Vulnerabilities of the Aadhaar-enabled Payment System (AePS) revealed

Discuss the role played by NPCI in transforming the digital payment ecosystem in India?

Also, elaborate on the challenges faced by Digital Payment infrastructure in India? (250 words)

Approach:

• Introduce by giving a brief overview of Digital Payment infrastructure
• Enumerate the role of NPCI in transforming in digital payment ecosystem
• Enumerate the challenges faced by Digital Payment infrastructure
• Way Forward and Conclusion