What is the Aadhaar KYC and E-KYC process?

Aadhaar KYC and E-KYC process

There are several ways in which you can complete your Aadhaar E-KYC. In the first step, you can be directly present at the time of undergoing the E-KYC process. The second step as well as third step are relatively not much time consuming and can be easily conducted through online using the one time password facility or the biometric verification. The details are directly sent to the service providers electronically once the verification process is completed.

The E-KYC of individuals holds equal significance like other physical documents. The electronic documentation is quite safe and convenient in comparison to paper documents because the data cannot be tampered or stolen under any condition. Aadhaar E-KYC is also accepted by the Ministry Of Finance under the Prevention Of Money Laundering Rules.

What is the impact of Aadhaar E-KYC

According to UIDAI, more than 40 crores Aadhaar card have been issued since the year 2013. This is considered as a very positive effect across the country. Aadhaar E-KYC benefits the customers as well as the service providers. At the same time, it completely reduces the hassle of paperwork for both the parties. Customers can remain tension free and do not have to worry about carrying the Aadhaar card along with other documents all the time. On the other hand, service providers do not have to stack or safeguard tones of important documents being provided by the customers.

This reduces the overall operational expenses as well as maintenance cost. Service providers now can store the information of their customers on a single server that can be accessed anytime according to their need. Limited human intervention also ensures that the entire process becomes secure and hardly prone to mistakes and frauds. It improves the overall efficiency as well as gives instant results.