Some years ago a US bank demanded I do essentially the same thing, and I told them no. I'm not giving up my biometric ID (a face scan) for mere money. They took almost $1000 from me, and I still don't have it back.
I'm not giving that data to anyone for mere money. More than ten years ago India mandated it's citizens adopt biometric ID. Today you can buy the biometric data of more than 1B Indians for ~$80k. Once a hacker has your biometric data you are fucked for life, because you cannot change your biometric data like a password. I will not use biometric ID.
Thanks, but no thanks.