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Over 1.48 cr debit card transactions in State in past 9 months

| | Naya Raipur | in Raipur

The transaction using debit cards during the past nine months stood at more than 1.48 crore in Chhattisgarh, senior banking officials informed at the State Level Bankers Committee (SLBC) meeting held in the Mantralaya chaired by Additional Chief Secretary Ajay Singh here on Wednesday.

 Internet banking was used by 16.79 lakh persons , mobile banking (9.09 lakh), credit cards 96,000 and POS  (36,000), it was informed.

A total of 107 digital literacy camps have been held at villages and panchayats during the past five months and 23,500 citizens have been made digital literates. This is a kind of digital push.

There were detailed reviews of the loans and subsidies proposals of each bank and each district regarding the various projects of the State Government and Union Government.

The meeting held discussion regarding the progress of seeding of Aadhaar numbers and mobile numbers to bank accounts, digital payments and opening of new bank branches in rural regions and progress on opening of ATMs.

Additional Chief Secretary  Ajay Singh directed the bank officers to settle the disputes regarding the Prime Minister Crop Insurance Scheme as early as possible and make efforts to double the incomes of farmers.

SLBC Co-Ordinator and Deputy General Manager (DGM) State Bank of India  Brahma Singh gave a detailed presentation of the decisions implemented after the previous meeting.

He said that the Union Finance Ministry had instructed the bankers to link all the bank accounts to Adhaar Numbers and mobile numbers before 31st March 2018.

Notably, Chhattisgarh is among two other states which seem to be doing better than average regarding number of people living near banks compared to some other states, the Economic Survey 2016-17 report has mentioned.

 In year 2015 in a majority of states, people are 3-5 km away from any form of access point (bank branches, ATMs and Banking Correspondents, it stated.

Madhya Pradesh and Rajasthan have persons travelling over 5 km to access formal financial services.

Surprisingly, the relatively poorer States of UP and Bihar (in addition to Chhattisgarh) seem to be doing better than average – with people living closer to the banks. This could merely be a function of high population density, it observed.

Financial inclusion in India has progressed substantially since the launch of Pradhan Mantri Jan Dhan Yojana (PMJDY), the report mentioned.

Geographically, most of the country has over 50 percent of adults owning banking accounts with Madhya Pradesh, Chhattisgarh, Bihar and some Northeast states doing less well. In terms of active use, though, most states perform less well with a majority of them having less than 50 percent active accounts.

Digging a little deeper, active use is higher amongst males, in urban areas and for those above the poverty line. We look at two constraints to active use: one, physical distance separating people from these bank branches; two, number of persons per bank, it stated.

Currently, as per official records, there are 26.5 crore Jan Dhan accounts (21 percent of the population) across the country. The per capita density of these accounts is relatively high in many of the poorer States and Chhattisgarh has the highest penetration.

Of the 26.5 crore Jan Dhan accounts, 57 percent are Aadhaar seeded (for Aadhaar seeded accounts per capita).

  While Aadhaar coverage speed has been exemplary, with over a billion Aadhaar cards being distributed, some states report authentication failures: estimates include49 percent failure rates for Jharkhand, 6 percent for Gujarat, 5 percent for Krishna District in Andhra Pradesh and 37 percent for Rajasthan 41.

 Failure to identify genuine beneficiaries results in exclusion errors,it mentioned.

Another problem is leakages – while there exists, in the Indian context, rigorous evidence supporting universalization of in kind transfers to reduce leakages, it is not clear if a universal cash transfer will necessarily result in lower leakages.

Many districts in Uttar Pradesh, Bihar, Chhattisgarh, parts of Jharkhand, eastern Maharashtra, Madhya Pradesh and Karnataka, among others, account for a large share of the poor and receive a less-than-equal share of resources, the report observed.

Some parts of Orissa and Rajasthan, on the other hand, comprise a large share of the poor, but receive more than-proportional share of the spending on top six schemes.




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