Govt Authorises Groww, Upstox, ICICI Securities and Two Others to Use Aadhaar Authentication Under PMLA 2002:

Govt Authorises Groww, Upstox, ICICI Securities and Two Others to Use Aadhaar Authentication Under PMLA 2002 The Ministry of Finance (Department of Revenue) has notified that the Central Government has permitted five reporting entities to use Aadhaar authentication under the Aadhaar Act for the purposes prescribed under Section 11A of the Money Laundering Act (PMLA) 2002. The entities that have been granted the authority to perform Aadhaar Authentication include Groww Mutual Fund, ICICI Securities Limited, Upstox Securities Private Limited, Cybrilla Technologies Private Limited and Aaritya Broking Private Limited.

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The government has taken the aforementioned action in exercise of its powers granted under sub-section (1) of section 11A of the Prevention of Money-laundering Act, 2002 (15 of 2003), in consultation with the Unique Identification Authority of India (UIDAI) and the Securities and Exchange Board of India (SEBI) and announced the same vide a Notification No. S.O. 2669(E), dated May 27, 2026.

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According to the notification, the selected entities comply with the privacy and security standards under the Aadhaar (Targeted Delivery of Financial and Other Subsidies, Benefits and Services) Act, 2016. Aadhaar authentication helps financial institutions verify the identity of customers in a faster and more secure manner while complying with anti-money laundering regulations. Refer to the official notification for complete information.