Aadhaar Authentication is a process by which Aadhaar number along with Aadhaar holder’s personal information (biometric/demographic) is submitted to UIDAI and UIDAI responds only with a “Yes/No”. The purpose of authentication is to enable Residents to provide their identity and for the service providers to supply services and give access to the benefits. CVL, which is registered as an Authentication User Agency (AUA) & KYC User Agency (KUA) with UIDAI provides e-KYC services of UIDAI to entities whereby the KYC details of a Resident like Name, Address, Date of Birth, Gender, Photograph, Mobile No., e-mail ID (if available) are provided by UIDAI in a secured manner to the end user.
Some of the benefits of Aadhaar authentication and e-KYC:
As per Aadhaar regulation, intermediaries registered with SEBI & Mutual Fund distributors can be registered with AUA-KUAs as the Sub-KUA.
Intermediaries/Mutual Fund Distributors willing to avail the Sub-KUA services from CVL can give their consent to CVL for further processing.