Quick Summary
The Ministry of Finance has granted permission to seven reporting entities to carry out Aadhaar authentication under the provisions of the Prevention of Money-laundering Act (PMLA), 2002. The notification was issued by the Department of Revenue on May 21, 2026. The approval comes under Section 11A
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FAQ :
The Ministry of Finance, through the Department of Revenue, issued the permission.
They are permitted to use Aadhaar authentication under the provisions of the Prevention of Money-laundering Act (PMLA), 2002.
The authorised entities are: Toyota Financial Services India Limited, Aditya Birla Capital Limited, NABFINS Limited, Indostar Capital Finance Limited, Innofin Solutions Private Limited, LIC Housing Finance Limited, and Transaction Analysts (India) Private Limited.
The move is expected to improve the efficiency of Know Your Customer (KYC) procedures, reduce onboarding friction for customers, and strengthen fraud prevention measures.
Yes, the government consulted with the Unique Identification Authority of India (UIDAI) and the Reserve Bank of India (RBI).
No, only specific entities that meet prescribed privacy and security standards have been granted this permission.
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