You can soon make govt payments via mwallets

1. You Can Soon Make Govt
Payments Via Mwallets
MOBILE SEVA As part of cashless economy push, Centre to create a
framework for payments -inter-ministerial, vendor transactions or
payments for govt services -to be made electronically

2. Contd…
Feeling hassled about making a paltry payment of ` . 10 or . 5 through net
banking or a credit ` card for a government service?
Fret not -such transactions can soon be done through mobile wallets such as
Paytm and Mobikwik. The government is creating a framework for all
financial payments -inter-ministerial, vendor transactions or small payments
by citizens for government services -to be made electronically. This is part of
a larger initiative by the Modi government for a cashless, or less cash,
economy.
The Department of Electronics and IT (DeitY) is spearheading the project,
which is on its way to become a major leg of the govern ment's marquee
Digital India campaign that is aimed at all-round digitisation in the country.
Currently, most government payments and receipts are made by cash or
cheque, said a senior official aware of the project called `epayment'.

3. Contd…
“Our endeavour through this project is to ensure that at least 90%, if not more, of
all government payments happen through some or the other electronic mode, be it
through credit card, RTGS, DBT or mobile,“ said the official.RTGS is a real-time fund
transfer system between banks, while DBT refers to direct benefit transfer, a
scheme to deposit subsidy in the bank accounts of beneficiaries.
The target is to ensure that every department gives out some kind of an e-receipt
by December 2016.
“Even mobile wallets can be con sidered for small payments,“ the person added. A
report of a Task Force on Aadhaar-Enabled Unified Payment Infrastructure released
in 2012 said that studies have estimated that the cost of cash transactions is
equivalent to 5-7% of GDP and this can be reduced by onethird through the use of
retail electronic payments.“Initially, a lessneeds to be follo cash approach needs to
be followed rather than going for a cashless approach,“ the report said.

4. Contd…
While the government's overall subsidy burden exceeds ` . 3 lakh crore each year,
remittances are estimated to be an additional ` .1 lakh crore, the report said.
Though there are no estimates of the extent of cash circulating within the
government machinery, the figure is expected to be a high percentage of the GDP.
The report recommended that all payments above ` . 1,000 by the government and
government institutions should be made electronically. It said the savings due to
reduced cash management would balance out the cost of processing electronic
transactions.
The official said while several public utilities such as state-owned telephone and
power utilities accept epayments by citizens, most departments don't have the
basic application or technology to accept payments through the Internet. In order
to save effort and expenditure by each ministry, DeitY is developing a common
application with basic payments features that can be adopted initially.

5. For details and bookings contact:-
Parveen Kumar Chadha… THINK TANK
(Founder and C.E.O of Saxbee Consultants & Other-Mother
marketingandcommunicationconsultants.com)
Email :-saxbeeconsultants@gmail.com
Mobile No. +91-9818308353
Address:-First Floor G-20(A), Kirti Nagar, New Delhi India Postal Code-110015