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The IPPB (India Post Payments Bank) Online Aadhaar ATM (AePS) service allows you to access cash from the comfort of your home if you need it quickly and don t have time to visit a bank or ATM. ....
The RBI proposes to introduce programmability and offline functionality in the CBDC pilot to enable additional use cases and transactions in areas with poor internet connectivity ....
The Reserve Bank of India announces plans to bolster security measures for the Aadhaar-enabled payment system (AePS) to combat fraud risks. Current concerns revolve around the lack of two-factor authentication, posing vulnerabilities, especially for older users. The move aims to introduce additional fraud prevention mechanisms, potentially including timed OTP authentication. Strengthening AePS security is vital for fostering financial inclusivity, particularly in rural areas where digital literacy may be lower. ....
Beware! Scammers are exploiting vulnerabilities in the Aadhaar-enabled Payment System (AePS) to empty bank accounts without SMS or OTP authentication. To prevent fraud, the Bengaluru Police commissioner has issued a warning and the State Bank of India (SBI) has advised customers to lock their biometrics through the m-Aadhaar app or UIDAI portal. In these scams, criminals use victims Aadhaar biometric data to withdraw funds without consent. ....