The Government notified the SBI Cards and PhonePe to undertake Aadhaar authentication service of Unique Identification Authority of India (UIDAI).
The government empowered under sub-section (1) of section 11A of the Prevention of Money-laundering Act, 2002 on being satisfied that the reporting entities namely M/s. SBI Cards and Payment Services Limited and M/s. PhonePe Private Limited. comply with standards of privacy and security under the Aadhaar (Targeted Delivery of Financial and Other Subsidies, Benefits and Services) Act, 2016 and it is necessary and expedient to do so, and after consultation with the Unique Identification Authority of India established under sub-section (1) of section 11 of the Aadhaar (Targeted Delivery of Financial and Other Subsidies, Benefits and Services) Act, 2016 and the regulatory authority, namely the Reserve Bank of India notifies the reporting entity to undertake Aadhaar authentication service of the Unique Identification Authority of India under section 11A of the Prevention of Money-laundering Act, 2002.
Earlier, the government notified 24 Insurance Companies as reporting entities to undertake Aadhaar authentication service of the Unique Identification Authority of India under section 11A of the Prevention of Money-laundering Act, 2002.
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