BANKING AFFAIRS

BANKING GENERAL KNOWLEDGE

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Question [CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]

Aadhar Payment App has been developed by which of the following?

A	National Payment Corporation of India
B	Unique Identification Authority of India
C	IDFC Bank
D	All of the above

Explanation:

Detailed explanation-1: -The BHIM Aadhaar Pay App facilitates the merchants to receive payments from customers through aadhaar authentication. It is a payment interface that permits the merchant to receive payments digitally and enables funds to reach the merchant’s account directly on time. It is an initiative taken to make cashless payments.

Detailed explanation-2: -BHIM is the best Aadhaar card based payment free app downloaded all across India. Based on Aadhaar Card’s biometric information the BHIM app helps in financial transactions by scanning biometric details of customers. Similar to BHIM app there are many Aadhaar card payment apps available online free for downloads.

Detailed explanation-3: -Aadhaar Enabled Payment System (AEPS) is a payment service that allows a bank customer to use Aadhaar as his/her identity to access his/her Aadhaar enabled bank account and perform basic banking transactions like balance enquiry, cash withdrawal, remittances through a Business Correspondent.

There is 1 question to complete.