Sunday, June 18, 2017
Tuesday, June 6, 2017
eKYC, KUA - Latest UIDAI circular specifies fees, etc.
UIDAI has last week (on May 31 2017) published a circular for AUA/ KUA agreements.
Salient points in this circular are the requirements that an agency will need to provide a Bank Guarantee of Rs 25 Lakhs and a license fee of Rs 20 Lakhs (for a 2 year license) to become a KUA. The intention behind this exercise seems to be to weed out any spurious agencies acting as KUAs, and ensure that those seeking to become KUA have financial viability and a genuine business need to obtain eKYC data.
This is certainly a welcome step by UIDAI to impose some sort of financial filters on who can become a KUA.
Recently, we have heard some KUAs offering third-parties the ability to obtain eKYC data by making them sub-KUAs. Perhaps UIDAI would come up with regulations governing data sharing by KUAs and liabilities in this regard.
Salient points in this circular are the requirements that an agency will need to provide a Bank Guarantee of Rs 25 Lakhs and a license fee of Rs 20 Lakhs (for a 2 year license) to become a KUA. The intention behind this exercise seems to be to weed out any spurious agencies acting as KUAs, and ensure that those seeking to become KUA have financial viability and a genuine business need to obtain eKYC data.
This is certainly a welcome step by UIDAI to impose some sort of financial filters on who can become a KUA.
Recently, we have heard some KUAs offering third-parties the ability to obtain eKYC data by making them sub-KUAs. Perhaps UIDAI would come up with regulations governing data sharing by KUAs and liabilities in this regard.
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