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Module: General Practice

Q16: Regarding the "One Agent – One Bank" model implemented to secure the Aadhaar Enabled Payment System (AePS), which of the following statements is INCORRECT?

A
An AePS Touchpoint Operator (ATO) is permitted to be onboarded by multiple acquiring banks simultaneously to ensure redundancy.
B
The model aims to fix accountability for frauds to a single acquiring bank.
C
The exclusivity of the agent-bank relationship helps in better monitoring of transaction velocity limits.
D
Banks must ensure that their recruited agents do not have active IDs with other banks.
✅ Correct Answer: A
🎯 Quick Answer:
Option A is INCORRECT. The "One Agent - One Bank" Rule: As of the January 1, 2026 effectivity, the RBI strictly enforces exclusivity. An agent can serve only one acquiring bank at a time. The reason is to prevent "ID Hopping," where a fraudulent agent blocked by Bank A immediately switches to Bank B to continue scamming. It ensures a single bank is fully accountable for the agent's due diligence.
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