Nabard for card swipe machine in District.
The National Agriculture and Rural Development Bank (Nabard) is all set to introduce card swipe machines in the district. These will not only make villages go cashless but also save villagers a lot of time as they can do their banking work at their doorstep through business correspondents. In this connection, Nabard has asked banking institutions and other nodal agencies to provide data on villages which have more than 10,000 people. The business correspondents of nationalized banks will carry the swipe machines and customers can use their debit and Kisan Credit Card to withdraw the amount stipulated by the RBI. As the data on such villages is available now, Nabard has not decided how many swipe machines are needed for the initial phase. The demonetization drive and consequent currency crunch has badly affected the rural economy where cash transactions play a dominant role. District Nabard development officers Aditya Mavinakurve said the move to introduce swipe machines has been implemented in the district but the bank doesn’t have specific information on how many the district needs now. The two machines available for each village would be used only for withdrawal and depositing cash, and the movement of the business correspondents who carry these machines would be monitored by GPRS. District lead Bank (Syndicate Bank) manager P. Nagaraju said, “The demand for swipe machine is incensing. So far, 250 applications are pending with different Banks.”