Understanding the eKYC Setu System: A Comprehensive Overview
The eKYC Setu system, developed by the National Payments Corporation of India (NPCI), is a groundbreaking initiative aimed at streamlining the identity verification process for various financial institutions and businesses in India. By leveraging the power of Aadhaar, this system simplifies the Know Your Customer (KYC) process, enhancing security, efficiency, and user experience.
The Role of UIDAI in the e-KYC Setu System
The Unique Identification Authority of India (UIDAI) plays a crucial role in the eKYC Setu System. Its responsibilities include:
Regulatory Oversight: UIDAI ensures that the e-KYC Setu System complies with the Aadhaar Act and its associated regulations, maintaining high standards of data security and privacy.
Enabling e-KYC Authentication: The system utilizes UI...