Insurers acting as registrars to Unique Identification Authority of India (UIDAI) would have to disclose the income/expense arising out of 'Aadhaar' enrolment process, while preparing financial statements.
In a circular to chief executive officers (CEOs) of all insurance companies, Insurance Regulatory and Development Authority (Irda) said that these details should be disclosed as a separate line item under the Profit & Loss Account.
UIDAI has been created to issue a unique identification number (Aadhaar) to residents of India.
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It authorises and recognises 'Registrars' to enroll individuals for Aadhaar.
Irda said that as per information available, among the insurers, only Life Insurance Corporation of India is registered as a Registrar with UIDAI.
It said that income should be shown under the major head of 'Other Income' and expenses should be shown below the line item 'Expenses other than those directly related to the insurance business. This circular is effective from financial year 2012-13.
