UIDAI slashes Aadhaar authentication cost to Rs 3: CEO Saurabh Garg

Aadhaar custodian UIDAI has slashed the value for authentication by prospects to Rs 3 from Rs 20 per occasion to allow entities leverage its infrastructure for offering ease of residing to folks by numerous companies and advantages. Whereas talking at Global Fintech Fest organised by NPCI-IAMAI, Unique Identity Authority of India CEO Saurabh Garg stated that the potential of leveraging Aadhaar within the monetary know-how sector is immense.

“We’ve slashed the speed from Rs 20 per authentication to Rs 3 and the target has been to make sure that totally different companies, entities ought to have the ability to use the ability of digital infrastructure which has been created by the state that must be used to supply folks with ease of residing with dignity,” Garg stated.

Until date, greater than 99 crore eKYC have been carried out utilizing Aadhaar system.

“I believe it provides a price efficient and non-repudiable resolution to corporations to onboard new prospects. That’s the place the ability lies and KYC of the Aadhar supplies lifetime and reusable identification which is the ability of the Aadhaar system,” Garg stated.

He stated that UIDAI doesn’t share biometrics with anybody and expects all its companions to take care of the identical degree of safety and privateness because the authority does.