The drive towards paperless society spurring demands of e-signs: eMudhra

eMudhra, the licensed Certifying Authority working in the secure digital Identity and transaction management space has now crossed over 2.5 million e-signs.

e-sign is legally valid under the Information Technology Act and it allows any AADHAAR holders to digitally sign a document, doing away with the need to print, courier or physically store paper forms.

eMudhra aims to reach 10 million e-signs within the next few months. V. Srinivasan, Chairman, eMudhra believes that the government’s demonetization efforts and drive towards a paperless, cashless society, will help the company achieve the target.

AADHAAR e-sign will help Banks and Financial Institutions open accounts without the need for using papers and forms. Banks, Financial Institutions can use e-sign for routine service requests such as Deposits, Nominations, Salary Accounts and other service requests thereby saving cost and resulting in improved customer experience.

eMudhra’s e-sign can be used in all possible situations where an individual identity of the customer is to be verified and in scenarios where a customer is required to sign documents digitally.

“The dream is to aid in the digital transformation of the whole country and improve ease of doing business. e-sign will significantly accelerate the ease of account opening and doing transactions with the Banking and Financial Services system. Thus it will result in huge cost reduction and achieve faster turnaround time for all transactions that leads to a cashless society,” said Srinivasan.

The company is already working with several Banks, Payments Banks, Financial Institutions, Brokerage Houses to enable paperless transformation.