India Post Payments Bank (IPPB), Department of Post (DoP), and Ministry of Communication have introduced issuer charges for the Aadhaar Enabled Payment System (AePS). AePS Issuer transaction charges will be in effect from June 15, 2022. AePS is a bank-led model that enables online interoperable financial inclusion transactions at the Point of Sale (MicroATM) using Aadhaar verification through any bank’s business correspondent. AePS provides six different transaction types.
Buy Prime Test Series for all Banking, SSC, Insurance & other exams
The monthly first 3 cumulative AePS Issuer transactions, such as cash withdrawal, cash deposit, and mini statement, will be provided free of charge. Over the free transaction limit, AePS issuer cash withdrawals and cash deposits will be charged Rs. 20 plus GST for each transaction and mini statement transactions will be charged Rs. 5 plus GST per transaction.
Important takeaways for all competitive exams:
Former Australian hockey player and former India men’s hockey coach Michael Nobbs passed away at…
The Bombardier Learjet 45 is a mid-size business jet aircraft. It is mainly used by…
The Supreme Court of India has once again stepped into the heated debate around Aadhaar…
February may be the shortest month of the year, but it holds many important national…
Uttar Pradesh has announced that Aadhaar authentication will be mandatory for property registration. The new…
On January 30 every year, India pauses to remember the immense sacrifices made for its…