Aadhaar e-KYC transactions up 18.53% in Q3

New Delhi, January 27

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The government today said Aadhaar-based financial transactions through the electronic know your customer (e-KYC) route continued to witness an upsurge with 32.49 crore transactions being recorded in December alone.

In the October-December quarter of the current fiscal, more than 84.8 crore transactions were executed using Aadhaar, a growth of 18.53 per cent over the second quarter (July-September).

Aadhaar e-KYC service is used for banking and non-banking financial services. As many as 169 entities, including 105 banks, have been using e-KYC. Such transactions do away with physical paperwork and in-person verification requirement for KYC.

More than 1,100 government schemes and programmes run by both Centre and states have been notified to use Aadhaar. The digital ID is helping various ministries and departments at the Centre and in states in improving efficiency and transparency.