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Centre mulls waiver of Aadhaar authentication fee: Report

Currently, Aadhaar authentication charges are Rs 20 for each know your customer (KYC) transaction and Rs 0.50 for each Yes/No authentication transaction.

June 28, 2021 / 02:59 PM IST
Lenders are required to pay authentic charges if they fall short of Aadhaar enrolment targets, and pay an amount in proportion to the shortfall.

Lenders are required to pay authentic charges if they fall short of Aadhaar enrolment targets, and pay an amount in proportion to the shortfall.

The government is weighing a proposal to scrap Aadhaar authentication transaction charges levied on banks by the Unique Identification Authority of India (UIDAI).

The finance ministry is expected to discuss the matter with the IT ministry and the UIDAI, The Economic Times has reported.

"It is being examined if a one-time relief can be provided for the period. The Indian Banks' Association has also sought such relief," a finance ministry executive told the publication.

Moneycontrol could not independently verify the story.

Banks are presently exempt from Aadhaar authentication charges. But lenders are required to pay authentic charges if they fall short of Aadhaar enrolment targets, and pay an amount in proportion to the shortfall.

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Currently, Aadhaar authentication charges are Rs 20 for each know your customer (KYC) transaction and Rs 0.50 for each Yes/No authentication transaction, The Economic Times reported.

"Banks have argued that they were not able to meet Aadhaar enrolment or updation targets by Aadhaar Seva Kendras due to Covid-19 pandemic," an official told the publication.

Banks are required to set up Aadhaar enrolment and update facilities inside their premises.

Banks have been requesting UIDAI to waive such charges for almost a year up to June 2021, similar to the waiver granted for March-June 2020.



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Moneycontrol News
Tags: #Aadhaar
first published: Jun 28, 2021 02:59 pm
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