Saturday, October 24, 2020
Home Fact-Check Some facts you need to know about the newly introduced charges for Aadhaar based...

Some facts you need to know about the newly introduced charges for Aadhaar based e-KYC authentication

The charges are payable by organisations using e-KYC, not end consumers

On 8th March, several people started spreading a piece of news on social media saying that the government has introduced charges for using the Aadhaar based e-KYC service offered by Unique Identification Authority of India (UIDAI). It was being informed that each e-KYC inquiry will be charged at ₹20, and each Yes/No authentication will be charged at ₹0.50. Many people said that these charges will be payable everywhere since Aadhaar authentication will be required at every monetary transaction in the near future.

Although the news about the charges for e-KYC verification is correct, it omits some important points about the rule which creates baseless panic among people.

Many people are assuming that these amounts will be charged from end users when they are required to use Aadhaar based e-KYC authentication to avail any service. But the fact is, these are the charges that UIDAI will collect from institutions that use the e-KYC service, and does not necessarily mean that end-users will have to bear that cost. Institutions may absorb the cost themselves or they may pass on the cost to consumers, that will depend on the decision of institutions and also on market forces.

The most important point is, several organisations are exempt from paying the charge. According to the Gazette notification issued by the government of India, Government offices and post offices are exempted from Aadhaar Authentication transaction charges. Scheduled Commercial Banks are also exempt from the charge, if they are providing Aadhaar enrolment and update facilities. But such banks will have to fulfil their enrolment and update targets to avail this exemption.

Gazette notification on e-KYC verification charges

The private companies that use e-KYC facility of UIDAI will have to pay the specified charges for using the facility. When such companies use manual varication process instead of using the e-KYC, then also they spend a significant amount on verifying consumer details. They do not charge any amount from the consumer for such verification, so it is wrong to assume that companies will start charging the e-KYC verification amount from consumers.

Moreover, even if some companies decide to charge the amount from consumers, people have the option to not use e-KYC. The government has clarified that Aadhaar can be used as KYC on a voluntary basis under the Telegraph Act and PMLA rules. Anyone not offering Aadhaar cannot be denied any service, be it opening of a bank account or obtaining a mobile phone SIM card. People can opt for using conventional KYC instead of Aadhaar based e-KYC, and such people can’t be denied service for the same.

  Support Us  

Whether NDTV or 'The Wire', they never have to worry about funds. In name of saving democracy, they get money from various sources. We need your support to fight them. Please contribute whatever you can afford

OpIndia Staffhttps://www.opindia.com
Staff reporter at OpIndia

Related Articles

Trending now

‘Encounter specialist’ cop facing murder charges and reinstated by Param Bir Singh had joined Shiv Sena

Sachin Vaze, Pradeep Sharma, who were both 'encounter specialist' cops facing murder charges, were close to Mumbai CP Param Bir Singh

Radio Mirchi RJ finds space with radical preacher Zakir Naik as she waters down terms like ‘Kafir’ and ‘Jihad’

A video featuring Radio Mirchi RJ Sayema is doing rounds on the internet in which she was seen normalising anti-Hindu bigotry by legitimising the usage of radical Islamic terms as 'Kafir' and 'Jihad'.

Pune: Police tricks caretaker-turned-thief into arrest through romantic social media chats

Pune Police created a fake Facebook account posing as a "woman" and lured the thief into meeting him at a place where the police officials arrested him

PDP chief Mehbooba Mufti refuses to unfurl the Indian flag, BJP demands arrest for her seditious remarks

In her first press conference after being released from her 14-month detention, PDP chief Mehbooba Mufti denounced the Indian flag and pegged for the restoration of Article 370

After Twitter, Amazon’s Alexa now claims Jammu and Kashmir is part of China, netizens fume

As per reports, Alexa uses a machine-learning algorithm and more than a dozen 'question-answer techniques' to determine the best response to a user query.

‘Kale Baba’ aka Nasir caught sexually exploiting women in Lucknow, Times of India gives it a Hindu spin by calling the accused as ‘Tantrik’

The Times of India on Saturday attempted to give a Hindu spin to a crime perpetrated by an Islamic cleric, who is an accused in the sex racket, by referring to him as a 'Tantrik'.

Recently Popular

‘He supplies drugs and girls’: Estranged wife of Mahesh Bhatt’s nephew Luviena Lodh alleges harassment by nephew-uncle duo

Luviena Lodh said that Mahesh Bhatt is the don of the industry, and he controls everything that goes on in the film industry

Exclusive: Conversation that shows how Mumbai Police is trying to coerce witness into naming Republic TV in TRP scam

While Hansa Research report and the FIR filed named India Today in TRP scam, in less than 24 hours, Mumbai Police had seemingly made up its mind that Republic TV was the culprit

France: Charlie Hebdo cartoons projected on government building to express solidarity with deceased teacher who was beheaded by Islamic terrorist

Days after the barbaric beheading of teacher Samuel Paty on the streets of Paris by a terrorist for showing the cartoons of Prophet Mohammad to his students, support continues to pour in for the deceased teacher.

‘Jism ki garmi’: How Hindi film industry disregarded consent and normalised rape and molestation over the years

The Hindi film industry has, knowingly or unknowingly, convinced a generation of people that rape is normal when done in light of 'greater good'.

Lucknow: Jama Mazar caretaker ‘Kale Baba’ caught running sex racket, video goes viral

The caretaker has allegedly confessed to police that he was sexually exploiting women and engaging them in illicit activities in the name of curing infertility and other ailments.

Complaints filed against Eros Now and Arré for vulgar social media posts related to Navratri

Both Eros Now and Arre had published social media posts linking Navratri festival with sex and vulgarity
- Advertisement -

Farooq Abdullah, Mehbooba Mufti, Sajjad Lone come together to form ‘Gupkar Alliance’, vow to restore articles 370, 35A and statehood in Jammu & Kashmir

The in the Gupkar alliance seeks restoration of Articles 370 and 35A and also the statehood for Jammu and Kashmir

PM Narendra Modi inaugurates three key projects in Gujarat, calls it a symbol of strength, devotion and health

PM Narendra Modi virtually inaugurated three development projects related to agriculture, tourism and health in Gujarat today

Times of India hides identity of Dilbar Qureshi who posed as a Hindu man and kidnapped a minor Hindu girl in Delhi Love Jihad...

The Times of India report merely says that a 13-year old girl was kidnapped by a 25-year old man, hiding his identity completely

Alt News selectively cites coronavirus statistics to criticise PM Modi alleging he used selective data

Alt News published an article alleging that PM Modi selectively cited coronavirus numbers to give a rosy picture of country’s fight against the pandemic

Arvind Kejriwal remains non-committal on making coronavirus vaccine free in Delhi

The reluctance of Arvind Kejriwal to clearly state the policy of his government on coronavirus vaccine in Delhi is puzzling.

Mumbai: Body of missing Coronavirus patient recovered after 14 days from the hospital bathroom

The TB+Coronavirus patient had gone missing om October 4, but his body was recovered 14 days later on 18th inside a toilet in the hospital

Wife of UP police DIG who is member of the SIT formed in relation to Hathras case dies by suicide

Pushpa Prakash reportedly killed herself by hanging. The reason of suicide is not yet known.

Finance ministry issues guidelines for interest waiver scheme during the lockdown period- Read details

The govt will pay the difference between simple and compound interest from March to August under compound interest waiver scheme

‘Encounter specialist’ cop facing murder charges and reinstated by Param Bir Singh had joined Shiv Sena

Sachin Vaze, Pradeep Sharma, who were both 'encounter specialist' cops facing murder charges, were close to Mumbai CP Param Bir Singh

US Presidential elections: YouTube overwhelmed with political ads, sees a shortage of advertising space

YouTube has received so many ads for the US presidential elections in the same states that it can't find enough space to place them

Connect with us

245,563FansLike
467,761FollowersFollow
19,100SubscribersSubscribe