The Pension Fund Regulatory and Development Authority (PFRDA) on July 25, 2023, issued a notification regarding the verification of identity by Reporting Entity.
The following has been stated namely: -
• National Payments Corporation of India (NPCI) put up the e-KYC setu system to enable verification of identity of a client or its beneficial owner by a reporting entity through authentication under the Aadhaar Act without disclosing the Aadhaar number of the individual to the reporting entity.
• NPCI shall ensure that the authentication is carried out using the Aadhaar number of the client without disclosing full Aadhaar number to the reporting entity and after carrying out authentication, NPCI shall share the last four digits of the Aadhaar number of the client, along with his demographic details made available to it by UIDAI, digitally signed by it, with the reporting entity.
• The roles and responsibilities of various stakeholders have been attached in Annexure A.
[Notification No. PFRDA/2023/22/REG-POP/05]
