Moneycontrol

Budget 2023Budget 2023

PARTNERS

  • Tata AIA Life Insurance
  • Hafele
  • Motilal Oswal
  • SMC Global Securities Limited
Upcoming Event : LeapToUnicorn - mentoring, networking and fundraising for startups. Register now
Budget 2023
Budget 2023
you are here: HomeNewsBusiness

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.