Odisha Govt. Targeted to Provide RuPay Card for 11.40 Lakh Farmers by March
The state government of Odisha has set a target to provide RuPay card to 11.40 lakh farmers by March this year by following the announcement by Prime Minister Narendra Modi to convert Kisan Credit Card to RuPay cards.
Yesterday in a Press conference, Cooperation minister Damodar Raut said that the state government is bound to implement the RuPay card scheme of the Centre. He, however, said it is not possible to tell about the benefits of this scheme. He pointed out that the outcome of this new scheme would be known only after its implementation.
The Managing Director of Odisha Cooperative Bank Mr. Tushar Kanti Panda said that the farmers can withdraw a limited amount of money from any ATM of any nationalized or private banks through RuPay card. Besides, they are taking steps to provide Point of Sale (POS) machines in all 708 Samitis through which the farmers can withdraw money by swiping their card.
Yesterday, SK Mishra had said in a letter to Registrar of Cooperative Societies, Managing Director of Odisha State Cooperative Bank (OSCB), DGM, RBI and DGM, Nabard, Bhubaneswar yesterday, Deputy Secretary, Cooperation that as per the terms of National Mission on Financial Inclusion, all the agricultural borrowers from the banking system need to be covered under RuPay Kisan Credit Card. Since the Centre is giving emphasis on the digital payments ecosystem in rural areas and agriculture sector post demonetization, there is a need to issue RuPay Kisan Card to all agricultural borrowers in short-term cooperative credit structure on the priority basis.
In order to attend a meeting convened by the Principal Secretary, Cooperation on January 12 at the State Secretariat, Mishra said and informed the aforesaid officials that in view of high priority accorded by Government of India for promotion of digital transaction and payment amongst the farming community in rural India and expansion of digital payment infrastructure in rural areas. Cooperative Banks are to extend financial support for the issuance of EMV (Europay, Master Card and Visa) chip and PIN – RuPay Kisan Card and installation of Micro ATMs.
The Kisan Card has been modified with a microchip which will have detailed information about the card holder as a part of its initiative.
Various cooperative banks and commercial banks in Odisha have distributed 44 lakh and 9 lakh Kisan Cards respectively till the date. The state government has set a target to convert these Kisan Cards to RuPay debit cards by June this year.
RuPay is a combination of two words – Rupee and Payment. RuPay is an Indian version of credit/debit card. It is very similar to international cards such as Visa/Master.
The users of this RuPay card will get alerts for every transaction made through this card. And their processing fees will be considerably lower compared with regular debit/credit cards.
In order to fulfill the objective of the Reserve Bank of India to have a domestic, open loop, and multilateral system of payments in the country, this Indian domestic card scheme was conceived and launched by the National Payments Corporation of India (NPCI).
News Source: https://odishatv.in/odisha/body-slider/odisha-govt-sets-target-to-provide-rupay-card-to-11-40-lakh-farmers-by-march-186975/