Tuesday, November 29, 2022

Aadhaar usage records growth

Aadhaar adoption and usage continued to record growth as during the month of September, 25.25 crore e-KYC transactions were executed through Aadhaar — almost 7.7 per cent jump in such transactions when compared with August.
An e-KYC transaction is done, only with the explicit consent of the Aadhaar holder, and eliminates physical paperwork, and in-person verification requirement for KYC.
As per the Ministry of IT, Aadhaar e-KYC service is increasingly playing a crucial role for banking and non-banking financial services by providing better and transparent customer experience, and ease of doing business. The cumulative number of e-KYC transactions via Aadhaar so far has increased to 1,297.93 crore by the end of September 2022.
Similarly, Aadhaar Enabled Payment System (AEPS) has been an enabler of financial inclusion at the bottom of the income pyramid. Cumulatively, 1,549.84 crores of last mile banking transactions have been made possible through the use of AEPS and the network of micro ATMs so far by the end of September 2022.
In September alone, 21.03 crore AEPS transactions were carried out across India.
In September, 175.41 crore authentication transactions were carried out via Aadhaar.
A majority of these monthly transactions were done by using fingerprint biometric authentication, followed by demographic and OTP authentication.
So far, cumulatively 8,250.36 crore authentication transactions have been completed by the end of September 2022, indicative of how Aadhaar is sincere with its stated vision.
Aadhaar saturation is now near universal among the adult population of India. Among all age groups, Aadhaar saturation was 93.92 per cent by the end of September.
During the month of September, residents successfully updated more than 1.62 crore Aadhaars as against 1.46 crore such updates carried out in August.
Cumulatively, till date (end of September) little above 66.63 crore Aadhaar numbers have been successfully updated following requests from the residents.
These updation requests are related to demographic as well as biometric updates done at both physical Aadhaar centres, and by using the online Aadhaar platform.

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