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Core Purpose

Notification permitting HDB Financial Services Limited to perform Aadhaar authentication under Section 11A of the Prevention of Money-laundering Act, 2002.

Detailed Summary

This notification of the Ministry of Finance, Department of Revenue (S.O. 4240(E), dated 26th September 2024, F. No. P-12011/11/2021-ES Cell-DOR-Part(1)), issued in exercise of powers under sub-section (1) of section 11A of the Prevention of Money-laundering Act, 2002 (15 of 2003), permits the reporting entity HDB Financial Services Limited to perform authentication under the Aadhaar (Targeted Delivery of Financial and Other Subsidies, Benefits and Services) Act, 2016 (18 of 2016) for the purposes of section 11A of the Money-laundering Act, after the Central Government, following consultation with the Unique Identification Authority of India and the appropriate regulator, the Reserve Bank of India, was satisfied that the entity would comply with the applicable privacy and security standards; the notification was signed by Rimjhim Pandey, Under Secretary.

Full Text

6285 GI/202 4 (1) EXTRAORDINARY PART II —Section 3 —Sub-section ( ii) PUBLISHED BY AUTHORITY No. 3882 ] NEW DELHI, THURSDAY , SEPTEMBER 2 6, 2024 /ASVINA 4 , 194 6 CG-DL-E-26092024-257531 MINISTRY OF FINANCE (Department of Revenue) NOTIFICATION New Delhi, the 26th September, 2024 S.O. 4240 (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 entity, namely, HDB Financial Services Limited shall comply with the standards of privacy and security under the Aadhaar (Targeted Delivery of Financial and Other Subsides, Benefits and Services) Act, 2016 (18 of 2016) (hereinafter referred to as the Aadhaar Act), and 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 Reserve Bank of India, hereby permits the said reporting entity to perform authentication under the Aadhaar Act for the purposes of section 11A of the Money - laundering Act. [F. No. P-12011/11/2021 -ES Cell -DOR -Part(1) ] RIMJHIM PANDEY , Under Secy. Uploaded by Dte. of Printing at Government of India Press, Ring R oad, Mayapuri, New Delhi -110064 and Published by the Controller of Publications, Delhi -110054.

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