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Aadhaar authentications lowest in June this year as wallets unauthorised for KYC

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The number of Aadhaar authentications in June ground to their lowest this year, the Economic Times reports. According to UIDAI data accessed by ET, the number of authentications done in June come out to 859 million. That same number in September was 1.48 billion in September 2017, which is pretty much one authentication per person in India. This slowdown comes as UIDAI temporarily bars mobile wallet companies — and Airtel Payments Bank — from using Aadhaar for KYC, due to privacy concerns. Paytm, the largest mobile wallet company in India, is unaffected since it also has a payments bank license that exempts it from the May 16 circular putting wallet KYC on hold. Another factor may be that the deadline for Aadhaar linking of bank accounts and mobile connections has been extended by the Supreme Court until it delivers its verdict…

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