New Student Offer - Use Code HELLO

Register Now

IPPB rolled out AePS Services

Published on September 10, 2019
Current context: The India Post Payments Bank (IPPB) has announced that it has rolled out Aadhaar enabled payment system (AePS) services.
IPPB rolled out AePS Services 
  • The announcement has been made by the Union Minister for Communications and IT Ravi Shankar Prasad on the 1st anniversary of the IPPB.
  • The vision is to build a ‘Truly Inclusive Financial System’ and the most trusted, accessible and affordable bank for the common man in India.
  • IPPB with the launch of AePS services has now become the single largest platform in the country for providing interoperable banking services to the customers of any bank.
  • Now, any common person can perform basic banking services such as cash withdrawals and balance enquiry, with a bank account linked to Aadhaar irrespective of the bank they hold their account with.
  • A customer who has an Aadhaar linked account can authenticate his/her identity with Aadhaar authentication & fingerprint scan, to complete a transaction.
  • India Post Payments Bank (IPPB) was established under the Department of Posts, Ministry of Communication.
  • IPPB’s 100% equity is owned by the Government of India.

Question: 

Q.1 Choose the correct statement about the India Post Payments Bank (IPPB)?
a. Only 90% equity is owned by the government of India
b. It provides Aadhaar enabled payment system (AePS) services
c. IPPB comes under the Ministry of Information & Broadcasting
d. a, b, c are correct
ebook store

About us

ramandeep singh

Ramandeep Singh, your guide to banking and insurance exams. With 14 years of experience and 5000+ selections, Ramandeep understands the path to success, having transitioned himself from Dena Bank and SBI. He's passionate about helping you achieve your banking and insurance dreams.

  • Follow me:
Close Menu
Close Menu