27 Apr 2012

Mini-ATMs in Villages

A Task Force headed by Shri Nandan Nilekani in its report on Aadhaar Enabled Unified Payment Infrastructure has envisioned an interoperable network of 10 lakh Business Correspondent Agents utilizing Micro-ATMs to cover the entire country for Financial Inclusion and Electronic Benefit Transfer (EBT). 

The report has inter-alia recommended transfer of payments from Government and Government institutions to Aadhaar enabled accounts of beneficiaries at banks and post office. Every Government department or institution that sends EBT and Direct Transfer of Subsidy (DTS) payment to individuals would need to submit details of Aadhaar Number and amount to their accredited bank, which would credit the amount into the account of the beneficiary. 

This information was given by the Minister of State for Finance, Shri Namo Narain Meena in written reply to a question in Lok Sabha today. 

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