Banking · Financial Inclusion
Regarding the Aadhaar enabled Payment System (AePS) and its role in banking, consider the following assertions: Statement 1: AePS is an interoperable system that exclusively allows cash withdrawal and balance enquiry services through biometric authentication at any micro-ATM. Statement 2: For an AePS transaction, a customer must use the 16-digit debit card number of their bank account. Statement 3: The fundamental goal of AePS is to promote financial inclusion by offering banking services to individuals without traditional banking infrastructure access. Which of the options below is correct?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1All statements are correct
- 2Only Statement 2 and 3 are correct
- 3Only Statement 1 and 3 are correct
- 4Only Statement 3 is correct✓
Correct answer
Only Statement 3 is correct
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