e-Payment to be norm in Telangana by next FY

Hyderabad: Taking cue from the BJP-led government in Goa, which is set to enforce cashless transactions from December 31 this year, the TRS government is preparing the ground for introducing cashless e-Payment system across Telangana State by the start of the next financial year, involving all sections of people.

Following the Centre’s instructions to the State to go for e-Payment system and the letter received by Chief Secretary Rajiv Sharma from the Union Finance Ministry with regard to the implementation of cashless transactions, the State Finance Department has swung into action to open bank accounts for all unbanked sections of the people, including labourers, daily wage earners and agricultural workforce.

Towards this end, the Chief Minister has directed the District Collectors to conduct camps in all villages having heavy concentrations of workforce so that bank accounts can be opened for all by the end of December. According to officials, ever since PMJDY (Pradhan Manthri Jan Dhan Yojana) was launched, about 81.75 lakh accounts have been opened. Debit cards have been issued to 70 lakh account holders and Aadhaarseeding has been completed.

Once the working classes, including NREGP workers, get bank accounts, e-payments would become the norm.  Simultaneously, awareness would be created among the working classes for using debit cards for their daily needs.

Sources said that traders had been asked to adopt e-payment system in their daily activities.  The State Commercial Taxes Department has been entrusted with the task of overseeing the arrangements for the implementation of cashless transactions in daily business activities.

The use of smartphones in the payments ecosystem among all sections of people, particularly middle and upper middle classes in urban areas, and the adoption of new applications would be studied.  “On the directions of the Centre, the State is serious to bring e–payment system in all sectors from the first month of the next financial year–2017-18,” a senior official said.

This being so, Chief Minister K Chandrasekhar Rao has constituted  a five-member committee to work out the modalities for preparing a policy towards cashless e-payment system. The five-member committee comprises senior IAS officers Suresh Chanda,  Navin Mittal,  Jayesh Ranjan and Collectors  Raghunandan and  Surendra Mohan.

Principal Secretary to Chief Minister Santi Kumari would be in the committee representing CMO. The Committee will also prepare a job chart to enable the collectors to face any grave situation like the present one occasioned by demonetization and place it before the Cabinet.