Smart card technology can be used to streamline India's unwieldy PDS. But it is yet to prove itself under real world challenges. Smart cards have become the latest buzzword to remedy India's public distribution system (PDS) — one of the largest food grain delivery networks in the world with more than 500,000 ‘ration' shops. Electronic voting machines have streamlined Indian elections. Credit cards, which can be swiped for payment at any...
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MasterCard Develops Payment Solution for ‘Aadhaar’ in India
MasterCard Worldwide, a leading global payments company, today said it has developed a payment solution for ‘Aadhaar’. ‘Aadhaar’ is a 12-digit Unique Identification Number (UID) that captures basic demographic and biometric information of Indian residents. The UID will make it possible for residents to establish their identity with financial institutions thereby providing them a gateway into the formal banking system. This payment solution will enable Aadhaar holders to perform payment...
More »Smart cards for NREGA, pension beneficiaries
As part of its financial outreach programme in tune with national priority, city-based private sector Karnataka Bank Limited is all set to launch KBL-Empower Biometric smart card at Babbur in Hiriyur taluk of Chitradurga district on Wednesday. P Jayarama Bhat, managing director of the Bank, will launch the card in the presence of Range Gowda, CEO, Chitradurga ZP who will distribute the card to the beneficiaries. With this, the bank is...
More »UID to bring banking to the poor by Karen Leigh
India’s plan to offer unique identity (UID) cards to all citizens will bring a range of banking services within reach of millions of poor who currently cannot even open a bank account, says a report released on Friday by the Unique Identification Authority of India (UIDAI), which is executing the project. Facilities such as microfinance are beyond the reach of many poor people in both towns and villages who do not...
More »Union Budget And Other Economic Policies
**page** [inside]KEY TRENDS of the Union Budget 2023-24[/inside] Budget 2023-24 is the last full budget before the general election scheduled for 2024. An analysis of the budget allocations suggests that the union government has squeezed expenditure, particularly on food subsidy and the NREGA budget, while boosting Capital expenditure and giving the middle class tax benefits. Social sector activists working on Right to Food, the National Rural Employment Guarantee Act (NREGA) came out with...
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