Aadhaar authentication surges with 1.96 billion transactions in April 2023, indicating digital economy expansion

New Delhi: Aadhaar holders have executed 1.96 billion authentication transactions in April 2023, underlining the growing usage of Aadhaar and growth of digital economy in the country, according to an official release. 

“Aadhaar holders executed 1.96 billion authentication transactions in April 2023, a jump of more than 19.3 per cent over April 2022, indicating the growth of digital economy and usage of Aadhaar in India,” the Ministry of Electronics & IT said.

“While a majority of the authentications transaction numbers were carried out by using biometric fingerprint, it is followed by demographic and OTP authentications,” it added.

Aadhaar e-KYC service continues to play a “stellar role” for banking and non-banking financial services by providing transparent and improved customer experience, and facilitating ease of doing business.

“More than 250.5 million eKYC transactions were carried out in April alone,” the ministry said.

Adoption of e-KYC has significantly reduced customer acquisition cost of entities like financial institutions, telecom service providers and others.

The cumulative number of Aadhaar e-KYC transactions so far has moved past 14.95 billion by the end April 2023.

Aadhaar saturation among adult population continues to be near universal, it said, adding that during April, over 15.44 million Aadhaars were updated following requests from the residents.

“In April 2023, more than 200.6 million last mile banking transactions were made possible through AePS and the network of micro ATMs,” the release said noting AePS is enabling financial inclusion for those at the bottom of the income pyramid.

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