Average daily Aadhaar-enabled transactions double; Rs 16,101 cr disbursed during lockdown: FinMin

New Delhi: Average daily transactions through the Aadhaar-enabled payment system (AePS) has doubled to Rs 113 crore on account of various direct benefit transfer schemes announced by the government during the coronavirus-induced lockdown.

As many as 43 crore transactions leading to disbursement of Rs 16,101 crore took place during the lockdown period, the finance ministry said in a tweet on Monday.

AePS is a bank-led model that allows online interoperable financial transactions at points of sale or micro ATMs through the business correspondents (BC) or Bank Mitras of any bank using the Aadhaar authentication.

With the help of this system, doorstep delivery of cash can take place through BCs.

To contain the spread of coronavirus, the government first imposed a 21-day nationwide lockdown beginning 25 March and later extended it till 3 May. Now, it has further extended the lockdown by two more weeks till 17 May with extensive relaxations, including opening of industries in lower-risk green and orange zones.

The nationwide lockdown shut businesses, stopped air and rail travel and restricted movement of people and goods.




Read the Rest at FIRSTPOST

Leave a Reply

Your email address will not be published. Required fields are marked *