The month of April 2023 saw Aadhaar holders executing a record 1.96 billion authentication transactions. The numbers show a jump of more than 19.3 per cent that was recorded last year in the same month. The numbers are a clear indication that India is seeing significant growth in digital economy and usage of Aadhar across the country.
The reach and adoption of Aadhaar is slowly spreading considering the saturation level among all age groups have now climbed to 94.8 per cent. April saw more than 15.44 million of Aadhaar cards updated on request from people.
A majority of these authentication transaction numbers were carried out by using fingerprint. It is followed by demographic and OTP based authentications. Face authentication is also seeing ample usage across sectors for easy service delivery.
In April 2023, official data suggests that over 200.6 million last mile banking transactions were made possible through AePS and network of micro ATMs. For those unaware, AePS is the Aadhaar Enabled Payment System which provides financial inclusion for those who are at the bottom of the income pyramid.
The total number of Aadhaar e-KYC transactions by the end April 2023 had gone past 14.95 billion. As people are continuously adopting e-KYC, it is significantly reducing customer acquisition cost of entities like financial institutions, telecom service providers among others.
Aadhaar is definitely proving to be more useful and supportive of the common man. Be it e-KYC for identity verification, AePS for last mile banking, or Aadhaar enabled DBT for direct fund transfer, it has become the foundation of India’s digital public infrastructure and a tool of good governance.