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Aadhar Payment Bridge System (ABPS) is used by the Government departments and agencies for the transfer of benefits and subsidies under Direct Benefit Transfer (DBT) scheme launched by Government of India. It is a unique payment system implemented by National Payments Corporation of India (NPCI). It uses Aadhar numbers issued by UIDAI & IIN (Institution Identification Number) issued by NPCI. The basic idea of the APBS is that a person’s Aadhaar number becomes his/her financial address. Instead of having to provide multiple account details to receive a bank transfer, one only has to provide Aadhar number.
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Banes of APBS:
Boon of APBS:
Way forward:
By: ABHISHEK KUMAR GARG ProfileResourcesReport error
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