MOF notifies the National Bank for Agriculture And Rural Development Bank of the Aadhaar Authentication
The Ministry of Finance has notified National Bank for Agriculture And Rural Development Bank of Aadhaar Authentication through issuing a Notification.
In pursuance of sub-clause (ii) of clause (b) of sub-section (4) of section 4 of the Aadhaar (Targeted Delivery of Financial and Other Subsidies, Benefits and Services) Act, 2016 (18 of 2016), learn with rule 5 of the Aadhaar Authentication for Good Governance (Social Welfare, Innovation, Knowledge) Rules, 2020, the Department of Financial Services, Ministry of Finance, having been authorised by the Central Government, hereby notifies that the National Bank for Agriculture and Rural Development is allowed to carry out Aadhaar authentication on a voluntary foundation, for authentication of residents, utilizing Yes/No or/and e-KYC authentication facility for making use of for an agricultural loan from banks by way of the portal of the National Bank for Agriculture and Rural Development.
The National Bank for Agriculture and Rural Development shall, for the mentioned purpose adjust to all related provisions of the mentioned Act, the rules and laws made thereunder and the instructions issued by the Unique Identification Authority of India on this behalf.
This notification shall come into drive on the date of its publication within the Official Gazette.