Aadhaar, Jan Dhan giving big push to digital India ecosystem: Instamojo’s CEO
According to Swain, three different buckets of opportunities got created over the last three-four years.
The government today claimed that the usage of Aadhaar by citizens is witnessing a sizable growth.
In August, some 219.71 crore authentication transactions were carried out via Aadhaar, a growth of more than 44 per cent against July 2022, the Finance Ministry said.
A majority of these monthly transaction numbers were done by using fingerprint biometric authentication (128.56 crores), followed by demographic authentications and OTP authentications.
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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. The 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 updation 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 Prime Minister Narendra Modi’s vision of a Digital India.
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