Aadhar Payment Bridge System :
APBS is used for credit transactions for Government/ Government agency disbursements.
APBS has the following objectives:-
To serve the goal of Government of India (GOI) and Reserve Bank of Indi (RBI) in furthering Financial Inclusion by way of processing government disbursement using Aadhar number.
To promote electronic transfer of retail payments.
To support various Schemes like NREGA, Social Security Pension, Handicapped Old Age Pension etc. of any Central or State Government bodies, to send financial details to the beneficiary using Aadhar number.
Benefits to Customers:-
Obviates need for multiple bank accounts for different schemes Faster channel for receiving all welfare payments without any middle-man
Access to micro ATM in villages saves bank trips, thus reducing opportunity and access costs will help in more usage of formal banking system for managing savings and borrowing
Online and interoperable architecture of AEPS ensures anytime-anywhere access of bank accounts??
Aadhar Enabled Payment System (AEPS)?
How to Link your Account with Aadhar Card
A) If you do not have an account with us and have an Aadhar Card.
—=> You can open an Aadhar Enabled Account with us by submitting your AADHAR number and a mandate.
B) If you already have your AADHAR Card then how to get your AADHAR number linked to your Bank account?
—=>: If you already have a AADHAR card you have to fill up a prescribed mandate form and submit photo copy of your AADHAR card to the bank for linkage.
C) If you don't have the AADHAR Card and you are the account holder of our Bank, then what is the process to get your card linked to your account?
—=>: When you are applying for an AADHAR Card you can mention our Banks 15 digit account number in the Aadhar Card Application Form.
What is in mandate Form?
You need to provide your 15 Digit your Bank Account number, 12 Digit Aadhar number, your mobile number, your email id and self attested photo copy of the Aadhar Card.
• After Linking your Account with Aadhar Number You only need to inform your Aadhar Number and complete the formalities as prescribed by these agenciesPBS