UIDAI suggests joint working group with SEBI

Working group to look into recognizing Aadhaar for KYC purposes in securities market

PTI | February 22, 2011



The government today said the Unique Identification Authority of India (UIDAI) has suggested formation of a working group with participation of market regulator SEBI to work out modalities for recognising 'Aadhaar' for Know Your Client purposes in securities market.

In a written reply to the Rajya Sabha, Minister of State for Finance Namo Narain Meena said that SEBI has constituted an internal working group with members of various departments to examine the proposal and formulate views.

"UIDAI has suggested constituting a joint working group of SEBI and UIDAI to work out the modalities for recognising Aadhaar as a proof of address and proof of identity from Know Your Client (KYC) purposes in securities market," he said.

The UID number will eventually form the basic universal identity over which registrars and agencies across India can build identity-based applications.

The project, known as 'Aadhaar' was rolled out last year and the government has already involved various stakeholders, including banks, for this purpose.

"Government of India, in December 2010 notified Aadhaar number issued by UIDAI as an offically valid document to satisfy KYC norms for opening of accounts with banking companies, financial institutions and initermediaries," Meena said.

 

Comments

 

Other News

BJP set to capture West Bengal

The political map of the country is set to be redrawn with the BJP set to win the West Bengal assembly elections, apart from Assam and the union territory of Puducherry. In Kerala, meanwhile, the Congress-led UDF is set to regain power. The filmstar Vijay-led TVK has emerged as the front-runner in Tamil Na

Beyond LPG: Is PNG ready for India’s next cooking fuel transition?

India, the second-largest importer and consumer of LPG after China, faces growing pressure due to supply constraints. Most of India`s LPG imports transit through the Strait of Hormuz, a focal point of global turmoil. Given that LPG forms the backbone of household kitchens and the restaurant industry, any s

Maharashtra adopts hybrid model for Census 2026 data collection

The government has initiated preparations for Census 2026 in Maharashtra, introducing a hybrid approach that combines optional self-enumeration with comprehensive door-to-door data collection to ensure complete coverage across the state.   According to senior officials, the Self-

What the nine Indian Nobel winners have in common

A Touch Of Genius: The Wisdom of India’s Nobel Laureates Edited by Rudrangshu Mukherjee Aleph Books, Rs 1499, 848 pages  

Income Tax dept holds Ghatkopar Outreach on new IT Act

The Income Tax Department organised an outreach programme in Ghatkopar, Mumbai, to raise awareness about the key features of the Income Tax Act, 2025, effective April 1, 2026. The initiative is part of a nationwide effort to promote taxpayer awareness, simplify compliance, and strengthen a transparent, eff

Making AI work where governance is closest to people

India’s next governance leap may not solely come from digitisation. It will come from making public systems more intelligent, more adaptive, and more responsive to the dynamics at the grassroots. That opportunity is especially significant at the panchayat level, where governance is not an abstract po


Archives

Current Issue

Opinion

Facebook Twitter Google Plus Linkedin Subscribe Newsletter

Twitter