AEPS or Aadhaar Enabled Payment System is a payment system that allows you to make transactions using your Aadhaar number and biometric authentication. AEPS transactions are usually used for financial inclusion and to make banking services more accessible to people living in remote areas.
The transaction limit for AEPS transactions can vary depending on the bank and the type of transaction. Generally, the AEPS transaction limit is set by the National Payments Corporation of India (NPCI) which is responsible for regulating the payment system.
As of my knowledge cutoff of September 2021, the AEPS transaction limits set by NPCI are as follows:
- Cash Withdrawal – Rs.10,000 per transaction and Rs.25,000 per day
- Cash Deposit – Rs.10,000 per transaction and Rs.25,000 per day
- Fund Transfer – Rs.10,000 per transaction and Rs.25,000 per day
However, it’s important to note that transaction limits are subject to change and may vary by bank, region, and account type. It’s best to check with your bank directly to get the most up-to-date information on the transaction limits for AEPS transactions.
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