Drug testing is a common practice in the US and Europe, but it has only recently become a reality in India. Though there are no official statistics available, many experts agree that drug addiction is on the rise in the country. Drug testing may seem like an extreme step to take, but as organisations like Mr. Shah’s realise, it can be an effective way of dealing with the problem.
While it is still an unknown phenomenon, drug test for employees in india workplaces is an integral part of proper HR management. It helps employers detect, manage and treat potential drug abuse problems while protecting their employees and organization in the process. India’s drug problem has reached alarming levels over the past few years. The recent findings of the Ministry of Social Justice and Empowerment, Government of India in a report titled Magnitude of Substance Use in India 2019 have been an eye opener in assessing the actual magnitude of drug abuse in the country. Yet, drug screening remains untested waters for most organisations in India for varying reasons.
Drug testing is an essential part of pre-employment health screening and ongoing drug testing in the workplace. Drug testing can help to ensure that you have a safe and productive workforce by assisting in the reduction of employee involvement in onthe-job injuries, thefts, accidents, etc.
This is an alternative to physical and digital KYC, requiring prior consent of the customer. The onus of maintaining the processes’ integrity, however, solely lies on regulatory entities (REs). The RBI has mandated banks to shift from physical to paperless KYC for opening new accounts. Although many banks are yet to fully implement the same, some financial institutions have already developed their own solution for conducting video-KYC. To increase customer satisfaction and meet regulatory requirements, we have developed an end-to-end solution that can be used by all our delivery partners to conduct video-KYC efficiently.
Video KYC is the latest drive by RBI to curb the menace of money laundering, fraud and terror financing. This process requires the customer to share his/her KYC details via video conferencing facility either during account opening or prior to any high-value transaction. The paperless KYC feature saves time and paper. The process of video KYC is simple and secure, making it the most widely used method for customer onboarding globally. Video-based Know Your Customer (v-KYC) is an alternative to the usual physical and digital forms of KYC and can be done with the consent of the customer. The onus of maintaining processes’ integrity lies solely on regulatory entities (REs). Training RE agents will be a key challenge to conduct this exercise.
KYC or Know Your Customer is a process of verifying the identity of customers that banks are mandated to perform. This helps in identifying and preventing financial crimes such as money laundering and terrorist financing. Bankers at State Bank of India have found another way to conduct the KYC exercise: Video-KYC. This involves recording a video of an individual with his/her consent, uploading it on the bank’s servers, performing liveness detection by comparing live versus stored biometric sample; followed by an official or business correspondent conducting concurrent audit of documents to be shared by customer. Banks can use this process as an alternative to physical or digital KYC now that regulators have given permission.
