The following points are of great interest
to Safe ePayments Motivators.
In the medium run, these new
initiatives announced by Mr.P.Chidambaram, Finance Minister, will encourage
Indian industry and bank customers to adopt more and more ePayments modes in
their daily routine.
01)
11
lakh beneficiaries have received benefit under Direct Benefit Transfer scheme. Direct
Benefit Transfer (DBT) Scheme to be rolled out throughout the country
during the term of UPA Government: - The more beneficiaries experience the joy
of Safe ePayments, the more they will spread the word of Safe ePayments.
02)Rs 532 crore to make post offices part of
core banking: - At present, Post Office Saving Bank is not part of electronic
payment channels viz ATMs,NEFT,RTGS,IMPS etc. The core banking solution is the
first step to integrate Post Office Saving Bank into mainstream eBanking
Channel.
03)Tax
credit of Rs. 2,000
for income upto Rs. 5 lakh: - This will encourage people to file their
tax-returns irrespective of whether their tax liability. This is a step to
ensure more and more countrymen obtain PAN.
04)First home loan from a bank or housing
finance corporation upto Rs. 25 lakh entitled to additional deduction of
interest upto Rs. 1 lakh: The disbursements to real-industry should be via
eMode only.
05)Insurance companies can now open branches
in Tier 2 cities and below without prior approval. All towns of India with a
population of 10000 or more will have an LIC branch and one other public sector
insurance company:- All Insurance companies have adopted ePayments in their
daily routine. The above initiative will deepen the reach of ePayments.
06)All public-sector banks have assured the
Finance Minister that they will all have ATMs in their branch areas by 2014.
07)India's first women's bank as a PSU
proposed, Rs. 1,000 crore working capital announced
08)The country has moved a step towards
uniform know-your-customer (KYC) norms for different investments. The Union
Budget has proposed the use of bank KYC for buying insurance as well. This will
make the process for purchase of insurance simpler
