BANKING AFFAIRS

Detailed explanation-1: -Aadhaar Enabled Payment System (AEPS) is a type of payment system that is based on the Unique Identification Number and allows Aadhaar card holders to seamlessly make financial transactions through Aadhaar-based authentication.

Detailed explanation-2: -A. 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.

Detailed explanation-3: -Aadhaar Enabled Payment System (AEPS): AEPS is the platform in which a person can do basic banking transactions including withdrawal, deposit cash, fund transfer, etc., from his/her bank account at Micro-ATMs using biometric authentication.

Detailed explanation-4: -AePS, or Aadhaar enabled payment system, is a payment mechanism that allows Aadhaar cardholders to conduct banking transactions. It is an initiative that empowers all sections of society by allowing them to conduct banking transactions using an Aadhaar card.

Detailed explanation-5: -Through the Aadhaar enabled Payment System or AePS, all Aadhaar card holders can make payments, transfer funds, make withdrawals, deposit cash and other bank related activities by using Aadhaar based authentication.