Discussion
Which of the following is not true about Aadhaar-enabled payment system (AEPS)?
Answer: D
Aadhaar Enabled Payment System or AEPS is a new payment service offered by the National Payments Corporation of India to banks, financial institutions using Aadhaar number and online UIDAI authentication through their respective Business correspondent service centres.
AEPS allows four types of banking transactions: Balance Enquiry, Cash Withdrawal, Cash Deposit, and Aadhaar to Aadhaar Funds TransferE) Customers can find out information and do transfer of funds through the help of business correspondents of any bank.
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