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Authentication » Aadhaar & Financial Inclusion

Aadhaar & Financial Inclusion


By providing a verifiable digital ID as an approved KYC, Aadhaar has provided a gateway for millions to easily avail financial services and gain access to the benefits of social safety net schemes that they are entitled to.

Aadhaar was conceptualized as not just a Robust Digital ID, but, also a tool for achieving the Financial Inclusion objectives of Government of India. Some of the early strategy documents which laid the foundation and became the roadmap for UIDAI to achieve the financial Inclusion have been put in the reference links below.

To achieve this objective, UIDAI signed an MoU with National Payments Corporation of India (NPCI) in January 2011, to enable financial inclusion through Aadhaar Enabled Bank Accounts and Financial Transactions. The MoU is available at the reference link below. As an outcome of this MoU, utilizing NPCI’s reach and strength as interbank clearing and payment settlement organization, NPCI launched following two products based on properties of Aadhaar:

  • 1. Aadhaar Payment Bridge (APB) – to enable Aadhaar to act as financial address
  • 2. Aadhaar Enabled Payment System (AEPS) – to enable Aadhaar as Authentication tool for financial transactions