Aadhaar authentication shows rise of 19.3%; records 1.96 billion transactions in April 2023

Aadhaar e-KYC service continues to play a "stellar role" for banking, non-banking financial services by providing transparent and improved customer experience, and facilitating ease of doing business

PGurus Newsdesk

May 23, 2023

Aadhaar e-KYC service continues to play a "stellar role" for banking, non-banking financial services by providing transparent and improved customer experience, and facilitating ease of doing business

Over 250.5 million e-KYC transactions, 1.96 bn Aadhaar authentication in April

According to an official release, Aadhaar holders executed 1.96 billion authentication transactions in April 2023, a jump of more than 19.3 percent over April 2022, highlighting the growing usage of Aadhaar and the growth of the digital economy in the country.

Ministry of Electronics & IT said in a statement, “Aadhaar holders executed 1.96 billion authentication transactions in April 2023, a jump of more than 19.3 percent over April 2022, indicating the growth of the digital economy and usage of Aadhaar in India.”

The statement read, “While most of these authentication transaction numbers were carried out by using fingerprints, this is followed by demographic and OTP-based authentications. Face authentication is also witnessing good usage across sectors for easy service delivery.”

While Aadhaar saturation among the adult population continues to be near universal, the saturation level among all age groups has now climbed to 94.8 percent, indicative of the reach and adoption of Aadhaar among residents. During the month of April more than 15.44 million Aadhaars were updated on request from the residents, it said.

It also said that the Aadhaar e-KYC service continues to play a “stellar role” for banking and non-banking financial services by providing transparent and improved customer experience and facilitating ease of doing business.

“More than 250.5 million eKYC transactions were carried out in April alone,” the ministry said.

The adoption of e-KYC has significantly reduced customer acquisition costs of entities like financial institutions, telecom service providers, and others. The cumulative number of Aadhaar e-KYC transactions so far has moved past 14.95 billion by the end of April 2023.

[With Inputs from IANS]

PGurus is now on Telegram. Click here to join our channel and stay updated with all the latest news and views

For all the latest updates, download PGurus App.