Digital India: Over 25 Crore e-KYC Transactions Executed Via Aadhaar In September Alone

Indicating an increasing adoption and usage of Aadhaar, 25.25 crore e-KYC transactions were executed via Aadhaar in September alone with 7.7 per cent growth in such transactions 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.

The cumulative number of e-KYC transactions via Aadhaar so far has increased to 1,297.93 crore by the end of September 2022.

“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,” Ministry of Electronics and IT said.

“Similarly, Aadhaar Enabled Payment System (AEPS) has been an enabler of financial inclusion at the bottom of the income pyramid,” it added.

Cumulatively so far by the end of Sept 2022, 1,549.84 crore of last mile banking transactions have been made possible through the use of AEPS and the network of micro ATMs.

In September alone, 21 crore AEPS transactions were carried out across India.

“Aadhaar, a digital infrastructure of good governance, is a facilitator of 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,” the ministry said.

So far, around 1,000 welfare schemes in the country run by both centre and states have been notified to use Aadhaar.