According to the Ministry of Electronics and Information Technology, about 200 crore Aadhaar authentication transactions were completed in January of this year. So far, holders have carried out over nine thousand crore authentication transactions, nearly 200 crores of which occurred in January, indicating the growth of the country’s digital economy. According to the Ministry, biometric fingerprints were used for the majority of the authentication transaction numbers.
While biometric fingerprint authentication was used for the majority of transaction numbers, demographic and OTP authentications were also used. In the month of January, 135.53 crore biometric fingerprint-based authentications were performed, highlighting its use and utility in residents’ daily lives.
As per a statement by MeitY, Aadhaar holders carried out over 9029.28 crore authentication transactions so far, [U1] including 199.62 crore in January 2023 alone, indicating the significant growth of the digital economy in the country.”
The Unique Identification Authority of India (UIDAI) has already implemented a new security method for fingerprint authentication using Aadhaar. The in-house developed artificial intelligence and machine learning (AI/ML)-based security mechanism now checks the liveness of the obtained finger print using a combination of finger minutiae and finger picture.
The Aadhaar e-KYC service continues to play an essential role in banking and non-banking financial services by delivering a more transparent and enhanced client experience, as well as facilitating the convenience of doing business. During January 2023, over 29.52 crore e-KYC transactions were completed.
By the end of January, Aadhaar saturation had reached 94.65% across all age groups, with adult population saturation approaching universal. Following requests from citizens, more than 1.37 crore Aadhaar cards were successfully updated during the month of January.
According to the ministry, e-KYC is in use by 170 companies, including 105 banks. Deployment of e-KYC has also greatly lowered the cost of customer acquisition for companies such as banking institutions and telecommunications service providers. By the end of January 2023, the total number of Aadhaar e-KYC transactions is expected to reach 1412.25 crore.”
Financial inclusion for individuals at the bottom of the income pyramid is being enabled by the Aadhar Enabled Payment System (AePS). AePS and the network of micro-ATMs will have enabled 1,629.98 crores of last-mile financial transactions by the end of January 2023. More than 1100 government projects, programmes, and initiatives conducted by both the centre and the states have been notified to use Aadhaar.
The digital ID is assisting numerous ministries and departments at the federal and state levels in enhancing efficiency, transparency, and welfare service delivery to targeted beneficiaries.
