Apbs full form: APBS is a unique payment system

APBS is a unique payment system implemented by National Payments Corporation of India (NPCI), which uses Aadhaar number as a central key for electronically channelizing the Government subsidies and benefits in the Aadhaar Enabled Bank Accounts (AEBA) of the intended beneficiaries. It is a payment system based on Aadhaar numbers issued by UIDAI & IIN (Institution Identification Number) issued by NPCI. APB System is used by the Government Departments and Agencies for the transfer of benefits ... Abstract Standard Operating Procedures to be followed for linking the Aadhaar number bank account and seeding in NPCI mapper for DBT and DBTL transaction processing on NACH platform using Aadhaar Payments Bridge System. Aadhaar Payment Bridge System (APBS) is a payment system where Aadhaar numbers are utilised to transfer government subsidies and benefits to individuals' bank accounts. It is not a scheme but a method of transferring money. APBS stands for Automated Payment and Banking System, a digital system used by banks to make electronic payments and transfers easier. Learn the definition, purpose, and examples of APBS in this blog post.