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India urged to turn digital verification into trust based economy using Aadhaar and UPI
India
Published on 7 May 2026
Why KYC friction still hurts trust nationwide
India’s economy is stuck in low trust and high friction, with complex KYC rules called out by Finance Minister Nirmala Sitharaman. The push now is to move to a trust based model that rewards responsible behavior. By using digital rails like Aadhaar and UPI, the country can cut verification costs, boost transparency, and build a clearer rules based system.
- Complex KYC norms are fueling low trust and high friction
- Sitharaman called for a shift toward trust based conduct
- Aadhaar and UPI can reduce verification and transaction friction
- The goal is a transparent rules based economy
Read the full story at The Economic Times
This summarization was done by Beige for a story published on 
The Economic Times