Aadhaar Payment Bridge System (APBS)

APBS

Pre supposes that all Government beneficiaries would have Aadhaar linked account number - Government Department can send file containing IIN, Aadhaar No and Amount - APBS will receive the disbursal payment instruction from the Government Departments through Sponsor Bank – (Banks has ability to convert in the required format) - The bank identifier would be used to route transaction to the destination bank – the destination bank will maintain the linkage to Aadhaar number and bank account for seamless credit to customer account - Enriched MIS to participants - Secure Clearing and Settlement.

Objectives of Aadhaar Payment Bridge System (APBS) 

   Aadhaar Payment Bridge Solution (APBS) will be used to - 

                     Credit disbursements based on UID number, 

                     

                     To sub-serve the goal of Government of India (GOI) and Reserve Bank of India (RBI) in furthering Financial Inclusion by way of processing government disbursement using Aadhaar number, 

                     

                     To support various Schemes like NREGA, Social Security Pension, Handicapped Old Age Pension etc. of any Central or State Government bodies, to send financial details to the beneficiary using Aadhaar number

Overview

          A centralised electronic benefit transfer system to undertake direct mandates from respective sponsor or accredited bank attached to various government departments for the purpose of disbursing entitlements using Aadhaar numbers Ensuring reliable and efficient mechanism to bring the financial benefits to common man has been an important policy imperative of the Government of India. Despite of consistent efforts in this area millions of people are unable to receive the financial benefits in timely and efficient manner. Leveraging the advance technology and telecommunication infrastructure available, an electronic payment system mechanism to reach out everyone intended is no longer a distant dream. There has emerged a strong and compelling case to automate the entire government payment mechanism that will provide government sponsored financial disbursement to the poor and achieve the aim of financial inclusion in a more effective manner. Now the Government of India has the unique opportunity to achieve this long due objective with the help of Aadhaar Payment Bridge System. Ministries, State Governments, and other Government Institutions will route EBT payments to individuals on the basis of their Aadhaar numbers to Aadhaar-enabled bank accounts (AEBA) through the Aadhaar Payment Bridge.