Aadhaar is India's unique identity number issued by the Unique Identification Authority of India (UIDAI). It contains an individual's demographic and biometric information and is widely accepted as an officially valid document for identity verification across financial institutions, government departments, and service providers.
Banks, NBFCs, insurance companies, and investment platforms use Aadhaar for Know Your Customer (KYC) verification, opening bank accounts, applying for loans, and accessing government benefit schemes. Aadhaar-based e-KYC helps complete identity verification quickly while reducing paperwork and speeding up financial transactions.