​NPCI Expands e-KYC Access for Regulated Entities via e-KYC Setu System​

In a significant move to enhance digital identity verification, the National Payments Corporation of India (NPCI) has announced that all entities regulated by the Reserve Bank of India (RBI), Securities and Exchange Board of India (SEBI), Insurance Regulatory and Development Authority of India (IRDAI), and Pension Fund Regulatory and Development Authority (PFRDA) can now access Aadhaar-based e-KYC services through NPCI’s e-KYC Setu System.

The e-KYC Setu System is designed to streamline the onboarding process for regulated entities by providing a secure and user-friendly platform for Aadhaar-based electronic Know Your Customer (e-KYC) authentication. This system enables verification of a client’s identity without disclosing their Aadhaar number to the reporting entity, thereby ensuring privacy and compliance with the Aadhaar Act.

Key features of the e-KYC Setu System include:​

• Simplified onboarding journey for regulated entities under RBI.
• Reduction in operational complexities and management of Aadhaar data.
• Flexibility for entities to choose appropriate technology platforms for capturing Aadhaar numbers and OTPs based on their business use cases.​

This initiative is expected to bolster financial inclusion by facilitating easier access to financial services for underbanked and underserved populations across India.​

Entities interested in leveraging the e-KYC Setu System can refer to the official circular for detailed information.

https://www.npci.org.in/what-we-do/e-kyc-services/circulars