MoF permitted the National Bank for Agriculture and Rural Development to perform Aadhaar authentication on a voluntary basis

Jun 18, 2023 | by TeamLease RegTech Legal Research Team

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Industry Specific ComplianceThe Ministry of Finance (MoF) on June 15, 2023, issued a notification regarding the permit to perform Aadhaar authentication on a voluntary basis for National Bank for Agriculture and Rural Development.

The following has been stated namely: -

• The National Bank for Agriculture and Rural Development is allowed to perform Aadhaar authentication on a voluntary basis, for authentication of residents, using Yes/No or/and e-KYC authentication facility for applying for agricultural loans from banks.

• This can be done through the portal of the National Bank for Agriculture and Rural Development.

 

[Notification No. S.O. 2662(E)]


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