NATIONAL

UIDAI to levy fees for verification

Agencies should deposit the e-KYC charges in 15 days.

Agencies should deposit the e-KYC charges in 15 days.  

Banks exempted from charges

Business organisations will now need to shell out Rs. 20 for each customer verification and 50 paise for authentication of each transaction done using Aadhaar, according to a notification by the Unique Identification Authority of India (UIDAI).

“Aadhaar authentication services shall be charged at the rate of Rs. 20 (including taxes) for each e-KYC transaction and Rs. 0.50 (including taxes) for each Yes/No authentication transaction from requesting entities,” the notification dated March 6, said.

However, government entities and the Department of Posts will be exempt from authentication transaction charges. According to the notification, the entities shall be required to deposit the authentication transaction charges within 15 days of issuance of the concerned invoice based on the usage. “The delay in payment beyond 15 days shall attract interest compounded at 1.5% per month and discontinuation of authentication and e-KYC services.”

An official source said business organisations were incurring a cost of Rs. 150-200 per KYC without Aadhaar. Hence, they will still be saving KYC costs.

“If an existing requesting entity (except those exempt…), continues to use Aadhaar authentication services beyond the date of publication of these Regulations, it shall be deemed to have agreed to the specified authentication charges,” as per the notification.

It added that the scheduled commercial banks engaged in providing Aadhaar enrolment and update facilities in accordance with its gazette notification issued in July 2017 shall be exempt from authentication transaction charges.

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