The move will result in job opportunity for an equal number of rural people, the task force on Aaadhar-enabled unified payment infrastructure said in its report.
A task force headed by UIDAI chairman Nandan Nilekani has recommended setting up of 10 lakh “mini ATM” in villages to transfer salaries and benefits of different social schemes of the government.
The move will result in job opportunity for an equal number of rural people, the task force on Aaadhar-enabled unified payment infrastructure said in its report.
Business correspondents are the persons who facilitate banking and financial services at places where full-fledged banking services are not available.
The report said that for setting up this network the government should pay the banks the last mile transaction fee of 3.14% with a cap of Rs 20 per transaction.
The electronic transfer of money will also help the frontline development workers such as school teachers and anganwadi workers who often do not receive their salaries on time, according to the report.
Currently, the government’s rural banking infrastructure consists of about 30,000 bank branches and 1.2 lakh post offices, while in the rest of the country the infrastructure comprises 80,000 bank branches, 1.5 lakh post offices and 88,000 ATMs.
The task force has also recommended that the government-owned institutions should accept electronic payments at all locations where they collect payments from citizens, without any additional surcharge.
“Aadhaar-enabled e-payment system would help not only in ensuring the timely payments directly to the intended beneficiaries but would also help in reducing the time taken, transaction costs and the leakages among others,” Union finance minister Pranab Mukherjee said after receiving the report from Nilekani.
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