Aadhaar custodian UIDAI has slashed the price for authentication by customers to Rs 3 from ₹Rs 20 per instance. The new charges will enable entities to leverage their infrastructure for providing ease of living to people through various services and benefits.
While speaking at Global Fintech Fest organised by NPCI-IAMAI, UIDAI CEO Saurabh Garg said that the potential of leveraging Aadhaar in the financial technology sector is immense. “We have slashed the rate from ₹20 per authentication to ₹3 and the objective has been to ensure that different agencies, entities should be able to use the power of digital infrastructure which has been created by the state that needs to be used to provide people with ease of living with dignity,” Garg said.
Last week, the Ministry of Communications has issued a series of orders simplifying the KYC processes and thereby initiating the telecom reforms announced by the Cabinet on September 15.
Customer consent has been made compulsory in case the Aadhaar is being used and demographic details are being obtained electronically from UIDAI.
Accordingly, the following orders for immediate implementation have been issued by DoT to implement contactless, customer-centric and secured KYC processes:
Aadhaar based e-KYC process has been re-introduced for issuing of new mobile connections. Telecom Service Providers will be charged Rs. 1 per customer authentication by the UIDAI. This is a complete paperless and digital process wherein the demographic details along with pictures of the customer is received online by the Telecom Service Providers (TSPs) from the UIDAI.