A complete credit and debit cycle is essential for DBT to be successful. The credit is to the Aadhaar seeded Bank accounts. Once the amount is credited, the debit i.e customer withdrawal too should be seamless. Otherwise the negative impact will result in a huge backlash.
The Ministry of Finance-Department of Financial Services officials are working overtime to strengthen the ‘withdrawal mechanism’,
Towards this end, vide F.No.6/77/2012-FI, PSBs and RRBs have been advised to ensure installation of Onsite ATMs in all Branches of PSBs / RRBs and also issue Debit Cards to all account holders in 51 districts selected under Pilot Direct Benefits Transfer.
In case the respective bank branches are unable to have Onsite ATMs due to they not being located on ground floor, or space constraints, ATM in close vicinity of branch should be installed.
The deadline for completion of the preparatory works is 31/01/2013. At the same time, account holders in these districts, particularly the beneficiaries under Direct Benefits Transfer, are to be issued ATM cum Debit Card on priority so that they can transact at the ATMs.
Trust the respective bank branches will take all necessary steps to minimize fraudulent transactions. This can be through customer education initiatives and also sensitizing the front-line staff to hand over the debit cards only to the account holders. Well, the account holders should cooperate and send their representatives to collect the debit cards or the Pin Numbers.
- Saral Money – Pilot launch in NCR (simplybanking.wordpress.com)
- Cash transfer scheme no magic wand: Ramesh (thehindu.com)
- ICICI Banking requires Debit Card for any online transactions… (gunnalag.wordpress.com)