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eMoney News

eMoney solutions come to Indian villages
4 Jun 2010

eMoney solutions have been introduced to remote Indian villages to ensure those in receipt of state benefits receive their full entitlement. 

Wages will now be paid to rural workers via a smart card which will dramatically increase the speed in which residents can access their funds, as well as reducing the potential for fraud. 

Purvanchal Gramin Bank has hired Financial Information Network and Operations (FINO), a not-for-profit company in Mumbai, to issue the smart cards. 

Praful Kumar Srivastava, smart card co-ordinator at the bank, stated that a smart card account will be opened in every village throughout the area. 

He said: "After opening the account, we will make their payment at the doorstep so that the labourers, farmers, widows, disabled and aged persons get the help provided to them by the government at their doorstep." 

The scheme was introduced to assist those enrolled in the Mahatma Gandhi National Rural Employment Guarantee Act (MNREGA), which guarantees at least 100 days paid employment per financial year.