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Module: General Practice

Q26: What is the Aadhaar-enabled Payment System (AePS)?

A
A bank-led model for online interoperable financial inclusion transactions at Micro ATM terminals, using Aadhaar authentication
B
A system exclusively for cross-border remittances using Aadhaar numbers
C
A mobile wallet operated directly by the Reserve Bank of India for subsidy payments
D
A platform for trading government securities using Aadhaar for verification
✅ Correct Answer: A
AePS (Aadhaar-enabled Payment System) is a bank-led model designed for financial inclusion.
It facilitates online, interoperable financial transactions at Point of Sale (Micro ATM) terminals using Aadhaar authentication.
Its role in inclusion is emphasized in the RBI's Payment Systems Report - June 2025.
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