How it started?
The idea was contemplated in January 2018, however the above image tweeted by UIDAI on April 2, 2018 officially announced the launch of Aadhaar Virtual ID (VID). Prior to the launch of Virtual ID there was a lot of hue and cry about stealing of Aadhaar number and data theft thus challenging the Right to Privacy of the citizens. On the other hand, linking of Aadhaar with the services like filing of IT return, Mobile Number, Direct Benefit Transfer (DBT) etc, was also going on in full swing. Thus, the alternative of Aadhar VID was created to address the privacy and data theft concerns.
Any individual can create his own ‘Virtual ID’ by using his Aadhaar number and can use the VID for authenticating transactions and for using e-KYC services. This will eliminate the need to share your original Aadhaar number and ensure that your Aadhaar number and data will be safe and cannot be misused.
What exactly is this Aadhaar Virtual ID?
The Aadhaar Virtual ID is a digital and temporary 16 digit number randomly generated by the UIDAI’s resident portal which is mapped to the Aadhaar number. Since the VID is digital in nature, a person can generate it multiple times. If you generate a new VID the old one will be disabled. Also, the Aadhaar number cannot be derived using the VID thus reducing the risk of Aadhaar number being stolen by any entity.
How to Generate your very own Aadhaar Virtual ID today
To generate your Aadhaar Virtual ID please follow the following steps:
- Visit the VID generator on the UIDAI website by clicking on ‘Virtual ID (VID) Generator under the ‘Aadhaar Services’ Tab.
- On the VID Generator Page, Enter your “Aadhar Number” and the Security Code (captcha) and then click on ‘Send OTP’. The OTP will be received on the Mobile Number registered with Aadhaar.
- After receiving the OTP, you shall have the option of generating a new VID or retrieve an old VID already generated by you earlier by selecting the appropriate box. Now enter the OTP and click on submit.
- You will receive a confirmation message on the web screen.
- Your Virtual ID is generated and you will receive the Virtual ID as an SMS to the registered mobile number.
Usage, Features and Benefits of Virtual ID
- Aadhaar Virtual ID can be used for updating your Aadhaar with the services instead of giving your Aadhaar number.
- It can also be used for e-KYC and e-sign process at the time of account opening. For Eg From 1st July, 2018 you will have to use the VID at the time of e-signing of KYC documents while opening your demat and trading account with SAMCO.
- VID is optional in nature for updation of Aadhaar. One can give the Aadhaar number as well.
- Now, nobody can force you to give your Aadhar number.
- Since it is temporary in nature, it can be re-generated thus nobody can misuse it
- Only 1 VID can be generated in a day. Thus you have to wait till the next day to replace the VID
- You can generate unlimited VIDs however the above cap of 1 per day applies.
- Even though it will add to the time taken for using the services like e-sign, it will add to the data safety of the citizens
- VID is designed in a way that nobody can get the original Aadhaar number from the VID
With Aadhaar going digital, you also start using VID and get rid of problems associated with physical Aadhaar.
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How to open the trading account for nri?
Greetings! Thank you for getting in touch with us. Here’s an article on the list of documents mandatory for account opening. You need all the required Indian documents.
https://www.samco.in/knowledge-center/articles/list-of-documents-required-to-open-a-trading-and-demat-account/
In case you have any more queries, kindly send us a mail at sales@samco.in; they’ll be able to answer all your queries. Thank you for your time. Have a great day!