Showing posts with label kisan debit card. Show all posts
Showing posts with label kisan debit card. Show all posts

Saturday, February 18, 2017

Rs 27,000 crore saved under Direct Benefit Transfer scheme since November 9

Union Minister, RuPay, Haryana, Haryana Education Minister, DBT

Since digital transactions took off rapidly from November 9, 2016, Rs 27,000 crore has so far been saved under the Direct Benefit Transfer scheme, this was informed at an event held at Panchkula today.
Also, about 35 per cent people have taken to debit card, RuPay card and e-wallet services for making payments in Haryana.
This was disclosed in the presence of the Union Minister of State for Social Justice and Empowerment, Krishan Pal Gujjar, and the Haryana Education Minister, Ram Bilas Sharma, at the inaugural function of the ‘Digi Dhan Mela’ and ‘Basant Utsav’, at Panchkula, near here, today, a Haryana government statement said here.
Speaking on the occasion, Gujjar said that 100 Digi Dhan Melas were being organised in the country to encourage people to adopt cashless transaction system for making payments.
So far, 56 such melas have been held. This is the third such mela in Haryana after Gurugram and Sonipat.
Gujjar urged the people to make digital transactions to realise the dream of Prime Minister Narendra Modi, and also encourage others to adopt this system.
The main aim of Digi Dhan Mela is to give people message of ‘Mera Mobile-Mera Bank-Mera Batua’, he added.
Speaking on the occasion, Ram Bilas Sharma thanked Arjuna awardee Sanjay Phogat, international shooter, Gauri Sheoran, and Kings XI Punjab (IPL) player, Manan Vohra, and others for attending the mela and expressed hope that such events would inspire people to adopt digital payment methods.
Vice-Chairman, National Payments Corporation of India, Pushpendra Singh, and Deputy Director, NITI Aayog, Sukhdeep Kaur, gave detailed information about various digital schemes.

Sunday, January 22, 2017

Centre pushes for fingerprint money transactions through Aadhaar Pay

Keen to push digital payments among the poor and illiterate in rural areas of the country, the government is pushing to popularise Aadhaar Pay which ensures financial transactions by just using fingerprint.

Aadhaar Pay, which is merchant version of the already in use Aadhaar-enabled payment system (AEPS), will become an alternative for all online and card transactions which require password and PIN.

The app facilitates merchants to take cashless payments from a customer who is only required to give his Aadhaar number, name of the bank (from where the money is to be deducted) and finger print for authentication. Unique Identification Authority of India (UIDAI) CEO AB Pandey said Aadhaar Pay works on any android-based phone, even a low cost one, with an attached finger biometric device.

"This ensures digital transactions which are cardless, PINless... There is no need of smartphone for the customers," he added. In order to popularise the use of Aadhaar Pay among merchants, the government has asked banks to enrol 30-40 merchants per branch so that they are able to take cashless payments from customers.

At present five banks — Andhra Bank, IDFC Bank, IndusInd Bank, State Bank of India and Syndicate Bank — have gone live over Aadhaar Pay and several banks are in the process of launching pilots on the app.

A senior official said the plan is to identify Aadhaar Pay transactions separately and to incentivise merchants for long-term sustainability and scalability of the system. As it needs a biometric device costing about Rs 2,000, the government is also working on an incentive model so that cost of the device is amortised over time and the merchants are encouraged to use it.

Rejecting security concerns over AEPS, the UIDAI CEO said transactions using Aadhaar Pay are much more secure than any other digital mode of transaction, both in terms of technology and process. Besides the merchant using the app being enrolled in the bank and the customer's bank account linked to Aadhaar, he said the biometric data get encrypted leaving little scope for any misuse. 

"Fingerprints can't be copied as it get encrypted. Even if any merchant or customer tries to misuse the fingerprints, he will be caught immediately as the location of merchants using the app is known to the bank," he explained.

The AEPS platform, launched in December 2012, enabled people to carry out banking transactions over hand-held devices (micro ATM) using the Aadhaar number and fingerprints. The Andhra Pradesh government has launched cashless payments at most of the fair price shops (FPS) and Gujarat, in partnership with CSC e-governance, has launched cashless payments using AEPS platform at over 3,000 fair price shops.

Sunday, April 5, 2015

UP: Co-op societies get Rupay Kisan Card

kisan credit card

Nabard’s UP chief general manager has launched ‘ Rupay Kisan Card’ at the head office of district cooperative bank in Pilibhit. The new computerised banking system will enable about a hundred thousand farmers.

Farmers with bank accounts can now deposit or withdraw or carry out any transactions with nationalized banks across the country. The Times of India report quotes Nabard sources as saying the new plan would not only boost transparency in banking activities but also check illegal transactions.

Sources say Nabard would provide cooperative bank and cooperative societies with 90 percent of the total cost of the plan in the form of a grant-in-aid. The plan is estimated to cost about Rs 1 crore.
Nearly 76 cooperative societies operating in the district would be equipped with micro computer devices fitted with the core banking solutions, sources add.

Cooperators seem upbeat about the consequences of the new plan as they are confident this would end a delayed cumbersome system based on manual labour.

Monday, February 2, 2015

Uttar Pradesh farmers to get 4.2 mn RuPay credit cards

and (RRB) would issue over 4.2 million Kisan Credit Cards (RuPay KCC) to farmers across the state.

National Bank for Agriculture and Rural Development (NABARD) has sanctioned Rs 30 crore to these financial institutions for the purpose.

RuPay KCC is a smart card used by farmers at automated teller machines (ATM) or point of sales (PoS) machines, where it could be swiped for withdrawing cash or making payments. It does away with the necessity of visiting Primary Agriculture Cooperative Societies (PACS) or bank to operate the account.

Under the project, has extended support of Rs 19 crore and Rs 11 crore respectively to all seven RRBs and 15 cooperative banks operating in the state.

To ensure doorstep delivery of banking services to farmers, NABARD has also supported these financial institutions to deploy over 11,000 micro-ATMs/PoS machines at all their branches.

Recently, NABARD UP region chief general manager K K Gupta had convened a meeting to review progress made under the scheme. Advising banks to improve implementation of the project, he said NABARD would provide assistance of Rs 5 crore to cooperative banks in setting up over 100 ATMs in rural areas and utilising PACS as their Deposit Mobilising Agents.

NABARD support for technology adoption in cooperative banks and RRBs would benefit not only farmers, but also rural populace in general, who have opened accounts under Pradhan Mantri (PMJDY).

Besides, NABARD has supported cooperative banks and RRBs to set up 189 financial literacy centres in rural areas of UP with grant of over Rs 8 crore for disseminating information and creating awareness on various financial products and services.

Monday, July 28, 2014

Nabard launches RuPay Kisan cards

National Bank for Agriculture and Rural Development (Nabard) today rolled out RuPay Kisan Card and RuPay Debit Card here today.

National Bank for Agriculture and Rural Development (Nabard) today rolled out RuPay Kisan Card and RuPay Debit Card here today.

"This is the first time that RuPay Card, which is in the nature of ATM cum Debit Card, is being issued by any cooperative bank in the state of Haryana," said Nabard Chief General Manager (Haryana) D V Deshpande.

He said the issue of RuPay cards by cooperative banks will enable them to improve their customer service and bring it on par with any other bank to farmers and other customers.

Meanwhile, Haryana Chief Minister Bhupinder Singh Hooda asked Nabard to increase the refinance given to cooperative banks from 50 per cent to 75 per cent.

Speaking on the occasion of its 33rd Foundation Day here today, Hooda said reducing groundwater level and shrinkage of fertile land posed big challenges which could be met by promoting piped and drip irrigation, constructing green houses, promoting dairy and techniques of vertical farming.
Hooda asked Nabard to work at the micro level for the expansion of these techniques and said it should provide finance for setting up water bodies in the state.

He said while Kisan Clubs have been set up in all sub-divisions of the state, there is a need to set up Kisan Clubs in all villages.

"Nabard should extend a helping hand in doing so. These clubs would act as a bridge between NGOs, self-help groups, farmer groups," he added.

Friday, June 20, 2014

Rupay Kisan Credit Card Scheme to start from July 12

 REPRESENTATIVE IMAGE: As per the RBI guidelines, farmers across the country are to be issued credit cards to boost paperless cash credit system by March 2015. 

CHANDIGARH: Farmers across the states for the first time will get facility of credit cards by the end of financial year in the country. The RBI mandated scheme is targeted to provide ease of transaction through credit cards to farmers instead of prevailing cheque based Kisan Credit Cards.

The NABARD funded program is being undertaken by National Payment Corporation of India. As per the RBI guidelines, farmers across the country are to be issued credit cards to boost paperless cash credit system by March 2015. The initiative is part of the modernization bid of cooperative banks to aid them tackle competition from the commercial banks.

"Axis Bank will be sponsor bank to issue credit cards to farmers in Haryana covered by the Central Cooperative Banks," managing director, HARCO State Cooperative Apex Bank, Naresh Chaudhry said.

In Haryana the new scheme known as 'Rupay KCC Card' will be launched from Ambala on July 12 on the occasion of foundation day of National Bank for Agriculture and Rural Development (NABARD). This State wide scheme will be launched from Cooperative Bank of Ambala

As per the scheme, farmers covered under Primary Agriculture Co-operative Societies will get facility of credit cards for paperless loans for crops and other needs. Under the scheme, the loans will incur interest of 7 per cent up to the limit fixed under the Kisan Credit Card scheme. At present crop loans up to 3 three lakh are provided to farmers under Kisan Credit Card Scheme. "In Haryana farmers are provided interest subvention of three per cent in case of timely payment," CEO, Amabala Central Cooperative Bank Gurpreet Kaur said.

"It will reduce transaction cost of banks and also provide ease of credit transactions to farmers," says CEO, Gurgaon Central Cooperative Bank, Ved Parkash Yadav.

Cooperative banks in the country are burdened by rising Non Performing Assets and credit cards are suspected to further deteriorate the asset quality of the banks. " Ease of credit will encourage farmers to pay back loans on time," says Yadav.The scheme could provide new lease of life to cooperative banks that are losing ground to commercial banks. "Crop loans is mainstay of business of cooperative banks unlike commercial banks," says Yadav.

Thursday, March 20, 2014

Co-op bank gives debit card power - Rupay Card

AHMEDABAD: The Kalupur Commercial Co-Operative Bank Limited (Kalupur Bank) on Wednesday became the first co-operative bank in Gujarat to launch RuPay debit cum ATM card for its customers. And by June, as many as 18 district co-operative banks will give RuPay debit card to over 1.3 crore customers in the state, giving them direct access to 1.6 lakh ATM centres and 8.75 lakh point of sale (POS) terminals (machines used by merchants in shops and malls to accept payment through cards).

RuPay is an Indian domestic card conceived by National Payments Corporation of India (NPCI) and was launched in March 2012. Of the 175 co-operative banks in the state, 22 banks, including six scheduled co-operative banks, provide RuPay card to their customers.

Earlier, the banks issued RuPay card which enabled customers to make only ATM transactions while the new RuPay debit card will help customers to do shopping and also carry out online transactions. NPCI is in talks with e-commerce companies to include RuPay card in their payment options.

"We already have 54,000 customers who use RuPay card. Through RuPay card, we expect to cover one lakh customers," said V G Dadlani, general manager and CEO, Kalupur Bank.

The cost of using RuPay card is also low. "The cost is one-third in comparison to that of international debit cards. For every transaction through RuPay card, banks have to pay 90 paise irrespective of the amount while the cost for transactions through international cards comes at Rs 3 on average," said A P Hota, managing director and CEO, NPCI.

RuPay debit cards aim at financial inclusion of more people. "Over 1.3 crore customers of 18 district co-operative banks will join the national financial switch through RuPay debit card by June," said Ajay Patel, chairman, Gujarat State Co-op Bank Ltd.

National Bank for Rural and Agriculture Development (NABARD) will provide technology for RuPay cards at subsidized rates. NABARD will also connect the co-operative banks with core banking solutions (CBS) with the help of Tata Consultancy Services.

"Many co-operative banks have begun the process of providing services like RTGS, NEFT and internet banking to customers. The rest of the banks will get it in next 2-3 months. Also, all Kisan Credit card (KCC) holders will be given RuPay cards," added Patel.

Friday, October 4, 2013

Vijaya Bank - Rupay KC FI Guidelines

Rupay KC FI Guidelines  

Guidelines for ATM enabled Kisan Debit Card
  1. The ATM enabled Kisan Debit card is issued to the customers having Vijaya Kisan Card account at your branch (CBS) and is linked to VKC account of the customer.
  2. The ATM enabled Kisan Debit Card  is specially designed non photo card launched in association with Rupay a Domestic payment branch promoted by NPCI
  3. The card is issued free of charge and is valid for 10 years
  4. The cardholder can withdraw cash from all the ATMs of our bank and other bank’s Rupay Branded ATMs.
  5. The Kisan Debit card also can be used at merchants for the purchase of items required for agriculture activity only*.   To restrict the use of Kisan Debit card for agriculture purpose, an undertaking letter is to be obtained from the VKC customer applying for Kisan Card. A Performa of the undertaking letter is enclosed herewith.
  6. The existing limits of Debit Card for cash withdrawal at ATMs ,Merchant transactions and number of financial transactions are applicable in case of Kisan Debit card also subject to not exceeding the drawing power/seasonal sub limits fixed for VKC a/c of the cardholder. 
ATM cash withdrawal limit per day
Rs 30,000/-
Merchant transaction limit per day
Rs 25,000/-
No of transactions per day (financial)
  • The drawing power for the Kisan card account will have to be fixed by the branch depending upon the crops cultivated, area under cultivation and scale of finance. The guidelines for opening and maintaining drawing power on Kisan Card account has been framed by the HO – credit priority by way of circulars has to be complied with.
Card Fee
Fresh card issuance
Hotlisting of the card
Rs 50/-
Card replacement
Rs 100/-
PIN regeneration
Rs 25/- per request
Cancellation charges (Applicable if cancelled in the   first card year)
Rs 100/-  
 *Applicable S. T Extra

Transaction charges
Vijaya Bank’s ATM cash withdrawal & balance Enquiry/mini statement/ PIN change
Other bank’s Rupay  ATMs*   
Balance Enquiry

Rs  20/- per transaction
Rs    8/- per enquiry

  • Applicable S. T Extra. (Since the Accounts are treated as Current Accounts in
Nature, no exemption from charges is eligible for kisan debit cards for using other bank ATMs.)
Other Charges
Charges for request for copy of chargeslip  *
  • for transactions at our merchants
  • for transactions at other banks merchants

Rs 100/-
Actuals with a minimum of Rs 100/-

    *Initially Rupay cards are enabled for ATM Usage only till a separate communication on enabling the card for POS transactions is issued.
  • For the issue of ATM enabled Kisan Debit card, an application is to be obtained from the VKC customer. The existing Debit card application.  may be used for this purpose. In the Debit Card application ‘Application for Vijaya Global Debit cum ATM card’ may be modified as ‘Application for Kisan Debit Card’, with due authentication from the customer. The original application obtained should be retained with the branch only.
  • For sending the data to Debit Card Cell, the same procedure as applicable in case of Debit Card is to be followed. Since Rupay Kisan Debit card is a non -photo card, branches has  to mark Y in freetext6 field of the VKC A/c of the applicant.
  •  As in the case of Debit Cards, the Kisan cards will be sent to the branch & & PIN mailers to customer address through separate couriers.
  • As soon as the Kisan Card & PIN mailers are received at the branch, the same have to be entered in the Debit Card & PIN Mailer Issued Register. Some pages of the existing Register may be used for Kisan Cards. 
  • Before delivery of Kisan Card to the customer, the card is to be activated by marking E (replacing Y) in the VKC a/c of the customer and authorizing the same.
  • Since the ATM enabled Kisan Debit Cards are issued with Debit Card PIN, the rules and regulations on Debit Card are applicable to Rupay Kisan Card also. The guidelines on issuance of debit cards as per HOC 29/2008 dated September 2, 2005 and 35/2006 dated February 20, 2006 as applicable to Kisan card should be strictly complied with. 
Dispute Resolution
As the transactions are debited ONLINE, any dispute relating to a transaction should be reported by the cardholder in writing to the branch/Credit Card Division, HO, and Bangalore within 30 days from the date of transaction. Terms of HOC 263/2011 will be prevailing on handling the disputes received at the branches in this regard.