On Wednesday the Central Government released a notification which notified the reporting entities to comply with standards of privacy and security under the Aadhaar (Targeted Delivery of Financial and Other Subsidies, Benefits and Services) Act 2016 (18 of 2016) and undertake Aadhaar authentication service of the Unique Identification Authority of India (UIDAI) under section 11A of the Prevention of Money-laundering Act, 2002.

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The Central Government released the notification after consultation with the Unique Identification Authority of India (UIDAI) and the Insurance Regulatory and Development Authority of India (IRDA), eligible for the specified Reporting Entities, namely:

  1. Aditya Birla Health Insurance Co. Limited.
  2. Aviva Life Insurance Co. India Limited.
  3. Bajaj Allianz General Insurance Company Limited.
  4. Bharti AXA General Insurance Company Limited.
  5. Cholamandalam MS General Insurance Co Ltd.
  6. TATA AIA Life Insurance Co Ltd.
  7. TATA AIG General Insurance Company Limited.
  8. United India Insurance Co. Limited.
  9. Universal Sompo General Insurance Co. Ltd.
  10. LIC of India.
  11. Magma HDI General Insurance Company Limited.
  12. Max Bupa Health Insurance Company Limited.
  13. National Insurance Company Limited.
  14. Navi General Insurance Limited (Formerly known as DHFL General Insurance Limited).
  15. Raheja QBE General Insurance Company Limited.
  16. Reliance General Insurance Company Limited (RGICL).
  17. Shriram General Insurance Company Limited.
  18. Star Health and Allied Insurance Co Ltd.
  19. Edelweiss General Insurance Company Limited.
  20. Go Digit General Insurance Limited.
  21. ICICI LOMBARD General Insurance Company Limited.
  22. IFFCO TOKIO General Insurance Company Limited.
  23. Liberty General Insurance Limited.
  24. The Oriental Insurance Company Ltd.

This notification will come into force from 19 August 2020.

With Warm Regards,

CL Bureau.

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