Four Financial Entities Granted Aadhaar Authentication Powers Under Section 11A for Enhanced Regulatory Compliance and Verification

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....The GoI notification authorizes four financial entities to perform Aadhaar authentication under section 11A of the Prevention of Money-laundering Act, 2002. The RBI-approved entities, including financial services and lending companies, are permitted to conduct authentication after satisfying privacy and security standards prescribed under the Aadhaar Act. The central government's authorization enables these entities to leverage Aadhaar-based verification mechanisms for regulatory compliance and customer identification purposes, subject to prescribed regulatory guidelines and consultation with UIDAI.....