Now, Aadhaar charges for eKYC and authentication services for entities; Full details here

By: |
New Delhi | Updated: March 09, 2019 7:17 PM

Private entities will now have to pay Rs 0.50 (tax included) for each Yes or No authentication transaction and Rs 20 (Inclusive of Taxes ) for e-KYC authentication.

uidai, uidai services, aadhar services, aadhar authentication not free, uidai will charge, aadhar chargable, aadhar services,Private entities will now have to pay Rs 0.50 (tax included) for each Yes or No authentication transaction and Rs 20 (Inclusive of Taxes ) for e-KYC authentication.

The Unique Identification Authority of India (UIDAI) has recently issued a notification stating new pricing of Aadhaar Authentication Services under Aadhar Regulations 2019. Under the new regulations, the e-KYC and authentication services have been made paid services by the Authority.

Private entities will now have to pay Rs 0.50 (tax included) for each Yes or No authentication transaction and Rs 20 (Inclusive of Taxes ) for e-KYC authentication.

The notification released on Friday said, “Aadhaar authentication services shall be charged at the rate of Rs. 20 (including taxes) for each e-KYC transaction and Rs. 0.50 (including taxes) for each Yes and No authentication transaction from requesting entities.”

The new regulation exempts government entities and departments of the post are exempted from the charges. According to the new regulation “Scheduled Commercial Banks engaged in providing Aadhaar enrolment and update facilities in accordance with Gazette Notification no. 13012/79/2017/Legal-UIDAI (No 4 of 2017) dated 14 July 2017 shall be exempt from Authentication transaction charges.”

However, the notification added that such banks which “fall short of the Aadhaar enrolment and update targets, as communicated from time to time, will be charged in proportion to the shortfall in achieving the target.”

The authentication transaction charges are to be deposited within 15 days and beyond 15 days there will be a late payment charge of 1.5% interest per month and discontinuation of the availed e-KYC services and authentication. On September 26, last year, the Supreme Court’s Constitution Bench in its judgment had upheld the constitutional validity of the Aadhaar Act by 4:1 majority. But also imposed certain restrictions and changes.

The SC prohibited compulsory use of Aadhaar based KYC for bank accounts and mobile connections. This year on March 2, the President promulgated Aadhaar and other laws(Amendment) Ordinance 2019 to make amendments to the Aadhaar Act 2016, Prevention of Money Laundering Act 2005 & Indian Telegraph Act 1885. This enabled private banks and telecoms to use Aadhaar data for authentication of identity.

Get live Stock Prices from BSE, NSE, US Market and latest NAV, portfolio of Mutual Funds, Check out latest IPO News, Best Performing IPOs, calculate your tax by Income Tax Calculator, know market’s Top Gainers, Top Losers & Best Equity Funds. Like us on Facebook and follow us on Twitter.

Financial Express is now on Telegram. Click here to join our channel and stay updated with the latest Biz news and updates.

Next Stories
1UIDAI plans to open 166 standalone Aadhaar enrolment and update centres