Question
The Finance Ministry has allowed _______ financial
companies to undertake Aadhaar-based authentication of clients & as they are already reporting entities under the PMLA, will be able to verify the identity of clients and beneficial owners' details using their Aadhaar numbers.Solution
The Finance Ministry has allowed 22 financial companies, including Amazon Pay (India) and Hero FinCorp, to undertake Aadhaar-based authentication of clients. These 22 companies, which are already reporting entities under the PMLA, will be able to verify the identity of clients and beneficial owners' details using their Aadhaar numbers. These 22 financial companies include Godrej Finance, Amazon Pay (India) Pvt Ltd, Aditya Birla Housing Finance, Tata Motors Finance Solution, IIFL Finance and Mahindra Rural Housing Finance Ltd.
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