Archive · 28 Jun 2025
RBI Issues Guidelines to Strengthen AePS Payment Systems
The Reserve Bank of India (RBI) is making the Aadhaar Enabled Payment System (AePS) safer.
Because of fraud, the RBI is making new rules for banks and people who run the system.
Banks need to check the people running the system and update their information.
They will also watch all the transactions.
If someone doesn't use the system for three months, they have to go through the verification process again.
These new rules are starting January 1, 2025, to keep your money safe.
RBI issued guidelines to enhance the robustness of Aadhaar Enabled Payment Systems (AePS).
The guidelines aim to strengthen fraud risk management and streamline onboarding for AePS operators.
These measures follow reports of AePS-related frauds due to identity theft or compromised credentials.
Banks are required to conduct due diligence, update KYC, and monitor operators' activities.
The guidelines come into effect on January 1st, 2025.
- Who
- The Reserve Bank of India (RBI).
- What
- RBI issued guidelines to enhance the robustness of AePS.
- When
- The guidelines were issued on Friday and will come into effect from January 1, 2025.
- Where
- Not specified in the articles.
- Why
- To protect customers from fraud and maintain trust in the system.
- Organization
- Reserve Bank of India (RBI)
- System
- Aadhaar Enabled Payment Systems (AePS)
- Objective
- Enhance robustness and fraud risk management
- Effective Date
- January 1, 2025
- Main Function
- Facilitates interoperable transactions using Aadhaar-enabled authentication