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Doctors Medicines MCQs Q&A

  1. 1 only
  2. 2 only
  3. Both 1 and 2
  4. Neither 1 nor 2
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1 Answers

Option 1 : 1 only

The correct answer is 1 only.

  • Aadhaar Enabled Payments:
    • Aadhaar Payment Bridge (APB): A payment can be made to a person’s bank account via his/her Aadhaar number, provided it is linked to his/her Aadhaar number. Hence, Statement 1 is correct.
    • The government of India transfers benefits and subsidies directly to the beneficiaries’ bank account through APB.
  • Aadhaar Enabled Payment System (AEPS): AEPS is the platform in which a person can do basic banking transactions including withdrawal, deposit cash, fund transfer, etc., from his/her bank account at Micro-ATMs using biometric authentication. Hence, Statement 2 is NOT correct.
    • The bank is chosen by the resident as it is a resident present transaction.

  • Aadhaar Pay:
    • ​It is a merchant version of AEPS.
    • The Application works on a low-cost Android phone with a single finger bio-metric device.
    • It enables the merchant to take cashless payment from his customers. It was launched in 2017.
  • Pay to Aadhaar:
    • It is a facility available on the UPI platform integrated in the BHIM app.
    • It enables Person-to-Person (P2P) remittance using the Aadhaar number of the recipient as a financial address.
    • The receiving Aadhaar number should be linked with his/her Aadhaar number.
    • This was also launched in 2017.
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Related Questions

In the question below, a passage is given followed by three courses of actions numbered I, II and III. On the basis of the information given, you have to assume everything in the statement to be true, and then decide which of the following suggested courses of actions logically follow(s) for pursuing. Passage: India has witnessed a rising trend in online banking frauds. Both the absolute number of frauds and the cumulative amount involved have been steadily increasing despite repeated awareness campaigns undertaken by banks and the RBI over the years through social media, SMS and E-mails. This poses a serious challenge to the safety of the digital ecosystem and thus the digital economy concept. Courses of action:  I. The government must set up an Insurance agency to reimburse the amount lost on online frauds. All online banking customers must be asked to pay a premium for the same. II. RBI must come up with a comprehensive mechanism for Banks to evaluate the Online Banking Knowledge of the customer before giving them such products. III. RBI must make it easier to report online frauds and more customers must be encouraged to file complaints on Online Banking frauds.?
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