UIDAI slashes Aadhaar authentication charge to Rs 3: CEO

#Aadhaar authentication, #Saurabh Garg, #UIDAI

Representative image

Aadhaar custodian UIDAI has slashed the price for authentication by customers to Rs 3 from Rs 20 per instance to enable entities leverage its infrastructure for providing ease of living to people through various services and benefits.

While speaking at Global Fintech Fest organised by NPCI-IAMAI, Unique Identity Authority of India CEO Saurabh Garg said that the potential of leveraging Aadhaar in the financial technology sector is immense.

ALSO READ: CBIC makes Aadhaar authentication of taxpayers mandatory for claiming GST refund

“We have slashed the rate from Rs 20 per authentication to Rs 3 and the objective has been to ensure that different agencies, entities should be able to use the power of digital infrastructure which has been created by the state that needs to be used to provide people with ease of living with dignity,” Garg said. Till date, more than 99 crore eKYC have been done using Aadhaar system.

“I think it gives a cost effective and non-repudiable solution to fintech companies to onboard new customers. That is where the power lies and KYC of the Aadhar provides lifetime and reusable identity which is the power of the Aadhaar system,” Garg said. He said that UIDAI does not share biometrics with anyone and expects all its partners to maintain the same level of security and privacy as the authority does.

Internet Explorer Channel Network
News Related

OTHER NEWS

Entire world looking up to India in view of its vaccination drive success: PM Modi

The entire world is looking up to India in the backdrop of the success of its COVID-19 vaccination drive, Prime Minister Narendra Modi said on Saturday as he lauded vaccine ... Read more »

US budget deficit hits USD 2.77 trillion in 2021, 2nd highest

The U.S. budget deficit totaled USD2.77 trillion for 2021, the second-highest on record but an improvement from the all-time high of USD3.13 trillion reached in 2020. The deficits in both ... Read more »

Tea Association of India asks govt to look into paucity of coal in tea estate

Tea Association of India (TAI) has requested union ministry of Commerce & Industry to look into the paucity of coal in tea estate. The organization in a representation to the ... Read more »

Realme elevates Madhav Sheth as president of international business unit

Smartphone maker Realme on Friday announced the elevation of Madhav Sheth as president of the international business unit. He will continue to head the company’s operations in the country as ... Read more »

Lakhimpur Kheri: Three more arrested in Kheri case

UP police arrested three more in the Lakhimpur Kheri case in which eight people including four protesting farmers were killed in the district’s Tikonia area. With the three arrests on ... Read more »

P2P lending machine firing on all cylinders amid slackened bank loan disbursals

It has never been better for peer-to-peer (P2P) lending platforms, which are seeing a considerable increase in the number of people wanting to lend or borrow money. While slackened loan ... Read more »

Bank of India opens first-ever branch in Ladakh

Bank of India on Friday extended its operations to the Union Territory of Ladakh by opening its first-ever branch here with its top official asserting that the bank is fully ... Read more »

Amit Shah reaches out to youths in Kashmir, reiterates 'roadmap ' for polls and statehood restoration

Union Home Minister Amit Shah on Saturday sought the support of the youth of Kashmir in realising Prime Minister Narendra Modi’s ”vision of a peaceful and developed” J-K, while reiterating ... Read more »

Tamil Nadu allows 100 per cent occupancy in theatres; Classes for 1-8 on rotational basis from November 1

Easing curbs, Tamil Nadu on Saturday allowed 100 per cent occupancy in film theatres, schools for Class one to eight on ‘rotational’ basis from November 1, operation of bars, lifting ... Read more »

Regional airline SkyWest cancels hundreds of flights

SkyWest Airlines, which operates many flights for the nation’s biggest airlines, canceled about 1,000 flights Thursday and Friday because of what it called an internal technical issue. The airline said ... Read more »

Meet the UAE's royal troubleshooter — and maybe next big boss

If you’re interested in the geopolitics of the Middle East, chances are you know Sheikh Tahnoon bin Zayed Al Nahyan as the national security advisor of the United Arab Emirates. ... Read more »

Chip shortage could hit supplies of critical medtech devices

Supplies of critical life-saving medical devices could soon take a hit due to the continuing global shortage of semiconductor chips, medtech manufacturers have warned. A TOI report said the shortage ... Read more »

Wall Street Week Ahead: Tech giants' earnings may be another test for markets at new highs

NEW YORK: Investors are homing in on a flood of earnings reports from Wall Street‘s tech and Internet giants, as the high-growth stocks that have led markets higher for years ... Read more »

Mercedes Benz generates $100 million order in October under the new retail model

Mercedes Benz has rolled out a new retail business model that the country’s largest luxury carmaker said will offer its customers benefits of Rs 1-2 lakh on the selling price. ... Read more »

Women in burqa, Men in salwar kameez, and artistes in hiding in 2 months of Taliban 'rule'

Mansoor Haidry, a doctor from Kabul, has been living in India for six years and runs a general store in Bhogal in the national capital. Most members of his joint ... Read more »

COVID-19: Centre asks states to ensure upcoming festivals celebrated with 'utmost precautions'

The Centre has asked states and union territories to ensure that upcoming festivals are celebrated in a safe and cautious manner with “utmost precautions” in view of the COVID-19 pandemic. ... Read more »

Stock investors remain unfazed by supply-chain snarls

This was the week when supply-chain angst finally landed on media stocks while inflation sirens blared in commodities even as the pace of economic growth showed signs of cooling. But ... Read more »

Dalal Street Week Ahead: PSUs, banks, auto and select financials may put up a resilient show

After testing a fresh lifetime high at 18604, the Indian equity markets slipped into some corrective consolidation within a broad range. The bulk of the previous week was spent in ... Read more »

Dhaka ties deeper than any other strategic partnership: Harsh V Shringla

Foreign secretary Harsh V Shringla said on Saturday that India remains a committed partner in Bangladesh’s socio-economic growth and development, and described the bilateral ties as “deeper than any other ... Read more »

India-Pakistan T20 world cup match against national interest: Ramdev

Yoga guru Ramdev on Saturday said the India-Pakistan T20 World Cup match scheduled for Sunday is against the national interest and “Rashtradharma” as the “game of cricket and the game ... Read more »

Power ministry comes out with rules to ensure sustainability of sector

The Ministry of Power on Saturday announced new rules to sustain economic viability of the sector, ease financial stress of various stakeholders and ensure timely recovery of costs involved in ... Read more »

TTD releases special entry darshan tickets for Tirumala temple

The Tirumala Tirupati Devasthanams (TTD) has released the online quota of its Rs 300 special entry darshan tickets for the Tirumala temple on its official website. The tickets for special ... Read more »

Chhattisgarh: 26 ITBP jawans fall ill after consuming food at camp in Rajnandgaon

In a suspected case of food poisoning, 26 personnel of the Indo Tibetan Border Police (ITBP) fell ill with after consuming meal at their camp in Chhattisgarh‘s Rajnandgaon district, officials ... Read more »

IEX shares jump 5% on robust Q2 results

NEW DELHI: Shares of Indian Energy Exchange ( IEX ) jumped 5.5 per cent on Friday as the power bourse reported an almost 75 per cent on-year rise in consolidated ... Read more »

TVS Motor jumps close to 10% on strong Q2 earnings

NEW DELHI: Shares of TVS Motor Company climbed to a high of 9.7 per per cent on Friday as the two-wheeler firm reported a 29.19 per cent on-year rise in ... Read more »

Explained: How China Evergrande's debt troubles pose a systemic risk

China Evergrande Group has supplied funds to pay interest on a dollar bond, a person with direct knowledge of the matter told Reuters on Friday, days before a deadline that ... Read more »

South Indian Bank tanks 12% after poor numbers in Q2

New Delhi: Shares of South Indian Bank were on a free fall on Friday, declining as much as 12 per cent after a disappointing set of numbers in September 2021 ... Read more »

US seizes made-in-China toys popular in India for having dangerous chemicals

A consignment of made-in-China toys, which are highly popular among children in India, has been seized in the US after they were found to be coated with dangerous chemicals, according ... Read more »

All regional languages kept in minor subjects category for 1st term exams for Class 10, 12: CBSE

Representative image The Central Board of Secondary Education (CBSE) on Friday clarified that all regional languages have been kept in the category of minor subjects for first term exams for ... Read more »

Vijay Kedia re-enters these microcaps in September quarter

New Delhi: Dalal Street veteran Vijay Kedia re-entered a couple of microcaps in the September 2021 quarter, latest shareholding data showed. According to data from Trendlyne, Kedia made a fresh ... Read more »

Security beefed up in J&K ahead of Home Minister Amit Shah's three-day visit

Union home minister Amit Shah will reach Srinagar on a three-day visit to Jammu and Kashmir on October 23 amid heightened security following a spate of targeted civilian killings in ... Read more »

PM Modi changes his Twitter profile picture to celebrate 100 crore plus vaccines

After addressing the nation on the vaccination drive crossing 100 crore vaccines being administered, the Prime Minister’s twitter display image has also changed to celebrate the same. Speaking of it ... Read more »

JSW Steel gains 1% after 350% jump in Q2 profit

NEW DELHI: Shares of JSW Steel rose 1.2 per cent in early Mumbai trading on Friday as the company reported an over four-fold jump in consolidated year-on-year net profit to ... Read more »

Renault says chip shortage will lower production more than forecast

French carmaker Renault said on Friday its production losses in 2021 because of a global semiconductor chip shortage would be far larger than previously forecast, but maintained its profit outlook ... Read more »

How to usher payment revolution for millions without a smartphone

The heart of India doesn’t beat to the tunes of a glitzy edgy smartphone. Away from the world of an instant dopamine hit, Instagram hashtags and Snapchat filters, the true ... Read more »

PM Modi urges people to not lower COVID guard in festive season

Prime Minister Narendra Modi (Illustration: Moneycontrol) Prime Minister Narendra Modi on October 22 urged people to follow the COVID-appropriate behaviour during the festive season and not lower their guard. Modi ... Read more »

NCB detains 'peddler' for questioning in cruise drugs case

The Narcotics Control Bureau (NCB) has detained a 24-year-old drug peddler in Mumbai in connection with the cruise liner drug bust. As per NCB’s statement, the drug peddler’s name has ... Read more »

TTD online booking: How to book Tirumala Tirupati Devasthanams free darshan

Tirupati Temple (Image: Wikimedia) The Tirumala Tirupati Devasthanams (TTD) independent trust, which manages the Tirumala Venkateswara Temple in Andhra Pradesh, has said it will begin selling tickets for special darshan ... Read more »

Science born, science-based and science driven: PM Modi addresses the nation on crossing 100 crore vaccine landmark

Prime Minister Modi addressed the nation on completion of administering 100 crore plus vaccines, today. “100 crore Covid vaccine dose landmark is not merely statistics, it’s a new chapter in ... Read more »
On free-english-test.com you will find lots of free English exam practice materials to help you improve your English skills: grammar, listening, reading, writing, ielts, toeic