The Ministry of Finance, through Notification S.O. 3885(E) dated 10th September 2024, has granted INDmoney Private Limited the authority to perform Aadhaar authentication in accordance with Section 11A of the Prevention of Money-laundering Act, 2002 (PMLA). This decision follows consultations with the Unique Identification Authority of India (UIDAI) and the Securities and Exchange Board of India (SEBI). The Central Government, satisfied with INDmoney’s compliance with privacy and security standards mandated by the Aadhaar (Targeted Delivery of Financial and Other Subsidies, Benefits and Services) Act, 2016, has deemed it necessary and expedient to permit such authentication. This step ensures that INDmoney meets the necessary requirements for secure handling of Aadhaar data while assisting in the prevention of money laundering, adhering to the legal framework set out by both the Aadhaar Act and the PMLA.
MINISTRY OF FINANCE
(Department Of Revenue)
NOTIFICATION
New Delhi, the 10th September, 2024
S.O. 3885(E).— In exercise of the powers conferred by sub-section (1) of section 11A of the Prevention of Money-laundering Act, 2002 (15 of 2003) (hereinafter referred to as the Money-laundering Act), the Central Government on being satisfied that the reporting entity, namely, the INDmoney Private Limited shall comply with the standards of privacy and security under the Aadhaar (Targeted Delivery of Financial and Other Subsidies, Benefits and Services) Act, 2016 (18 of 2016) (hereinafter referred to as the Aadhaar Act), and it is necessary and expedient to do so, and after consultation with the Unique Identification Authority of India established under sub-section (1) of section 11 of the Aadhaar Act and the appropriate regulator namely, the Securities and Exchange Board of India, hereby permits the said reporting entity to perform authentication under the Aadhaar Act for the purposes of section 11A of the Money-laundering Act.
[F. No. P-12011/3/2022-ES Cell-DOR]
RIMJHIM PANDEY, Under Secy
