Maharashtra govt readying 'Maha wallet' to encourage cashless transactions
To mitigate the impact of demonetisation on the masses, the Maharashtra government is working on a 'Maha wallet' to encourage cashless transactions.
"I have told the Information Technology (IT) department to prepare a report (based on the proposal) in this regard and submit it to me in a fortnight," Finance Minister Sudhir Mungantiwar told PTI.
"Maha wallet will be a secure e-service where the citizens' money would be secure. We are working on a system where needs of each of the 11.97 crore population of the state are being considered," the Minister said.
The IT department proposal will consider various facets like the needs of people who are well versed in net banking and those who are not, smartphone or feature phone users, and those without a mobile, besides the technologically challenged.
Meanwhile, the minister tweeted on December 1 as saying, "Working on Hon' Shri. @narendramodi ji's dream, will make all efforts to create Maharashtra the first cashless State of the country."
Working on Hon' Shri. @narendramodi ji's dream, will make all efforts to create Maharashtra the first cashless State of the country. pic.twitter.com/mHV85H3RE2
— Sudhir Mungantiwar (@SMungantiwar) December 1, 2016
ALSO READ: India abolishes larger banknotes in fight against graft, 'black money'
"Swiped my debit card to purchase the famous 'Murbad Rice' in Dhasai village today 'India's first cashless village'. #DreamMaharashtra," he tweeted.
Swiped my debit card to purchase the famous 'Murbad Rice' in Dhasai village today 'India's first cashless village'. #DreamMaharashtra pic.twitter.com/KCXIYQFnhn
— Sudhir Mungantiwar (@SMungantiwar) December 1, 2016
"We want to ensure that the system is modelled to help small vendors, farmers and all those who deal in cash transactions," he said.
Similarly, the proposal will also highlight the amount to be deposited in the Maha wallet by users. It will also work on finding out how many citizens have bank accounts and how many use debit and credit cards.
"Efforts are on to make a less cash society since being cashless is difficult. We want to create a system where citizens will be required to carry less cash with them," Mungantiwar said.
He said that after the proposal is received, the matter will be taken up with Chief Minister Devendra Fadnavis for further action.
Fadnavis, who is member of the committee appointed by the Centre on promotion of cashless society, had pointed out during a recent meeting with the panel members that needs of farmers, labourers from unorganised sector and small vendors should be considered first.
ALSO READ: Demonetisation: PM Modi asks ministries, departments to go cashless
Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.
RECOMMENDED STORIES
Retirement Planning: SIP+SWP combination; Rs 15,000 monthly SIP for 25 years and then Rs 1,52,000 monthly income for 30 years
Top Gold ETF vs Top Large Cap Mutual Fund 10-year Return Calculator: Which has given higher return on Rs 11 lakh investment; see calculations
Retirement Calculator: 40 years of age, Rs 50,000 monthly expenses; what should be retirement corpus and monthly investment
SBI 444-day FD vs Union Bank of India 333-day FD: Know maturity amount on Rs 4 lakh and Rs 8 lakh investments for general and senior citizens
EPF vs SIP vs PPF Calculator: Rs 12,000 monthly investment for 30 years; which can create highest retirement corpus
Home loan EMI vs Mutual Fund SIP Calculator: Rs 70 lakh home loan EMI for 20 years or SIP equal to EMI for 10 years; which can be easier route to buy home; know maths
12:42 PM IST