Who can make use of the Aadhaar based e-KYC services?

Who can make use of the Aadhaar based e-KYC services?

Aadhaar based e-KYC is an electronic know-your-customer service that allows Aadhaar holders to voluntarily share their identity and address proof with various service providers in a paperless and secure manner. In this article, we will discuss who can make use of the Aadhaar based e-KYC services and how they can benefit from it.

Aadhaar based e-KYC services can be used by any individual or entity that needs to verify the identity and address of a customer or a beneficiary for providing any service or benefit. Some of the examples of such service providers are:

Service ProviderPurpose
Banks and financial institutionsOpening bank accounts, issuing credit/debit cards, providing loans, etc.
Telecom operatorsIssuing SIM cards, activating mobile connections, etc.
Insurance companiesIssuing insurance policies, processing claims, etc.
Mutual fund housesOpening folios, investing in schemes, redeeming units, etc.
Government agenciesProviding subsidies, benefits, pensions, scholarships, etc.

Aadhaar based e-KYC services can be availed by the customers or beneficiaries in two ways:

  • Online e-KYC: This method requires the customer or beneficiary to provide their Aadhaar number and biometric authentication (fingerprint or iris scan) to the service provider. The service provider then sends an online request to UIDAI and receives the KYC data of the customer or beneficiary in a digitally signed and encrypted format. The online e-KYC service is instant and accurate and reduces the cost and time of paper-based verification.
  • Offline e-KYC: This method allows the customer or beneficiary to download their KYC data from the UIDAI website or the mAadhaar app and share it with the service provider in a paperless and offline manner. The customer or beneficiary can choose which data (name, date of birth, address, gender, photo, etc.) they want to share and encrypt it with a passphrase of their choice. The service provider can then verify the authenticity and integrity of the KYC data using the digital signature and encryption of UIDAI.

Also, Read How can I download e-Aadhaar?

Who can make use of the Aadhaar based e-KYC services?
Who can make use of the Aadhaar based e-KYC services?

Aadhaar based e-KYC services offer several benefits to both the customers or beneficiaries and the service providers such as:

  • Privacy: The customers or beneficiaries can control which data they want to share and with whom. They can also avoid sharing their Aadhaar number as UIDAI generates a reference ID for each e-KYC transaction. The UIDAI does not keep any record of the offline e-KYC transactions and does not reveal any information without the consent of the Aadhaar holder.
  • Security: The KYC data shared by the customers or beneficiaries is digitally signed and encrypted by UIDAI to prevent any tampering or misuse. The service providers can also validate the KYC data using their own OTP or face authentication methods.
  • Convenience: The customers or beneficiaries can easily access and share their KYC data using their Aadhaar number or Virtual ID (VID) and their registered mobile number. They do not need to carry or submit any physical documents or photocopies for verification.
  • Inclusion: The Aadhaar based e-KYC services are voluntary and Aadhaar holder driven. Any individual or entity that has a valid Aadhaar number can use it for availing various services and benefits without any discrimination or exclusion.

Aadhaar based e-KYC services are a simple, fast, and secure way of establishing one’s identity and address proof using Aadhaar. They can help in enhancing the efficiency and transparency of various service delivery systems and promote digital inclusion in India. For more information on Aadhaar based e-KYC services, please visit HERE.

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