The proposal aims to offer lastmile banking access to underserved communities that face challenges in accessing ATMs and bank branches.
To achieve this, the state plans to introduce Aadhaarbased digital payment services at ration shops in rural areas, hill stations, and densely populated regions lacking banking facilities. A digital device with biometric authentication, capable of providing core banking services, would be installed at ration shops and a banking correspondent would be deployed. Eight years ago, the centre mooted the idea, but it did not materialise due to challenges in linking electronic Point-ofSale machines to core banking solutions platforms.
This story is from the September 30, 2024 edition of The New Indian Express.
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This story is from the September 30, 2024 edition of The New Indian Express.
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