar number was used to verify them.
  • The company plans to integrate with the application available digitized court records. They soon plan to add criminal records within the application. These will be linked to Aadhaar. If Aadhaar is not available, then a search can be made on the basis of name, phone number, location or photograph.
  • The application can be used to verify the identity of a person; it is broadly aimed at domestic helps and quick service segments like maids, carpenters, cleaners and plumbers.
  • The main source of revenue for the company, however, will come from corporate users doing bulk verification. For individual users, the first 25 verifications will be free of cost. Following this, each verification will cost Rs 5.
  • Swabhimaanya will target small and medium-sized enterprises, which need to verify users in a quick and cost-effective manner, besides insurance and telecom companies.
  • Besides the domestic help segment [which includes maids, cooks, drivers and babysitters], people are using the application to verify tutors, guitar teachers and gym instructors.
  • There is LinkedIn for professionals. But for people in this segment, there is nothing that can promote good work. This could also bring down instances of theft, as that can be mentioned in the review too.
  • TrustID has also tied up with Gurgaon police, where in once a person is verified under category of domestic help, employee and tenants, they are automatically registered for a police verification.