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English Release 28-January 2015
Date Month Year
  • President's Secretariat
  • President of India congratulates king of Saudi Arabia on his accession to the throne
  • Vice President's Secretariat
  • VICE PRESIDENT MEETS TABLEAU ARTISTS & TRIBAL GUESTS OF REPUBLIC DAY PARADE-2015
  • Prime Minister's Office
  • Text of PM's remarks at the NCC Rally 2015
  • PM's remarks at the NCC Rally
  • PM salutes Punjab Kesari Lala Lajpat Rai, on his birth anniversary
  • Cabinet
  • Reconstitution of Empowered Committee regarding setting up of Semiconductor Wafer Fabrication (FAB) manufacturing facilities in the country
  • Acceptance of the Order of the High Court of Bombay in the case of Vodafone India Services Private Limited
  • Spectrum Auction for 2100 MHz Band in February 2015
  • Signing of MoU between India and Oman in the field of tourism
  • Cabinet Committee on Economic Affairs (CCEA)
  • Mandatory use of jute in packaging for the Jute Year 2014-15 (1st July, 2014 to 30th June, 2013)
  • Grant of subsidy to Jute Corporation of India to maintain its infrastructure for MSP operations
  • Proposal of the HDFC Bank Limited for (i) maintaining the permissible foreign holding in the bank up to 74% of the total paid up capital and (ii) issuance of equity shares aggregating to an amount of Rs.10,000 crore to NRIs/FIIs/FPIs subject to aggregate foreign shareholding not exceeding 74 percent of the post issue paid up capital
  • Proposal of M/s Lupin Limited for increase in aggregate limit of investment by FIls and their sub accounts registered with SEBI, from 33 percent to 49 percent
  • Min for Develop. of North-East Region
  • DoNER Minister Dr. Jitendra Singh proposes setting up of hostels for students of Northeast studying in Delhi
  • Min of Agriculture
  • No Shortage of Seeds in Kharif Season 2015
  • Min of Comm. & Information Technology
  • Reconstitution of Empowered Committee regarding setting up of Semiconductor Wafer Fabrication (FAB) manufacturing facilities in the country
  • Spectrum Auction for 2100 MHz Band in February 2015
  • Min of Defence
  • Curtain Raiser – Beating Retreat Ceremony 2015
  • LCA TEJAS Achieved Yet another Accomplishment
  • Min of Environment and Forests
  • India committed to pursue and practice clean and sustainable development – Shri Prakash Javadekar
  • Ministry of Finance
  • Acceptance of the Order of the High Court of Bombay in the case of Vodafone India Services Private Limited
  • Amended Exchange Rates of Foreign Currency Notified
  • Min of Home Affairs
  • India wants good neighbourly relations, says Union home minister
  • Min of Mines
  • Steel & Mines Minister Shri Narendra Singh Tomar pushes for scientific exploration of Kolar Gold Fields
  • Steel & Mines Minister Shri Narendra Singh Tomar Takes Stock of MMDR Ordinance Implementation Status
  • Min of Petroleum & Natural Gas
  • Global crude oil price of Indian Basket was US$ 45.38 per bbl on 27.01.2015
  • Min of Road Transport & Highways
  • Developing Roads in North-East and Border Areas is Government’s Priority, says Nitin Gadkari
  • Min of Skill Development and Entrepreneurship
  • Need to Scale Skilling Initiatives with Speed and Standard: Shri Rajiv Pratap Rudy
  • Min of Textiles
  • Grant of subsidy to Jute Corporation of India to maintain its infrastructure for MSP operations
  • Mandatory use of jute in packaging for the Jute Year 2014-15 (1st July, 2014 to 30th June, 2013)
  • Proposal of the HDFC Bank Limited for (i) maintaining the permissible foreign holding in the bank up to 74% of the total paid up capital and (ii) issuance of equity shares aggregating to an amount of Rs.10,000 crore to NRIs/FIIs/FPIs subject to aggregate foreign shareholding not exceeding 74 percent of the post issue paid up capital
  • Proposal of M/s Lupin Limited for increase in aggregate limit of investment by FIls and their sub accounts registered with SEBI, from 33 percent to 49 percent
  • Ministry of Tourism
  • Signing of MoU between India and Oman in the field of tourism
  • Min of Urban Development
  • Special Purpose Vehicle to be formed for setting up Sewerage Treatment Plants in Ganga cities
  • Ministry of Water Resources
  • German Delegation Calls on Uma Bharti
  • Jharkhand CM Raghubar Das calls on Uma Bharti
  • Min of Skill Development, Entrepreneurship, Youth Affairs and Sports
  • Speech of Shri Sarbananda Sonowal at BRICS International Youth Forum

Previous Date

 
Ministry of Finance23-February, 2012 17:17 IST
Task Force on an Aadhaar Enabled Unified Payment Infrastructure Submits Report to Finance Minister;
FM Calls for Upscaling and Implementation of Pilot Projects in More Areas
The Union Finance Minister Shri Pranab Mukherjee said that 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 t

The Union Finance Minister Shri Pranab Mukherjee said that 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.  The Finance Minister said that this would also help in bringing transparency in the system and reducing avoidable delays.  The Finance Minister Shri Pranab Mukherjee was speaking after receiving the Final Report of the Task Force on Aaadhar-Enabled Unified Payment Infrastructure presented to him by Shri Nandan Nilekan, Chairman UIDAI and the Task Force, here today. The Finance Minister Shri Mukherjee further said that pilot projects be upscaled and implemented in more areas and in more States.  So far pilot projects are mainly implemented in the areas of LPG, kerosene, fertilizers and MGNREGS which can be further expanded, the Minister added.  Today’s meeting was also attended among others by the Union Agriculture Minister, Shri Shard Pawar, Rural Development Minister, Shri Jairam Ramesh, Minister of State (Independent charge) for Consumer Affairs, Food and Public Distribution, Shri K.V. Thomas, the Minister of State for Chemicals and Fertilizers, Shri Srikant Jena, Secretaries of various Departments/Ministries and senior officials of Ministry of Finance and Planning Commission among others.

            Earlier, the Chairman UIDAI and the Task Force, Shri Nandan Nilekani made a presentation highlighting the various recommendations made by the Task Force in its Final Report. Shri Nandan Nilekani said that a strategic transformation of the governance can be brought about by the usage of electronic payments across the board. Shri Nilekani said that the Task Force has recommended a systematic platform based approach for the electronic payments. 

            The Task Force which was chaired by Chairman, UIDAI, Shri Nandan Nilekani also included Secretaries of the Departments of Expenditure, Financial Services, Fertilisers, Petroleum, Agriculture, Rural Development, and Food and Consumer Affairs among others. The members also included DG, UIDAI, Controller General of Accounts (CGA), representatives from the NIC, RBI, IBA and NPCI. The Task Force was constituted in September 2011 to recommend, inter alia, a detailed solution architecture for direct transfer of subsidy through a payments bridge wherein funds can be transferred into any Aadhaar–enabled bank account on the basis of the Aadhaar number.

The salient recommendations of the Task Force include that beneficiaries of all social safety net programs (MGNREGS, SSP, JSY, IAY, scholarships, etc.) and recipients of direct subsidy transfer payments (LPG, Fertilisers, kerosene, etc.) can greatly benefit by receiving their payments electronically, directly into accounts of their choice at either banks or post offices. The Task Force recommends that frontline development workers such as school teachers, Anganwadi workers, ASHA workers, etc. who often do not receive their salaries on time, can also receive their salaries by direct deposit into their accounts at banks and post offices. It also recommends that a network of 10,00,000 interoperable microATMs operated by Business Correspondents will have to be set-up across the country for people to access their accounts at their own convenience. In order to set-up this network quickly, the Task Force has recommended that a last mile transaction fee of 3.14% with a cap of Rs.20 per transaction be paid by Government to banks for Government payments. This will also lead to positive network externalities such as reduction in leakages and achieving financial inclusion. In order to reduce the use of cash in the economy, the Task Force also recommends that Government and Government owned institutions accept electronic payments at all locations where they collect payments from citizens, without any additional surcharge. The Task Force also recommends that over a period of time, all payments of Government over the sum of Rs.1,000 should be made or received electronically. Transacting all Government business using electronic payments will help reduce graft, and bring about greater transparency and accountability. This reform will require a systematic platform-based approach to payments. For this the Task Force has  recommended the adoption of the following:

1. Government e-Payments Gateway (CGA): Enable straight-through processing and release of funds from Ministry of Finance to the Line Ministries;

2. Aadhaar account opening and authentication platform (UIDAI): Provides electronic account opening capability along with real-time authentication of residents;

3. Aadhaar Payments Bridge (NPCI): An interoperable system operated by NPCI for transferring funds into accounts at banks and post offices on the basis of Aadhaar number;

4. MicroATM network (Banks and India Post): An interoperable network of Business Correspondents deploying MicroATMs for balance query, deposits, withdrawals, and remittances; and

5. Mobile banking: Provide self-service banking capabilities through mobile phones for everyone. The Union Finance Minister accepted the Task Force Report in-principle and stated that necessary steps would be taken to implement the recommendations of the Report. The Task Force report is available on the Ministry of Finance website i.e. www.finmin.nic.in

 

DSM/SS/GN

 


(Release ID :80491)

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