Since the last few decades, the world of Indian banking has undergone many changes. The government has tried and have been trying each and every possible step to make the banking facility more safe and easy. With the introduction of the AEPS, things are sure to take a huge change in the world of Indian banking.
The word AEPS stands for Aadhaar Enabled Payment System is a new way which will help the users to use their Aadhaar number or account to get access with their Aadhaar enabled bank account so that they can perform some of the basic bank functions like balance enquiry, cash withdrawal, cash deposit, remittances through a business correspondence etc. This new way of banking does not need any kind of signature or debit card for banking. So let’s find out some of the benefits of AEPS.