Tag Archives: e-KYC

aadhar authentication e-KYC licence

RBI is vide its circular dated 13th September, 2021 opening up the window for NBFCs, payment system providers and payment system participants to obtain aadhar authentication e-KYC licence (KYC User Agency) or sub KUA. What is this now? I wonder what happened to the Central KYC registry. There are no parameters specified, which means any such NBFCs etc. can apply?

https://www.rbi.org.in/Scripts/NotificationUser.aspx?Id=12161&Mode=0

Application for Aadhaar e-KYC Authentication Licence

In terms of Section 11A of the PML Act, 2002, entities other than banking companies may, by notification of the Central Government, be permitted to carry out authentication of client’s Aadhaar number using e-KYC facility provided by the Unique Identification Authority of India (UIDAI). Such notification shall be issued only after consultation with UIDAI and the appropriate regulator.

A detailed procedure for processing of applications under the aforementioned Section for use of Aadhar authentication services by entities other than banking companies has been provided by the Department of Revenue, Ministry of Finance vide their circular dated May 9, 2019.

2. Accordingly, Non-Banking Finance Companies (NBFCs), Payment System Providers and Payment System Participants desirous of obtaining Aadhaar Authentication License – KYC User Agency (KUA) License or sub-KUA License (to perform authentication through a KUA), issued by the UIDAI, may submit their application to this Department for onward submission to UIDAI. The applications can also be forwarded over email. The format of the application is provided in the Annex to this circular.

Leave a comment

Filed under banking laws

e-KYC on GST portal

update from GST portal.

Aadhaar Authentication / e-KYC for Existing Taxpayers on GST Portal

07/01/2021

  1. Functionality for Aadhaar Authentication and e-KYC where Aadhaar is not available, has been deployed on GST Common Portal w.e.f. 6th January, 2021, for existing taxpayers. All taxpayers registered as Regular Taxpayers (including Casual Taxable person, SEZ Units/Developers), ISD and Composition taxpayers can do their Aadhaar Authentication or e-KYC on GST Portal. This is not applicable for Government Departments, Public Sector Undertakings, Local Authorities and Statutory Bodies.
  2. What is Aadhaar Authentication or e-KYC
  3. a)If Aadhaar is available, the Primary Authorized signatory and 1 person who is Proprietor/Partner/Director /Managing Partner/ Karta of the entity registered can go for the Aadhaar Authentication.
  4. b)In absence of Aadhaar, they can upload any of the following documents to undergo e-KYC:
  5. •Aadhaar Enrolment Number
  6. •Passport
  7. •EPIC (Voter ID Card)
  8. •KYC Form
  9. •Certificate issued by Competent Authority
  10. •Others
  11. How to do Aadhar Authentication/ e-KYC on Portal
  12. a)When an existing registered taxpayer would login, a pop-up with Question will be shown “Would you like to authenticate Aadhaar of the Partner/Promotor and Primary Authorized Signatory “ with the two options “Yes, navigate to My Profile” and “Remind me later”.
  13. b)If taxpayer clicks on “Remind me later” pop up will be closed and user can navigate anywhere on the GST portal.
  14. c)If taxpayer clicks on “Yes, Navigate to My Profile”, system will navigate to My Profile. In MY PROFILE, a new tab “Aadhaar Authentication status” has been shown from where link for Aadhaar Authentication to the Primary Authorized Signatory and one of promoters/partners as selected by him will be sent.
  15. Note: If same person is Primary Authorized Signatory and Partner/Promoter, Aadhaar authentication is only required to be done for that person.
  16. d)On the My profile page, in addition to SEND AADHAAR AUTHENTICATION LINK, UPLOAD E-KYC DOCUMENTS option would also be displayed to taxpayer from where they can upload the e-KYC documents on Portal. In this case, the process of e-KYC authentication would be subject to approval of uploaded e-KYC documents by Tax Official.

Leave a comment

Filed under tax laws

e-KYC Aadhar

SEBI circular dated 8th September, 2020 allowing National Stock Exchange (NSE) to carry out e-KYC Aadhar authentication of the UIDAI subject to such compliance as may be specified. Gist of SEBI circular follows:

SEBI vide circular No. SEBI/HO/MIRSD/DOP/CIR/P/2020/80 dated May 12,
2020 permitted eight entities to undertake Aadhaar Authentication service of UIDAI subject to compliance of the conditions as laid down in this regard.

  1. Government of India, Department of Revenue (DoR), vide Gazette
    Notification No. G.S.R. 516(E) dated August 20, 2020, notified “National
    Stock Exchange of India Limited” (NSE) as per the recommendation by
    Unique Identification Authority of India (UIDAI) and SEBI to undertake Aadhaar authentication service of the UIDAI under section 11A of the Prevention of Money-laundering Act, 2002. In view of the same, National Stock Exchange of India Limited shall undertake Aadhaar Authentication service of the UIDAI subject to compliance of the conditions as laid down in this regard.
  1. The Stock Exchanges and Depositories are directed to:
    a. bring the provisions of this circular to the notice of the Stock Brokers,
    Depository Participants and also disseminate the same on their websites.
    b. make necessary amendments to the relevant bye-laws, rules and
    regulations for the implementation of the above decision in co-ordination with one another to achieve uniformity in approach.
    c. communicate to SEBI, the status of the implementation of the provisions of this circular in the Monthly Development Report of the following month; and
    d. monitor the compliance of this circular.

https://www.sebi.gov.in/legal/circulars/sep-2020/entities-permitted-to-undertake-e-kyc-aadhaar-authentication-service-of-uidai-in-securities-market-addition-of-nse-to-the-list_47502.html

Leave a comment

Filed under securities laws

DoT further simplifies the process for linking of Aadhaar with mobile number

PIB press release dated 25th October, 2017

In a bid to expedite compliance of telecom service providers with the Hon. Supreme Court’s order dated 6th February regarding linking of Aadhaar card with mobile number and reverification process of mobile users, the Department of Telecommunications (DoT) issued a comprehensive instruction on Wednesday.

As per the new rules, the DoT has introduced three new methods to link the registered mobile number with Aadhaar i.e. OTP (One Time Password) based, App based and the IVRS facility. These new methods will help subscribers to get their mobile number linked to Aadhaar without visiting the stores of the telcos. For the ease of senior citizens and the people with disability and chronic illness, DoT has also recommended for the re-verification at subscribers’ doorstep. According to the new guidelines, the telecom operators should provide an online mechanism for people to request such service and based on availability schedule the visit and complete the process.

Speaking on the development, Shri Manoj Sinha, Minister of State (Independent Charge), Ministry of Communicationssaid “The Aadhaar number system was designed to allow all residents of the country access to critical government services and important information that they may need from time to time. Mobile penetration is increasing rapidly in the country and the subscribers need to be provided with the ease of linking of the Aadhaar number with the mobile number. It is the government’s endeavour to improve convenience and reduce time and energy spent by consumers to accessing government information and services that is their right to access.”

Representative of COAI stated, “The latest clarifications from the DoT are aligned with what the industry, and the subscribers need at this time. While, it will take a little time to implement the directions, we are working closely with the government to improve and enhance the convenience of our consumers for undertaking Aadhaar based e-KYC linking of their mobile number. We are implementing all the necessary processes so as to be able to use the additional methods prescribed including OTP, App based and the IVRS facility. We expect it to get much faster and easier for individual mobile subscribers to comply with the e-KYC norms using their Aadhaar Registered Mobile Number (ARMN).”

In a circular in August, DoT had given instructions to the telecom service providers to provide iris or fingerprint based authentication of Aadhaar. The new regulations have specified that the telecom service providers must deploy iris readers for this purpose within a reasonable geographical area.

Further, in keeping with privacy rules, the DoT has mandated that telecom service providers’ agent should not have access to the subscribers’ e-KYC data and only the name and address of the subscribers should be visible. Subscribers can verify or re-verify their mobile numbers from anywhere in the country irrespective of which service area their mobile connection belongs to.

Leave a comment

Filed under Uncategorized

e-KYC services of UIDAI for insurance companies

IRDA has mandated vide its circular dated 21st October 2013 that e-KYC services of UIDAI can be accepted as valid KYC documents by all the insurance companies. This has been made possible pursuant to the amendment to the Prevention of Money Laundering Act wherein UIDAI identity has been made acceptable for KYC purposes. Further with UIDAI going the e-way by adopting e-UIDAI it is but natural that a boost has been given to the KYC process of UIDAI. IRDA circular is given below

 

Ref:IRDA/SDD/CIR/AML/207/10/2013 Date:21-10-2013
e-KYC services of UIDAI
Attention is drawn to the following circulars issued by the Authority:
 
i.      IRDA/F&I/CIR/AML/151 /07/2011 dated July 5, 2011 wherein insurers were informed of the amendments to the Prevention of Money Laundering (Maintenance of Records) Amendment Rules 2010 by which “the letter issued by the Unique Identification Authority of India containing details of name, address and Aadhaar number” was considered as officially valid document that may be obtained as part of Customer Identification Procedure, for the purposes of identification. 
ii.    Master Circular 2010 on AML/CFT guidelines clause 3.1.1 (iv) wherein it has been indicated that “No further documentation is necessary for proof of residence where the document of identity submitted also gives the proof of residence.”
 
2.         You may be aware that the Unique Identification Authority of India (UIDAI) has  operationalized e-KYC services recently. The acceptability of these services for KYC purposes under the Prevention of Money-laundering (Maintenance of Records) Rules, 2005, was discussed with the Department of Revenue, Ministry of Finance and operational issues were taken up with the insurers.
 
3.         Now, following confirmation from the Ministry that e-KYC services may be accepted as a valid process for KYC verification under the Prevention of Money-Laundering (Maintenance of Records) Rules, 2005, it has been decided that e-KYC services of UIDAI is acceptable for KYC verification subject to specific and express consent of the customer to access his/her data through UIDAI system.
 
4.         It may further be noted that in cases where e-KYC services are availed for KYC verification, certification requirements under clause 3.1.1 (iv) of the Master Circular (2010) AML/CFT guidelines shall be deemed to be complied with.
 
5.         Insurers may take note of the above.
 
 
(R.K. Nair)
Member (F&I)

 

Leave a comment

Filed under Uncategorized