Background
·
In order to further
speed track Financial Inclusion in the country, Two Working Groups were
constituted by RBI on MicroATM standards and Central Infrastructure & Connectivity
for Aadhaar based financial inclusion transactions with members representing
RBI, Unique Identification Authority of India, NPCI, Institute for Development
and Research in Banking Technology and some special invitees representing banks
and research institutions.
·
The working group on
MicroATM standards & Central Infrastructure & Connectivity has
submitted its report to RBI. As a part of the working group it was proposed to
conduct a Lab level Proof of concept (PoC), integrating the authentication
& encryption standards of UIDAI, to test the efficacy of MicroATM standards
and transactions using Aadhaar before they are put to actual use. The PoC was
successfully demonstrated at various venues.
·
AePS is a bank led
model which allows online interoperable financial inclusion transaction at PoS
(MicroATM) through the Business correspondent of any bank using the Aadhaar
authentication.AePS allows you to do six types of transactions.
·
The only inputs
required for a customer to do a transaction under this scenario are:-
a.
Bank Name
b.
Aadhaar Number
c.
Fingerprint captured
during enrollment.
Objectives
·
To empower a bank
customer to use Aadhaar as his/her identity to access his/ her respective
Aadhaar enabled bank account and perform basic banking transactions like cash
deposit, cash withdrawal, Intrabank or interbank fund transfer, balance enquiry
and obtain a mini statement through a Business Correspondent
·
To sub-serve the goal
of Government of India (GoI) and Reserve Bank of India (RBI) in furthering
Financial Inclusion.
·
To sub-serve the goal
of RBI in electronification of retail payments.
·
To enable banks to
route the Aadhaar initiated interbank transactions through a central switching
and clearing agency.
·
To facilitate
disbursements of Government entitlements like NREGA, Social Security pension,
Handicapped Old Age Pension etc. of any Central or State Government bodies,
using Aadhaar and authentication thereof as supported by UIDAI.
·
To facilitate
inter-operability across banks in a safe and secured manner.
·
To build the
foundation for a full range of Aadhaar enabled Banking services.
Banking Services Offered by AePS
·
Cash Deposit
·
Cash Withdrawal
·
Balance Enquiry
·
Mini Statement
·
Aadhaar to Aadhaar
Fund Transfer
·
Authentication
·
BHIM Aadhaar Pay
Other Services offered by AePS:
·
eKYC
·
Best Finger detection
·
Demo Auth
·
Tokenization
·
Aadhaar Seeding
Status