Consider the following statements regarding AePS (Aadhaar-enabled Payment System) :
Statement-I: AePS allows Aadhaar-based financial transactions without the need for OTPs or bank account details.\
Statement-II: AePS requires users to activate their bank account link with Aadhaar separately to enable transactions.
Which one of the following is correct in respect of the above statements?
1
Both Statement-I and Statement-II are correct, and Statement-II is the correct explanation for Statement-I.
2
Both Statement-I and Statement-II are correct, and Statement-II is not the correct explanation for Statement-I.
3
Statement-I is correct, and Statement-II is incorrect.
4
Statement-I is incorrect, and Statement-II is correct.