The Securities and Exchange Board of India vide its notification dated 12th May 2020 has listed out eight entities, including BSE that can undertake e-KYC Aadhaar authentication.
The Ministry of Finance in its earlier circular dated 9th May 2020 has issued a procedure for processing applications under section 11A of the Prevention of Money Laundering Act, 2002 (“PMLA”), for use of Aadhaar authentication services by entities other than the Banking companies. further entities recommended by UIDAI and permitted by SEBI, may perform Aadhaar Authentication in the Securities Market.
Therefore the government of India has notified the following eight reporting entity on the recommendation by UIDAI and SEBI to undertake Aadhaar authentication service of the UIDAI under section 11A of the Prevention of Money-laundering Act, 2002.
- Bombay Stock Exchange Limited
- National Securities Depository Limited
- Central Depository Services (India) Limited
- CDSL Ventures Limited
- NSDL Database Management Limited
- NSE Data and Analytics Limited
- CAMS Investor Services Private Limited
- Computer Age Management Services Private Limited
The above listed entities shall get registered with UIDAI as KYC user agency (“KUA”) and shall allow SEBI registered intermediaries/mutual fund distributors to undertake Aadhaar Authentication in respect of their clients for the purpose of KYC,”
Further, Sebi registered intermediaries and mutual fund distributors, who want to undertake Aadhaar authentication services through KUAs, are required to enter into an agreement with KUA and get themselves registered with UIDAI as sub-KUAs.
Click here to read the Notification
