Do you want to know about Aadhar e KYC and how to do it? UIDAI has launched Aadhar paperless e KYC verification to allow Aadhaar number holders to voluntarily utilize it to confirm their identification in multiple applications in a paperless and electronic manner while protecting privacy, security.
You often have to provide your basic personal information when you apply for a new mobile phone, bank account, or LPG connection. The service provider must confirm this before processing your application. However, if you have an Aadhaar Card that has undergone KYC verification, the application procedure is made simpler and quicker. There is no need to submit any further documents for verification when an Aadhaar Card is provided as an Identity Proof.
Aadhar e KYC
The Aadhaar Card is a validated by itself. Every time, at many centers, offices, an Aadhaar Card requires to submit. E KYC Aadhaar will make the above procedure simpler. Here, you can submit your KYC information digitally , and the service provider will cross check it to your Aadhaar information using UIDAI. This speeds up and simplifies the entire procedure. Due to the availability of confirmed data, the digitization of these processes has made life simpler, quicker, and more authentic. In this article we will discuss the benefits, eKYC process, data covered in eKYC and FAQS related to the e aadhar kyc.
Benefits of E Aadhar KYC
The simplicity and speed of Aadhaar Card-based KYC have led to its widespread acceptance. The following are some advantages of Aadhaar eKYC:
- According to the government regulations, Aadhar e kyc. is quite reliable.
- The eKYC process is paperless. This makes the entire process more eco-friendly and quicker.
- Due to the digitalisation of data, the possibility of document forgery is quite low.
- eKYC is only possible with the person’s permission. Therefore, the risk of fraud is less.
- It completes the verification immediately and in real time.
- Compared to the standard paper-based verification, eKYC is less expensive.
- Because the verification is done over the encrypted network of UIDAI, data privacy is protected.
What is the process for e KYC Aadhar?
The same rules apply to eKYC as they require to do for regular KYC.
There are three methods to achieve this:
- You must be physically present for eKYC.
- You can complete eKYC online with the use of an OTP.
- Using biometrics , you can do eKYC online .
The verification data is sent directly to the service provider after the procedure is finished. It is crucial to remember that E-KYC is just as legal in this context as any other physical certificate. The government’s commitment to digitise papers assures that false or altered documents are greatly diminished.
How does Aadhar paperless eKYC work?
Aadhaar Paperless Offline e-KYC eliminates the necessity for the resident to produce a photocopy of the Aadhaar letter and instead allows the resident to download the KYC XML and provide it to agencies requesting his/her KYC. Following section explains procedure for confirming the resident’s KYC information . The agency can check the accuracy of the KYC information and spot any manipulation because it is delivered in XML that is machine readable and digitally authenticated by UIDAI. The agency may also utilise its own OTP/Face authentication procedures to verify the user’s identity.
Data covered by e-KYC
The resident has the option to choose the fields within the XML when downloading/obtaining aadhar paperless e kyc data. Depending on the format, the following fields may be included.
- Available fields at all times
- Name of the Resident
- Mobile Number (in hashed form)
- Email (in hashed form)
When downloading Aadhar paperless e kyc data, the owner of the Aadhaar number must provide a “Share Phrase” that must be shared with the appropriate agencies in order for them to decrypt the data.
Q1. Is Aadhar e kyc legal?
Ans. eKYC is as valid as any legal document in physical one. It is government approved and used by the nation’s service providers.
Q2. How do I obtain a paperless e kyc?
Ans. Following the steps below, you can apply for the paperless e kyc once you have your Aadhaar Card:
- Visit UIDAI’s official website.
- The Aadhaar Paperless Offline e kyc form is available for download.
- Fill out and submit the form.
- The necessary data will be accessible for download in XML format. UIDAI will digitally sign this document, validating the information.
Q3. How secure is eKYC?
Ans. Yes, eKYC is a secure transaction because UIDAI transmits the personal information via an encrypted network.
Q4. Where is the Aadhar e kyc still useful today?
Ans. Many service providers, including financial organisations like banks, mutual fund houses, insurance firms, etc., utilise e kyc. It also useful in following fields:
- Accounts for Trading
- Service providers for LPG
- Stock brokers
- Stock exchanges
- Agency for KYC Registration