New Delhi: Aadhaar holders have made around 2.31 billion authentication transactions in the month of March 2023, indicating increasing usage of Aadhaar and growth of digital economy in the country, the Ministry of Electronics and IT (MeitY) said on Wednesday (April 26). , The number in March surpassed February’s 2.26 billion certifications.
“The March numbers are better than February when 2.26 billion authentication transactions were done. While most authentication transaction numbers were done using biometric fingerprint, it is followed by demographic and OTP authentication,” it said.
16% increase in Aadhaar enabled e-KYC
Aadhaar e-KYC service is playing a vital role for banking and non-banking financial services by providing transparent and better customer experience and helping in ease of doing business. Over 311.8 million eKYC transactions were done during March 2023, which is a jump of over 16.3 per cent over February.
The adoption of e-KYC has also significantly reduced the customer acquisition cost for entities like financial institutions, telecom service providers and others. The cumulative number of Aadhaar e-KYC transactions so far till the end of March 2023 has crossed 14.7 billion. One hundred and seventy five institutions are active on e-KYC.
Aadhaar saturation among the adult population remains universal, the ministry said, adding that during the month of March, more than 21.47 million Aadhaar updates were made following requests from residents as against 16.8 million such updates in February 2023.
“Whether it is Aadhaar-enabled DBT for direct fund transfer, Aadhaar Enabled Payment System (AEPS) for last-mile banking, e-KYC for authentication, or identity verification, Aadhaar, the digital infrastructure of good governance, plays a vital role Used to be. To support Prime Minister Narendra Modi’s vision of Digital India and enable ease of living for residents,” it said. AePS is enabling financial inclusion for those who are at the bottom of the income pyramid.
In March 2023, 219.3 million last-mile banking transactions are possible through the network of AEPS and Micro ATMs.
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