Live
- Renewable energy share in India’s power generation to reach 35 pc by FY30
- Samantha starts filming for ‘Rakt Brahmand’
- Rashmika captures attention with impeccable style
- ‘Dakshina’ trailer garners overwhelming response
- India’s readymade garment exports reach over $6.4 billion in April-August
- Sensex closes at all-time high, Nifty near 25,800
- Sharmila seeks CBI probe into presence of animal fat in Tirumala laddu
- HM Shah promises to drive out illegal Bangladeshi immigrants in Jharkhand
- Banks must use UPI to create more digital opportunities to empower millions: FM Sitharaman
- Himachal govt to hand over Jangi Thopan Powari hydro project to state power corporation
Cashless AP a far cry
The digitisation of cash transactions appears to be a far-fetched dream on the home turf of Chief Minister N Chandrababu Naidu, who is currently heading a panel of CMs constituted by the Union Finance Ministry to boost cashless transactions. Acute shortage of electronic devices such as e-PoS (Point of Sale) seemingly upset the Naidu’s plans.
Amaravati: The digitisation of cash transactions appears to be a far-fetched dream on the home turf of Chief Minister N Chandrababu Naidu, who is currently heading a panel of CMs constituted by the Union Finance Ministry to boost cashless transactions. Acute shortage of electronic devices such as e-PoS (Point of Sale) seemingly upset the Naidu’s plans.
According to official data, there are around 2.5 lakh recognised business establishments while the number of the unrecognised shops is much more in Andhra Pradesh.
Manufacture of the devices in such a huge number and making them available at the retail outlets at a short notice appears to be somewhat an impossible proposition
In a case of a huge mismatch, the state has only 55,000 swiping machines installed at different establishments. Sadly, around 36,000 of them are out of service.
The agencies concerned gave a scant regard to put them back to service even as the note ban-induced currency crisis has gripped the state economy and the CM launched a high-decibel campaign for digital transactions, it is alleged.
Manufacture of the devices in such a huge number and making them available at the retail outlets in a short notice appears to be somewhat an impossible proposition.
The bankers act as nodal agents in procurement of the devices and equipping them with the relevant software as per the RBI guidelines.
At a meeting with bankers a few days ago, the Chief Minister grew impatient and turned his ire at the former for their ‘lukewarm’ response’ in meeting the demand for electronic devices.
Each device is priced between Rs 1500 and Rs 8000 per each peace. The e-devices are also being made available for a monthly rent of Rs 300.
M Srikanth, executive in M Swipe Company, said that their company is striving to make available the devices as per the indent raised by the bankers.
Finance Department Special Chief Secretary Ajeya Kallam said that bankers should take active part in provision of swiping machines in match with the demand and help the State make strides towards digital transactions.
It may be recalled that the government has requested the RBI to take measures to write off the service charges for online transactions as an incentive for promotion of digital transactions.
