Wednesday, March 2, 2016

UIDAI relaxes eligibility criteria for entitties to get KUA / AUA registration



UIDAI relaxes eligibility criteria for entitties to get KUA (Kyc User Agency)  /AUA (Authentication User agency) registration with the latest notification dated January 28 2016 . This makes onboaring as KUA /AUA easier for many regulated entitties. Earlier many regulated entities were not included in Category 2 (Regulated Service Providers), so only entities with lots of customer base and turnover were able to become KUA. Now with this new changes following type of regulated entities too were included in category 2 for easy access for KUA registration.

  • All types of Banks including Payment Banks , Small Finance Banks and Non Sheduled Urban co-operative banks
  • NBFC 's (Non Banking Financial Company)
  • Regulated by CCA - Certifying authority
  • Regulated by CCA - Digital Locker providers
  • Regulated by CCA - E-Sign Providers
  • Regulated by SEBI - KRA (KYC registration agency)
  • Regulated by SEBI - Depository Participant (DP)
  • Regulated by SEBI - Asset Management Company (AMC)
  • Regulated by SEBI - Trading Exchanges
  • Regulated by SEBI - Registrar and transfer agents
  • Regulated by National Housing Bank


Apart from the above changes some relaxations were granted for Financial Pre-qualification criteria for entities comes under category 3 (Other Entities). Those changes are listed below.

  • Private or public Ltd companies need to have either minimum of paid up capital of 1 crore or annual turn over of 5 crores
  • Entitiy should be in business for a minimum of 1 year. (Earlier it was 3 years)
We have updated our earlier blog on the eligibility criteria here. Please read it for getting a full overview on the eligibility criteria. The original notification doc from UIDAI regarding the above mentioned changes are available here.

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