IFSCA pilots Aadhaar-based authentication for nonresident Indians in GIFT City
Business
IFSCA is piloting in the United Arab Emirates, letting nonresident Indians use Aadhaar-based face authentication to invest in India through GIFT City: no paperwork or physical visits are needed.
Announced by Chairman K Rajaraman, this digital onboarding means you can get started from the UAE, hassle-free.
IFSCA tests Aadhaar KYC abroad
This project is all about making Know Your Customer (KYC) checks smoother for overseas investors.
It is being tested to work securely from foreign IP addresses, which regular Aadhaar does not allow, and will soon expand to countries like the US
IFSCA wants GIFT City to become a go-to investment hub for India's 36 million-strong diaspora, with expected to be in place by the end of the current financial year.