May 19, 2024 11:29 (IST)
Follow us:
facebook-white sharing button
twitter-white sharing button
instagram-white sharing button
youtube-white sharing button
Arvind Kejriwal to march with AAP leaders to BJP HQs tomorrow with an 'arrest' dare | Adhir Chowdhury won't decide, he will be axed if he doesn't...': Congress chief Mallikarjun Kharge on alliance with Mamata Banerjee | Swati Maliwal assault case: Arvind Kejriwal's aide Bibhav Kumar arrested by Delhi Police | DK Shivakumar offered me Rs. 100 crore to defame Modi: Arrested BJP leader G Devaraje Gowda on Karnataka sex scandal | Swati Maliwal assault case: New video shows AAP MP escorted out of Arvind Kejriwal's home
Aadhaar e-KYC transactions jump 18.53% to 84.8 cr in Q3 of FY 2022-23 Aadhaar e-KYC
Image Credit: wikipedia.org

Aadhaar e-KYC transactions jump 18.53% to 84.8 cr in Q3 of FY 2022-23

India Blooms News Service | @indiablooms | 28 Jan 2023, 12:02 am

New Delhi/IBNS: Over 84.8 crore e-KYC transactions were executed using Aadhaar in the October-December quarter (Q3) of FY 2022-23, a growth of 18.53% over the Q2 (July-Sept) of the current financial year.

In December alone 32.49 crore e-KYC transactions were carried out using Aadhaar, over 13% more than the previous month.

Aadhaar e-KYC service is increasingly playing an important role in banking and non-banking financial services by providing transparent and improved customer experience, and helping in ease of doing business, the Ministry of Electronics & IT said.

In October, the number of Aadhaar e-KYC transactions was 23.56 crore and in November such transactions went up to 28.75 crores, before jumping further in December, indicating its growing usage and utility in the economy.

As many as 169 entities including 105 banks are live on e-KYC.

Adoption of e-KYC has also significantly reduced customer acquisition cost of entities like financial institutions, telecom service providers and others, the ministry said.

By the end of December 2022, the cumulative number of Aadhaar e-KYC transactions so far has gone up to 1382.73 crore.

An e-KYC transaction is executed, only after the explicit consent of the Aadhaar holder, and does away with physical paperwork, and in-person verification requirements for KYC.

Similarly, Aadhaar authentication transactions too are witnessing a growing adoption and usage among residents.

In the month of December alone, 208.47 crore Aadhaar authentication transactions were carried out, nearly 6.7% more than the previous month.

Most of these monthly authentications were carried out by using biometric fingerprints, followed by demographic and OTP authentications.

So far, cumulatively nearly 8829.66 crore Aadhaar authentication transactions have been executed by the end of December 2022.

Support Our Journalism

We cannot do without you.. your contribution supports unbiased journalism

IBNS is not driven by any ism- not wokeism, not racism, not skewed secularism, not hyper right-wing or left liberal ideals, nor by any hardline religious beliefs or hyper nationalism. We want to serve you good old objective news, as they are. We do not judge or preach. We let people decide for themselves. We only try to present factual and well-sourced news.

Support objective journalism for a small contribution.