Which of the following institutions regulates the Aadhaar Enabled Payment System (AePS) in India?

Correct option is C

The Aadhaar Enabled Payment System (AePS) is a bank-led model that allows online interoperable financial transactions at Micro ATMs through the Business Correspondent (BC) of any bank using the customer’s Aadhaar authentication.

While the National Payments Corporation of India (NPCI) operates AePS as a payment network, the Reserve Bank of India (RBI) is the overall regulator of payment and settlement systems in India under the Payment and Settlement Systems Act, 2007.​

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