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UIDAI approves CDSL Ventures Limited as local Authentication User Agency Aadhaar e-KYC
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UIDAI approves CDSL Ventures Limited as local Authentication User Agency

India Blooms News Service | @indiablooms | 02 Mar 2021, 10:11 am

Mumbai/IBNS: CDSL Ventures Limited, the wholly owned subsidiary of CDSL, has received the approval to begin its operations as a local Authentication User Agency (AUA)/e-KYC User Agency (KUA) with UIDAI.

The company said in a recent release that the approval allows CVL to enable digital services as the AUA/KUA and further facilitate intermediaries to offer seamless online account opening using online Aadhaar based eKYC and eSign.

Currently, CVL is also registered as a Certifying Authority with Controller of Certifying Authorities (CCA) for providing Aadhaar based eSign Services to capital market intermediaries.

The Aadhaar based eKYC service coupled with the Aadhaar based eSign service facilitates online account opening and is expected to reduce the turnaround time for online KYC and account opening.

CVL said it will also be shortly launching an On-Line Account Opening (OLAO) software for facilitating intermediaries to perform online KYC and open demat and broking accounts of their clients.

CVL’s OLAO is expected to offer seamless online account opening using online Aadhaar based eKYC and eSign and intermediaries register and go live as Sub-KUAs.

Sunil Alvares, MD & CEO CVL said, “Aadhaar e-KYC along with Aadhaar based e-sign and CVL’s online account opening software will facilitate intermediaries in opening online demat and broking accounts after performing the online KYC formalities.”

Nehal Vora, MD & CEO, CDSL, said, “We continue to emphasise on empowering the capital market participants, especially the investor, through the safe digital services offered by CDSL and CVL along with our other group companies.”