Current context: The India Post Payments Bank (IPPB) has announced that it has rolled out Aadhaar enabled payment system (AePS) services.
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
- 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
