MANU/REVU/0116/2022

Ministry : Ministry of Finance

Department/Board : Revenue

Notification No. : SO5683(E)

Date of Notification : 06.12.2022

Date of Publication : 06.12.2022

Referred IN

Industry: Finance

Central Government notifies that entities onboarded to perform authentication under the Aadhaar Act, 2016 for the purposes of section 11A of the Prevention of Money-laundering Act, 2002 using the e-KYC setu system be permitted to do so

S.O.5683(E).--In exercise of the powers conferred by sub-section (1) of section 11A of the Prevention of Money-laundering Act, 2002 (15 of 2003), in consultation with Unique Identification Authority of India (UIDAI), the Reserve Bank of India, the Securities Exchange Board of India, the Insurance Regulatory Authority of India and the Pension Fund Regulatory Authority of India, being the appropriate regulator, the Central Government, being satisfied that it is necessary to do so, hereby notifies that entities onboarded to perform authentication under the Aadhaar (Targeted Delivery of Financial and Other Subsidies, Benefits and Services) Act, 2016 (18 of 2016)(hereinafter referred to as the Aadhaar Act) for the purposes of section 11A of the Prevention of Money-laundering Act, 2002 using the e-KYC setu system be permitted to do so, after being satisfied that the e-KYC setu system complies with the standards of privacy and security under the Aadhaar Act.

2. The e-KYC setu shall be a system put in place by National Payments Corporation of India (NPCI) to enable verification of identity of a client or its beneficial owner by a reporting entity through authentication under the Aadhaar Act without disclosing the Aadhaar number of the individual to the reporting entity.

3. NPCI shall ensure that the authentication is carried out using the Aadhaar number of the client as per the regulations laid down by UIDAI, without disclosing full Aadhaar number to the reporting entity, and after carrying out authentication, NPCI shall share the last four digits of the Aadhaar number of the client, alongwith his demographic details made available to it by UIDAI, digitally signed by it, with the reporting entity and the reporting entity shall carry out identification of the client based on the details provided by the client and NPCI.

4. UIDAI may carry out such verification, including physical verification, as it may deem fit to ensure that the system put in place by NPCI is in compliance with the regulations issued by them a........