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Aadhaar Enabled Payment System (AEPS) is a type of payment system that is based on the Unique Identification Number and allows Aadhaar cardholders to seamlessly make financial transactions through Aadhaar-based authentication. Which of the following services is not provided by Aadhar Enabled Payment System?
- a)Cash Withdrawal
- b)Cash Deposit
- c)Aadhaar to Aadhaar Fund Transfer
- d)Balance Enquiry
- e)All services are provided
Correct answer is option 'E'. Can you explain this answer?
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Aadhaar Enabled Payment System (AEPS) is a type of payment system that...
Aadhaar Enabled Payment System (AEPS) is a type of payment system that is based on the Unique Identification Number and allows Aadhaar cardholders to seamlessly make financial transactions through Aadhaar-based authentication. It is a secure and convenient method of conducting banking transactions using Aadhaar authentication. AEPS is regulated by the National Payments Corporation of India (NPCI).
The AEPS provides several services to Aadhaar cardholders. These services include:
Cash Withdrawal: Aadhaar cardholders can withdraw cash from their bank accounts by using their Aadhaar number and biometric authentication at AEPS enabled Micro-ATMs. This service is particularly beneficial for individuals who do not have easy access to traditional bank branches or ATMs.
Cash Deposit: AEPS allows individuals to deposit cash into their bank accounts by providing their Aadhaar number and biometric authentication at AEPS enabled Micro-ATMs. This service is convenient and eliminates the need for individuals to visit bank branches for cash deposits.
Aadhaar to Aadhaar Fund Transfer: AEPS enables individuals to transfer funds from their bank account to another bank account using Aadhaar authentication. This service is useful for individuals who want to send money to their family members, friends, or other individuals who have an Aadhaar number.
Balance Enquiry: AEPS allows individuals to check the balance in their bank account by using their Aadhaar number and biometric authentication at AEPS enabled Micro-ATMs. This service provides individuals with real-time information about their account balance.
Conclusion: In conclusion, the Aadhaar Enabled Payment System (AEPS) provides various services such as cash withdrawal, cash deposit, Aadhaar to Aadhaar fund transfer, and balance enquiry. Therefore, option E, which states that all services are provided, is the correct answer. AEPS is a convenient and secure payment system that leverages Aadhaar authentication to facilitate financial transactions for Aadhaar cardholders.
The AEPS provides several services to Aadhaar cardholders. These services include:
Cash Withdrawal: Aadhaar cardholders can withdraw cash from their bank accounts by using their Aadhaar number and biometric authentication at AEPS enabled Micro-ATMs. This service is particularly beneficial for individuals who do not have easy access to traditional bank branches or ATMs.
Cash Deposit: AEPS allows individuals to deposit cash into their bank accounts by providing their Aadhaar number and biometric authentication at AEPS enabled Micro-ATMs. This service is convenient and eliminates the need for individuals to visit bank branches for cash deposits.
Aadhaar to Aadhaar Fund Transfer: AEPS enables individuals to transfer funds from their bank account to another bank account using Aadhaar authentication. This service is useful for individuals who want to send money to their family members, friends, or other individuals who have an Aadhaar number.
Balance Enquiry: AEPS allows individuals to check the balance in their bank account by using their Aadhaar number and biometric authentication at AEPS enabled Micro-ATMs. This service provides individuals with real-time information about their account balance.
Conclusion: In conclusion, the Aadhaar Enabled Payment System (AEPS) provides various services such as cash withdrawal, cash deposit, Aadhaar to Aadhaar fund transfer, and balance enquiry. Therefore, option E, which states that all services are provided, is the correct answer. AEPS is a convenient and secure payment system that leverages Aadhaar authentication to facilitate financial transactions for Aadhaar cardholders.
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Aadhaar Enabled Payment System (AEPS) is a type of payment system that...
Aadhaar Enabled Payment System (AePS) is a system developed by the National Payments Corporation of India (NPCI) that allows people to carry out financial transactions on a Micro-ATM by furnishing just their Aadhaar number and verifying it with the help of their fingerprint/iris scan.
Adhar Enabled Payment System provides the following services.
Adhar Enabled Payment System provides the following services.
- Cash Deposit
- Balance Enquiry
- Aadhaar to Aadhaar Fund Transfer
- Mini Statement
- Best Finger Detection
- Adhar
Benefits of AePS
There are a number of benefits of AePS. Some of those are mentioned below:
There are a number of benefits of AePS. Some of those are mentioned below:
- Banking, as well as non-banking transactions, can be performed through a banking correspondent.
- Banking correspondents of one bank can perform transactions of other banks as well.
- People do not have to furnish their debit/credit card for making transactions through AePS.
- The fingerprint is needed for transaction authentication which makes it safer.
- Micro PoS machines can be taken to distant places enabling people in remote villages to make transactions instantly.
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Aadhaar Enabled Payment System (AEPS) is a type of payment system that is based on the Unique Identification Number and allows Aadhaar cardholders to seamlessly make financial transactions through Aadhaar-based authentication. Which of the following services is not provided by Aadhar Enabled Payment System?a)Cash Withdrawalb)Cash Depositc)Aadhaar to Aadhaar Fund Transferd)Balance Enquirye)All services are providedCorrect answer is option 'E'. Can you explain this answer?
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Aadhaar Enabled Payment System (AEPS) is a type of payment system that is based on the Unique Identification Number and allows Aadhaar cardholders to seamlessly make financial transactions through Aadhaar-based authentication. Which of the following services is not provided by Aadhar Enabled Payment System?a)Cash Withdrawalb)Cash Depositc)Aadhaar to Aadhaar Fund Transferd)Balance Enquirye)All services are providedCorrect answer is option 'E'. Can you explain this answer? for Banking Exams 2024 is part of Banking Exams preparation. The Question and answers have been prepared according to the Banking Exams exam syllabus. Information about Aadhaar Enabled Payment System (AEPS) is a type of payment system that is based on the Unique Identification Number and allows Aadhaar cardholders to seamlessly make financial transactions through Aadhaar-based authentication. Which of the following services is not provided by Aadhar Enabled Payment System?a)Cash Withdrawalb)Cash Depositc)Aadhaar to Aadhaar Fund Transferd)Balance Enquirye)All services are providedCorrect answer is option 'E'. Can you explain this answer? covers all topics & solutions for Banking Exams 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Aadhaar Enabled Payment System (AEPS) is a type of payment system that is based on the Unique Identification Number and allows Aadhaar cardholders to seamlessly make financial transactions through Aadhaar-based authentication. Which of the following services is not provided by Aadhar Enabled Payment System?a)Cash Withdrawalb)Cash Depositc)Aadhaar to Aadhaar Fund Transferd)Balance Enquirye)All services are providedCorrect answer is option 'E'. Can you explain this answer?.
Aadhaar Enabled Payment System (AEPS) is a type of payment system that is based on the Unique Identification Number and allows Aadhaar cardholders to seamlessly make financial transactions through Aadhaar-based authentication. Which of the following services is not provided by Aadhar Enabled Payment System?a)Cash Withdrawalb)Cash Depositc)Aadhaar to Aadhaar Fund Transferd)Balance Enquirye)All services are providedCorrect answer is option 'E'. Can you explain this answer? for Banking Exams 2024 is part of Banking Exams preparation. The Question and answers have been prepared according to the Banking Exams exam syllabus. Information about Aadhaar Enabled Payment System (AEPS) is a type of payment system that is based on the Unique Identification Number and allows Aadhaar cardholders to seamlessly make financial transactions through Aadhaar-based authentication. Which of the following services is not provided by Aadhar Enabled Payment System?a)Cash Withdrawalb)Cash Depositc)Aadhaar to Aadhaar Fund Transferd)Balance Enquirye)All services are providedCorrect answer is option 'E'. Can you explain this answer? covers all topics & solutions for Banking Exams 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Aadhaar Enabled Payment System (AEPS) is a type of payment system that is based on the Unique Identification Number and allows Aadhaar cardholders to seamlessly make financial transactions through Aadhaar-based authentication. Which of the following services is not provided by Aadhar Enabled Payment System?a)Cash Withdrawalb)Cash Depositc)Aadhaar to Aadhaar Fund Transferd)Balance Enquirye)All services are providedCorrect answer is option 'E'. Can you explain this answer?.
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