Aadhaar Card to be accepted as KYC proof: PFRDA
India Infoline News Service / 14:53 , Nov 06, 2013
Aadhar Card/letter submitted by the subscribers in physical form would continue to be accepted as a valid KYC document.

The PFRDA (Pension Fund Regulatory and Development Authority) has notified that the letter issued by Unique Identification Authority of India (UIDAI) will be accepted as a valid proof for Identity and address.

It has now been decided to accept e-KYC service launched by UIDAI as a valid process for KYC verification in consultation with UIDAI. The information authenticated and transferred by UIDAI containing demographic details and photograph as a result of e-KYC process shall be treated as sufficient proof of Identity and Address of the client, PFRDA said in a circular on 24th October.

While using e-KYC service of UIDAI, the user has to authorise the UIDAI, to release her or his identity/address through biometric authentication to the POP/Aggregators. The UIDAI then transfers date of the individual comprising name, age, gender and photograph of the individual, electronically to POP/Aggregators, which may be accepted as a valid process for KYC verification.

However, the POP/Aggregator has to take a printout of the authentication data received from UIDAI and attach the same along with the subscriber registration form, PFRDA added.

Aadhar Card/letter issued by UIDAI containing details of name, address and Aadhar number submitted by the subscribers in physical form as proof of identity and address would continue to be accepted as a valid KYC document.