In response to concerns of fraud perpetrated through the Aadhaar enabled Payments System (AePS), the RBI has issued (draft) directions to all banks and to the NPCI for onboarding and ongoing due diligence of AePS touchpoint operators. While the RBI’s efforts towards making the AePS system safer and more secure are welcome, we are concerned that some of the requirements would result in loss of convenience for the customer.
The response is available here.