23.45 crore e-KYC transactions executed via Aadhaar in August
New Delhi: Aadhaar usage and adoption by residents are witnessing sizable growth indicative of how it is increasingly supporting ease of living for residents. In August, 219.71 crore authentication transactions were carried out via Aadhaar, a growth of more than 44% against July 2022.
A majority of these monthly transaction numbers were done by using fingerprint biometric authentication (128.56 crores), followed by demographic authentications and OTP authentications.
As of the end of August 2022, a cumulative number of 8074.95 crore Aadhaar authentications have been carried out so far, as against 7855.24 crore such authentications by the end of July.
The number of e-KYC transactions executed via Aadhaar was 23.45 crore in August. The cumulative number of e-KYC transactions so far increased from 1249.23 crores in July to 1272.68 crores by end of August.
An e-KYC transaction is done, only with the explicit consent of the Aadhaar holder, and eliminates physical paperwork, and in-person verification requirements for KYC. Aadhaar e-KYC service is increasingly playing an important role for banking and non-banking financial services in providing better and transparent customer experience and ease of doing business.
In August, residents successfully updated 1.46 crore Aadhaars, and cumulatively to date (end of August) 65.01 crore Aadhaar numbers have been successfully updated following requests from the residents.
These update requests are related to demographic as well as biometric updates done at both physical Aadhaar centres, and by using the online Aadhaar platform.
Whether it is e-KYC, Aadhaar enabled payment system (AEPS) for last mile banking or Aadhaar enabled DBT, Aadhaar has been playing a stellar role in supporting the Prime Minister, Shri Narendra Modi’s vision of Digital India.
Aadhaar, a digital infrastructure of good governance, is a catalyst for both ease of living and ease of doing business. The digital ID is helping various ministries and departments in the centre and at states in improving efficiency, transparency and delivery of welfare services to the targeted beneficiaries. Around 1000 social welfare schemes in the country run by both centre and states have been notified to use Aadhaar till date.
Besides, more than 1,528.81 crores of last mile banking transactions have been made possible through the use of Aadhaar Enabled Payment System (AEPS), and the network of micro-ATMs so far, including nearly 22 crore such transactions in August alone. It has enabled financial inclusion at the bottom of the pyramid.