Friday, June 2, 2017

UIDAI introduces License fees and Bank gurantee for becoming AUA / KUA


UIDAI introduces License fees and Bank guarantee for becoming AUA / KUA as per latest circular which got released on May 31, 2017.  There are many AUA / KUA in production as well as in pre-production who uses EKYC and Authentication features from UIDAI. In addition to that, there are hundreds of applications from entities which are pending to be approved by UIDAI. So what it really means to them, we are trying to bring out the key points of this circular.

  1. Enterprises existing or new ones who need EKYC production access should pay a license fee of 20 lakhs for a period of 2 years with effect from June 1, 2017.
  2. Pre-production access will cost 5 Lakhs for a validity period of 3 months.
  3. In addition to that, a Bank Guarantee of 25 Lakhs should also be provided for all KUA's
  4. Enterprises whose application is pending with UIDAI needs to apply again in the new format.
  5. Existing as well as new AUA / KUA needs to sign a new AUA agreement 4.0
  6. Last date for deposit of license fee and Bank guarantees are by 30th June 2017
The original circular is available here

If you are an existing KUA who is in doubt on whether to proceed or not, we have a solution for you. We think it's positive news for existing KUA's as well as enterprises who are trying to become one. Please reach us @ 9562162111 or email us at info@finahub.com.