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Core Purpose

Notification permitting Go-Digit Life Insurance Limited and Acko Life Insurance Limited to perform Aadhaar authentication under section 11A of the Prevention of Money-laundering Act, 2002.

Detailed Summary

The Department of Revenue, Ministry of Finance, by notification S.O. 3586(E), dated 22 August 2024, and issued under sub-section (1) of section 11A of the Prevention of Money-laundering Act, 2002 (15 of 2003), permitted Go-Digit Life Insurance Limited and Acko Life Insurance Limited to perform Aadhaar authentication for the purposes of section 11A of that Act. The permission follows the Central Government's satisfaction that the two reporting entities comply with the privacy and security standards under the Aadhaar (Targeted Delivery of Financial and Other Subsidies, Benefits and Services) Act, 2016 (18 of 2016), and follows consultation with the Unique Identification Authority of India and the Insurance Regulatory and Development Authority of India. Signed by Rimjhim Pandey, Under Secretary.

Full Text

REGD. No. D. L.-33004/99 The Gazette of India CG-DL-E-22082024-256571 EXTRAORDINARY PART II—Section 3—Sub-section (ii) PUBLISHED BY AUTHORITY No. 3270] NEW DELHI, THURSDAY, AUGUST 22, 2024/SHRAVANA 31, 1946 5373 GI/2024 MINISTRY OF FINANCE (Department of Revenue) NOTIFICATION New Delhi, the 22nd August, 2024 S.O. 3586(E).— In exercise of the powers conferred by sub-section (1) of section 11A of the Prevention of Money-laundering Act, 2002 (15 of 2003) (hereinafter referred to as the Money-laundering Act), the Central Government, on being satisfied that the reporting entities mentioned in the Table below comply with the standards of privacy and security under the Aadhaar (Targeted Delivery of Financial and Other Subsidies, Benefits and Services) Act, 2016 (18 of 2016) (hereinafter referred to as the Aadhaar Act) and that it is necessary and expedient to do so, after consultation with the Unique Identification Authority of India established under sub-section (1) of section 11 of the Aadhaar Act and the appropriate regulator, namely, the Insurance Regulatory and Development Authority of India, hereby permits the said reporting entities to perform authentication under the Aadhaar Act for the purposes of section 11A of the Money-laundering Act, namely:- TABLE +--------+---------------------------------+ | Sl. No. | Name of Entity | +========+=================================+ | 1 | Go-Digit Life Insurance Limited. | +--------+---------------------------------+ | 2 | Acko Life Insurance Limited. | +--------+---------------------------------+ [F. No. P-12011/4/2019-ES Cell-DOR (Part-2)] RIMJHIM PANDEY, Under Secy. Uploaded by Dte. of Printing at Government of India Press, Ring Road, Mayapuri, New Delhi-110064 and Published by the Controller of Publications, Delhi-110054.

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