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English Release 26-November 2014
Date Month Year
  • President's Secretariat
  • Quality-oriented education can transform India into one of the leading nations of the world, says President
  • Speech by the President of India, Shri Pranab Mukherjee at the Eleventh Convocation of Symbiosis International University
  • Deepen private sector involvement in education, says President
  • President of India condoles the passing away of Sitara Devi
  • Prime Minister's Office
  • PM's bilateral engagements on the sidelines of the SAARC Summit
  • Speech by the Prime Minister at the SAARC Summit
  • 26/11: PM salutes the bravery of security personnel who laid down their lives and reaffirms commitment to combat terrorism
  • Department of Space
  • Commercial Application of Space Technology
  • Achievements in Space Science
  • Min for Develop. of North-East Region
  • Balance of Trade in North-Eastern Region
  • Min of Commerce & Industry
  • Implementation of National Design Polic
  • Extension Of Validity Of Industrial Licences By DIP
  • Steps Taken To Improve Position In Business Index
  • Schemes for Promotion and Modernization Of Industrial Unit
  • Implementation of National Manufacturing Polic
  • Push To Manufacturing Sector
  • Doubling India's Share in Global Trade
  • Boosting Industrial Production
  • Signing Of FTAs
  • New Foreign Trade Policy to address slowdown concerns of exporters: Commerce Secretary
  • Min of Earth Science
  • Forecasting of Natural Calamities
  • Global Warming
  • Min of Health and Family Welfare
  • ‘Delhi Declaration’ at closing of PPD International Conference focuses on Youth to harness Demographic Dividend
  • Min of Home Affairs
  • West Bengal Protection of Interest of Depositors in Financial Establishment Bill for Presidential Assent
  • Releasing of Undertrials who have Served Half of Maximum Sentence
  • NSG HUBS
  • Identifying Citizens While Preparing NPR
  • Hoisting of National Flag Permanently in Connaught Place, Delhi
  • Floods in Jammu and Kashmir
  • Crimes Against Women and Children in Delhi and NCR
  • Rise in Overstay of Pakistani Nationals
  • No Output on ISIS trying to Gain Ground in Kashmir
  • Decline in Terrorism and Infiltration
  • Compensation to Victims of 1984 Anti-Sikh Riots
  • No Cap for receiving contribution under FCRA
  • Min of Human Resource Development
  • Improving Learning Outcome in the Country
  • Gender Sensitization on Campuses Across the Country
  • Providing Quality Literacy to All
  • Re-Structuring of UGC
  • Min of Information & Broadcasting
  • IDPA signs a 5-year contract with DD National to showcase documentary films from across the country
  • Directorial debut ‘ Ek Hazarachi Note’ enters competition category of IFFI, 2014
  • Role of Changing Technology in Cinema: A Discussion
  • Songs of the Bards of Bengal: The Bauls and Fakirs: An Attempt to Preserve the Tradition
  • Bodhon: An Experiment to Define Motherhood
  • Justice C.K.Prasad, Retd. Judge of the Supreme Court of India appointed as Chairman Press Council of India
  • Rituals can create an ‘Experiential sphere’ different from conventional audio-visual theatre says the award winning Sinhalese director IndikaFerdinando
  • Candles in the Wind: Struggle of Women
  • Film is a tool of Social Reform: Sabyasachi Mohapatra
  • Min of Micro,Small & Medium Enterprises
  • KVIC Exhibitions Outside India
  • Investment in MSME Run by Small Entrepreneurs
  • Cooperation with Cote D’ivoire in Sme Sector
  • Khadi Gramodyog
  • Min of Mines
  • Study for Exploration of Rare Earth Element
  • Mines and Minerals (Development and Regulation) Bill
  • Min of New and Renewable Energy
  • Balance of Trade in North-Eastern Region
  • Min of Overseas Indian Affairs
  • Rehabilitation Package for Migrant Indians
  • Emigration Fee
  • Min of Personnel, Public Grievances & Pensions
  • Public Grievance
  • Procedure for Communication
  • Representation of OBC/SC/ST in Higher Officer
  • Amending Rules for Safeguarding Women
  • Appointment of SPG Director
  • Min of Petroleum & Natural Gas
  • Increasing CNG Filling Stations in Delhi
  • Setting Up of Refinery in Rajasthan
  • LPG Connections in Rural Areas
  • Digitization of Files and Data
  • Global crude oil price of Indian Basket was US$ 76.91 per bbl on 25.11.2014
  • Ministry of Railways
  • Railways to Run Six Special Trains to Clear Extra Rush for Mahaparinibban Divas
  • Min of Science & Technology
  • Academy of Scientific and Innovative Research
  • Extension in Retirement Age of Scientists
  • Environment Friendly Technologies
  • Min of Shipping
  • Workshop on Integrated National Waterways Transportation Grid Inaugurated
  • New Mechanism of Collection of Light Dues for Container Ships
  • Min of Social Justice & Empowerment
  • Development of Persons with Disabilities
  • Benefits to Disabled
  • Development of Persons with Disabilities
  • Ramp Facility for Physically Challenged
  • Data on Mentally Retarded Persons
  • Min of Steel
  • Measures to Increase Steel Production
  • Mines Allotted to KIOCL in Karnataka
  • Min of Tribal Affairs
  • Jual Oram inaugurates Tribal Art and Crafts Mela Aadishilp
  • Min of Urban Development
  • Shri M.Venkaiah Naidu approves enhancement of Ground Coverage and FAR in Delhi
  • DMRC’s Revenues Exceed Budget Targets
  • Ministry of Water Resources
  • Uma Bharti will Review the Working of her Ministry on Weekly Basis
  • Min of Skill Development, Entrepreneurship, Youth Affairs and Sports
  • Text of Speech of Sarbanand Sonowal
  • Boxer Sarita Devi issue Discussed
  • Sarbananda Sonowal confers Arjuna Award 2014 to Boxer Manoj Kumar

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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