This ATM will provide a variety of services like cash withdrawal, cash deposit, balance enquiry, mini statement, loan repayment, loan disbursement, domestic remittance services, customer enrolment, e-governance, pan card and eKYC of customers.
Aadhaar Enabled Payment System or AEPS is a payment service developed by the National Payments Corporation of India (NPCI) allowing banks, financial institutions to use Aadhaar number and online UIDAI authentication for transactions through their respective business correspondent (BC) service centres.
AEPS, a new age banking service, has been approved by the RBI.
"At Mahagram we have a vision to create about 500 million transactions by FY 2020. We believe Aadhaar is the only medium to bring the large number of under-banked and unbanked people in the proper banking system. This will also help in generating transactions in areas where banking access is limited," he added.
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