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State Bank of India (SBI), the country's largest lender, has decided to discontinue Aadhaar-based payment system (AEPS) and had informed its decision to the UIDAI if mobile number is not registered, reveals a reply received under Right to Information (RTI) Act.

The reply received by Srinivas Kodali, an activist, has details of the opinion of SBI's law department about using AEPS by account-holders. It says, "...in terms of the Supreme Court judgement, withdrawal of money by a beneficiary through Aadhaar authentication or AEPS is to be made or can be made permissible only for the amount of actual monetary subsidy or benefit received by the beneficiary (in his bank account) and not for using the said account (which may also have credits being credited into the same from other sources along with the government subsidy) for making withdrawal of other amounts. However, there being a practical difficulty, where beneficiary of direct benefit transfer (DBT) scheme, having other credits being credited in to his account, may also end up using AEPS system for withdrawing an amount much higher than the amount what was credited in his account as government subsidy. It may lead to stepping over the mandate of the judgement, which restricts the use of AEPS transactions only to the extent of DBT amount."

"Now, our competent authority has approved discontinuance of AEPS system from 1 December 2018, to ensure that the bank is not on the wrong side of the Supreme Court judgement in terms of compliance," the letter says.

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