This gazette notification, issued by the Ministry of Finance, Department of Revenue, permits four reporting entities to perform authentication under the Aadhaar Act for the purposes of section 11A of the Prevention of Money-laundering Act, 2002.
This means that these entities can now use Aadhaar for identity verification and authentication purposes related to preventing money laundering.
Key Changes
The Central Government has authorized four specific reporting entities to perform Aadhaar authentication.
The four entities are: Annapurna Finance Private Limited, Incred Financial Services Limited, PayU Finance India Private Limited, and Razorpay Technologies Private Limited.
This authorization is granted under section 11A of the Prevention of Money-laundering Act, 2002, after consultation with the Unique Identification Authority of India and the Reserve Bank of India.
The authorization is based on the government's satisfaction that these entities will comply with the privacy and security standards under the Aadhaar Act, 2016.
Impact Analysis
Reporting Entities
They must ensure compliance with the privacy and security standards of the Aadhaar Act.
Customers of Reporting Entities
They should be aware that their Aadhaar information will be used for authentication purposes by these entities, as permitted by the government.
Government and Regulatory Bodies
The government will likely monitor the implementation of this authorization to ensure adherence to privacy and security standards.
Action Items
The Government should monitor the compliance of the entities with the Aadhaar Act and Prevention of Money Laundering Act.
Key Entities Referenced
Prevention of Money-laundering Act, 2002: The primary law aimed at preventing money laundering in India. Section 11A is relevant to this notification.
Aadhaar (Targeted Delivery of Financial and Other Subsidies, Benefits and Services) Act, 2016: The law governing the use of Aadhaar for various purposes, including authentication. It outlines the privacy and security standards that must be followed.
Unique Identification Authority of India (UIDAI): The statutory authority responsible for issuing Aadhaar numbers and regulating the Aadhaar ecosystem.
Reserve Bank of India (RBI): The central bank of India and the appropriate regulator in this case, which was consulted before the notification was issued.
Annapurna Finance Private Limited: One of the four reporting entities authorized to perform Aadhaar authentication.
Incred Financial Services Limited: One of the four reporting entities authorized to perform Aadhaar authentication.
PayU Finance India Private Limited: One of the four reporting entities authorized to perform Aadhaar authentication.
Razorpay Technologies Private Limited: One of the four reporting entities authorized to perform Aadhaar authentication.
रजिस्ट्री स.ं डी.एल.- 33004/99 REGD. No. D. L.-33004/99
सी.जी.-डी.एल.-अ.-12122024-259371
CG-DxLx-xEG-I1D2H1x2x2x0 24-259371
xxxGIDExxx
असाधारण
EXTRAORDINARY
भाग II—खण् ड 3—उप-खण्ड (ii)
PART II—Section 3—Sub-section (ii)
प्राजधकार स ेप्रकाजित
PUBLISHED BY AUTHORITY
स.ं 4972] नई दिल्ली, बृहस्ट्प जतिार, दिसम्ब र 12, 2024/ अग्रहायण 21 1946
No. 4972] NEW DELHI, THURSDAY, DECEMBER 12, 2024/ AGRAHAYANA 21, 1946
जित्त मत्रं ालय
(रािस्ट्ि जिभाग)
अजधसचू ना
नई दिल्ली, 12 दिसम् बर, 2024
का.आ. 5371(अ).— केंद्रीय सरकार, धन-िोधन जनिारण अजधजनयम, 2002 (2003 का 15) (जिसे
इसमें इसके पश् चात ् धन-िोधन अजधजनयम कहा गया है) की धारा 11क की उपधारा (1) के परंतुक द्वारा प्रित्त
िजत यों का प्रयोग करते हुए, यह समाधान हो िाने पर दक नीचे सारणी में उजल् लजखत ररपोर्टकताट इकाईयां,
आधार (जित् तीय और अन् य सहाजयदकयों, प्रसुजिधाओं और सेिाओं का लजितपररिान) अजधजनयम, 2016
(2016 का 18) (जिसे इसमें इसके पश् चात् आधार अजधजनयम कहा गया है) के अधीन गोपनीयता और सरु िा
मानकों का पालन करेंगी और ऐसा करना आिश् यक तथा समीचीन है, आधार अजधजनयम की धारा 11 की
उपधारा (1) के अधीन स्ट्थ ाजपत भारतीय जिजिष्र् पहचान प्राजधकरण और समुजचत जिजनयामक, अथातट ्
भारतीय ररििट बकैं , स े परामिट करने के पश् चात् उक्त ररपोर्टकताट इकाईयों को धन-िोधन जनिारण अजधजनयम
की धारा 11क के प्रयोिनों के जलए आधार अजधजनयम के अधीन अजधप्रमाणन करन े के जलए अनुज्ञात करती है,
अथाटत् :-
8046 GI/2024 (1)2 THE GAZETTE OF INDIA : EXTRAORDINARY [PART II—SEC. 3(ii)]
सारणी
क्रम सखं य ाकं ररपोर्टकता ट इकाई
(1) (2)
1.
अन्नपूणाट फाइनेंस प्राइिेर् जलजमर्ेड
2.
इन्क्रीड़ फाइनेंजसयल सर्िटसिे जलजमर्ेड
3.
पेय ू फाइनेंस इंजडया प्राइिेर् जलजमर्ेड
4.
रेिरपे र्ेक्नोलॉिी प्राइिेर् जलजमर्ेड
[फा. सं. पी-12011/11/2021-ईएस सेल-डीओआर-भाग(1)]
मनोि कुमार ससंह, जनिेिक (मुख यालय)
MINISTRY OF FINANCE
(Department of Revenue)
NOTIFICATION
New Delhi, the 12th December, 2024
S.O. 5371(E).— In exercise of the powers conferred by sub-section (1) of section 11A of the Prevention of
Money-laundering Act, 2002 (15 of 2003) (hereinafter referred to as the Money-laundering Act), the Central
Government on being satisfied that the reporting entities mentioned in the TABLE below shall comply with the
standards of privacy and security under the Aadhaar (Targeted Delivery of Financial and Other Subsides, Benefits and
Services) Act, 2016 (18 of 2016) (hereinafter referred to as the Aadhaar Act), and it is necessary and expedient to do
so, after consultation with the Unique Identification Authority of India established under sub-section (1) of section 11
of the Aadhaar Act and the appropriate regulator, namely, the Reserve Bank of India, hereby permits the said
reporting entities to perform authentication under the Aadhaar Act for the purposes of section 11A of the Money-
laundering Act, namely:–
TABLE
Serial Number Reporting entities
(1) (2)
1. Annapurna Finance Private Limited
2. Incred Financial Services Limited
3. PayU Finance India Private Limited
4. Razorpay Technologies Private Limited.
[F. No. P-12011/11/2021-ES Cell-DOR-Part(1)]
MANOJ KUMAR SINGH, Director (Hqr.)
Uploaded by Dte. of Printing at Government of India Press, Ring Road, Mayapuri, New Delhi-110064
and Published by the Controller of Publications, Delhi-110054.