The UIDAI to enable more financial inclusion with Aadhar card has allowed Aadhaar Enabled Bank Account (AEBA) holders from marginalized sections of the society to have access with the banking system.
The UIDAI, which acts as a centralized authority for aadhar has joined hands with Reserve Bank of India (RBI) and National Payments Corporation of India (NPCI) to develop a platform mainly focused towards the marginalized section to secure access to banking via micro ATMs by using Aadhaar authentication.
The term AePS which stands for Aadhaar Enabled Payments Systems which aims to facilitate the financial inclusion via Micro ATMs or Point of Services which will be set up through the business correspondent of any bank using the Aadhar based authentication. The AePS allows an individual to carry on six types of transactions.
Under this AePS, customers are required to provide the following inputs to carry on transactions:
The following are the list of services provided by AePS:
The following are the main objectives of AePS
Step 1: To begin with, the customer will have to give his/her aadhar number details, fingerprint data and financial transaction via a micro ATMs
Step 2: Proceeding further the digital data, which will be in an encrypted form will be sent to the UIDAI through a ‘Bank Switch’
Step 3: The data will be verified and authenticated by the UIDAI and the result of the same will be reflected either with a YES/NO as a response.
Step 4: If the response is “YES”, then the bank will initiate the required authorization.
It is very easy to use AePS. One has to follow the below-mentioned steps
Currently, the country’s Central Bank, the Reserve Bank of India has set no limit for transactions made using AePS. But, some banks in India have capped the transactions when made using the AePS platform with the sole reason to mitigate the misuse of payment system mechanism. Some banks have set a daily limit of a maximum of Rs 50,000 on the total transactions made using the AePS.
The government of India has set a target of bringing in all the citizens in the banking framework. However, it is not a feasible idea to open bank branches in all the remote villages. Thus, the government of India has come up with the idea of AePS wherein individuals from far off places can easily access the banking system as they will be able to send or receive money and avail all kinds of financial and non – financial banking facilities by using micro ATMs and banking correspondents.
The advantage of using AePS is all the transactions will require the biometric authentication which is either the use of fingerprint scan or iris scan for verification. Signatures of individuals can be forged but one cannot forge either the iris scan or fingerprints and this has made the transactions safer. People need not have to carry their passbook or debit card for fund transfer purpose all they need is the unique Aadhaar number and the fingerprints with which transactions can be made easily without facing any hindrances.
Q: What can I do if some of the authentication transaction records indicate failure?
ANS: For all failed authentication transaction records, a defined error code is assigned. Check the details of the error code number displayed against the failed transaction to identify the exact reason for the failure.
Q: What to do? When some of the transactions I saw in the records weren't done by me?
ANS: You should contact the respective AUA or Authentication User Agency for more information if the registered authentication transaction is not performed.
Q: What does AUA transaction ID mean in authentication records?
ANS: For all authentication transactions performed by you, Authentication User Agency -AUA creates a unique transaction ID to recognize the transaction and send it to UIDAI as part of the authentication. This transaction ID along with the response code can be used by you for any further investigation by AUA.
Q: What is Auth Modality?
ANS: Auth Modality means authentication modality, The UIDAI provides authentication functionality with various modes such as a demographic, biometric, or one-time password or OTP. The authentication modality tells us the authentication mode that was used to perform this defined authentication transaction.
Q: Will submitting an Aadhaar update application promise updating data?
ANS: Submission of information or data for updates or correction does not promise an update of Aadhaar data. All submitted data will be verified and validated, after which only the same will be updated.
Q: How will I be able to submit the supporting documents for the Self-Service Update Portal?
ANS: If you are using the online Self-Service Update Portal update process, you will need to upload a scanned copy of the original documents.
Q: If I go to a permanent Aadhaar enrollment centre for updates, what details can I update?
If you go to a permanent enrollment centre, you can update both demographic and biometric details.
Q: Will my Aadhaar card number change after it is updated?
ANS: No, your Aadhaar card number will remain unchanged even after the update.
Q: Can I update my mobile number online?
ANS: No, you cannot update your mobile number online. You must go to the nearest permanent registration centre for this purpose.