Saturday, June 30, 2018

Use 16-digit virtual No. for KYC from today-No Need To Disclose Aadhaar; System To Be Fully Operational After August 31


Use 16-digit virtual No. for KYC from today

No Need To Disclose Aadhaar; System To Be Fully Operational After August 31

The Unique Identification Authority of India’s (UIDAI)’s virtual ID system will kick in from Sunday, allowing you to generate a 16-digit number that can be shared with telecom companies and several other service providers in case you do not wish to disclose your Aadhaar number for completing electronic know-your-customer (eKYC) formalities.

Sunday’s launch is only the first stage with the new tool, meant to protect your privacy, to be fully operational after August 31 when banks and other service providers will also have to roll out the VID facility.





Once a consumer shares his or her VID, the service provider will receive a UID token instead of the Aadhaar number. which was the case earlier. In addition, the government agency has also mandated sharing of limited details with all service providers. While the so-called global authentication user agencies (AUA) like banks or the income tax department (for issuing PAN) will receive all the details, telecom
companies or e-wallet providers will only get access to a part of the details captured on Aadhaar, like name and address, or even the photograph.

UIDAI had announced VID along with facial recognition, which will be operational from August, to address privacy and authentication concerns related to Aadhaar. While announcing that its system is ready for VID, UIDAI also gave time to service providers which are not fully ready to roll out the system. So, Sunday onwards, there will be a disincentive of 20 paise per transaction. This charge will be waived if the service provider is ready to migrate to the new system by July 31.

Banks have time till August 31 as they have to deal with a bigger network and for them too disincentives will kick in if they do not meet the deadline.

Virtual ID is a critical security measure for protecting residents’ privacy and their Aadhaar numbers. With the introduction of VID, an Aadhaar holder will have an option of not sharing his/her Aadhaar number and can generate a virtual ID to share with AUAs to perform Aadhaar-based authentication,” said UIDAI chief executive Ajay Bhushan Pandey.


Courtesy : Times of India 

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