Question

In payment sector what is APBS?

A Agri Payment Based Service Correct Answer Incorrect Answer
B Aadhaar Payment Bridge System Correct Answer Incorrect Answer
C Aadhaar Payment Bank System Correct Answer Incorrect Answer
D Aadhaar Payment Based System Correct Answer Incorrect Answer
E Aadhaar Payment Banking System Correct Answer Incorrect Answer

Solution

Aadhaar Payments Bridge System (APBS) set up by National Payments Corporation of India (NPCI) was put to effective use on the first day of direct cash transfer on January 1, 2013. Transactions pertaining to those beneficiaries whose accounts have already been linked to Aadhaar number were carried out through this platform. APBS along with Aadhaar Enabled Payment (AEPS) & Aadhaar Pay are the major types of prevalent Aadhaar Enabled Payment Systems. ABPS is meant for direct benefit transfer and subsidy from the government to the beneficiaries.

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