Jammu: Chief Minister Mehbooba Mufti on Tuesday launched the mobile app and AEPS (Aadhaar Enabled Payment System) of Jammu & Kashmir Bank.
The mobile application has been specifically designed to cater to the needs of the customers of the state.
The inauguration was part of the ‘Digi Dhan Mela’ held here.
Digi Dhan is an initiative of the Central government which enables direct interface between consumers and merchants to undertake real time digital transactions through the Digi Dhan Bazaar.
The Chief Minister also gave away awards to several individuals and officials who have done pioneering work in spreading awareness about cashless and digital transactions.
Speaking on the occasion, Dr Jitendra Singh, Union Minister in PMO emphasised the need of digitisation in the country for easy transfer of money. Digitization will pave way for a new revolution in which paper currency will be replaced by digital transactions thus proving beneficial to curb black money, he added.
Dr. Jitendra, further informed that the Union Government is contemplating to merge Jan Dhan, Aadhar and Smart Phones for boosting the economy of the country and for the easy transfer of money. In a few years, he added, the mindset of the common masses would have a drastic change to adopt the digital technologies.
Earlier, state Finance Minister Haseeb Drabu and Minister for IT, Imran Raza Ansari inaugurated the Digi Dhan Mela and termed less cash economy a way forward towards curbing corruption and black money which will boost economic growth.
Speaking on the sidelines of the event, Drabu said the state government is looking to make less cash economy a successful enterprise in the state and it will definitely encourage mobile banking.
The minister further said the state government is contemplating to digitise daily transactions so that they are carried out in an efficient and transparent manner.
Imran Raza Ansari said digital transactions will definitely help in infusing more transparency and accountability in the state.
He also said the essence of cashless economy is that even small vendors make use of digital payments and present their mobile records to borrow money from banks.
[Copyright by STATE TIMES NEWS]