Page 12 - Banking Finance November 2025

ROUNDUP

The dual system aims to reduce
website congestion and streamline
user access. Additionally, members can
now download Annexure K-a docu-
ment required during PF transfers-di-
rectly from the portal, further easing
operational procedures.
Ò»©­ UIDAI waives biometric

update fees for children
till October 2026

The Unique Identification Authority of
India (UIDAI) has waived all charges for
mandatory biometric updates of
Aadhaar for children, effective from
1.4 crore Aadhaar numbers deactivated to prevent October 1, 2025, until October 2026.
identity fraud The move is expected to benefit nearly
six crore children, the authority said in
The Unique Identification Authority of India (UIDAI) has deactivated over
1.4 crore Aadhaar numbers linked to deceased individuals across India as an official statement.
part of an ongoing cleanup initiative to curb identity theft and misuse of Children under five years are enrolled
government benefits. using only demographic details and a
photograph, as their fingerprints and
UIDAI CEO Bhuvanesh Kumar said, "Deactivating Aadhaar numbers of the
iris scans are not captured at that age.
deceased is essential to preserve the credibility of welfare schemes and pre- The first Mandatory Biometric Update
vent misuse. It ensures that public funds are not siphoned off through fake
(MBU) is required when the child turns
claims or identity fraud." The drive, launched in mid-2024, aims to deacti-
five, and a second update is done upon
vate two crore Aadhaar numbers by December 2025.
reaching 15 years of age.
Officials said the process faces hurdles since Aadhaar is not mandatory for
death registration, creating significant data gaps. "Many death records ei- "Both the first and second MBUs, if
ther don't include Aadhaar numbers or contain incorrect or poorly format- performed between the ages of 5-7
and 15-17, are now free of cost,"
ted information," a UIDAI official noted. The initiative seeks to ensure ac- UIDAI stated. Earlier, a fee of Rs. 125
curate identification and prevent benefits from being disbursed to the de-
was charged for each update. The ini-
ceased.
tiative aligns with UIDAI's pro-people
approach to ensure smoother Aadhaar
EPFO launches 'Passbook single login, improving transparency maintenance and hassle-free access to
and efficiency for more than 70 million essential services for children.
Lite' to simplify PF track- pension subscribers.
ing Previously, members had to log in to a Centre to launch Rs. 8,500

The Employees' Provident Fund separate website to view contributions crore scheme for coal gas-
Organisation (EPFO) has launched a and balances. Passbook Lite now offers
new feature called 'Passbook Lite' to a summary view of PF accounts directly ification
simplify account access and speed up on the EPFO website, enabling users to The Central government is preparing
claims processing for members. Union check essential details without switch- to roll out an Rs. 8,500 crore incentive
Labour and Employment Minister ing portals. The traditional passbook scheme along with a comprehensive
Mansukh Mandaviya announced the website will continue to offer detailed policy framework to promote coal gas-
feature, noting that all key EPFO ser- transaction insights for members who ification in India, according to senior
vices will now be available through a need deeper analysis. officials from the Ministry of Coal.

BANKING FINANCE | NOVEMBER | 2025 | 11