RBI releases draft rules for Aadhaar based payment operators to avert fraud

The Reserve Bank on Wednesday came out with draft rules on the due diligence to be carried out for Aadhaar-enabled Payment System (AePS) touchpoint operators by lenders, in order to prevent frauds.

The proposals focus on streamlining the process for onboarding of AePS touchpoint operators and on-going due diligence, as per an official statement on the central bank website.