(a) whether the Reserve Bank of India (RBI) proposes to include rural villages into
the fold of electronic payment system;
(b) if so, the details thereof, State/UT-wise including Andhra Pradesh; and
(c) the time by which it is likely to be implemented?
The Minister of State in the Ministry of Finance (Shri Namo Narain Meena)
(a) to (c):- Reserve Bank of India (RBI) has been facilitating the use of electronic payment
products as a move towards less cash economy by issuing guidelines on Real Time Gross
Settlement (RTGS), National Electronic Funds Transfer (NEFT) and National Electronic Clearing
Services (NECS), other payment systems such as Card Payments, Prepaid Payment Instruments
etc., which can be used by the people in smaller towns and villages across the country
including in Andhra Pradesh.
In addition, recognizing the importance of mobile phones as a medium for providing banking
services in the entire country, the RBI has issued operating guidelines to banks for mobile
banking transactions. The mobile banking services can also be provided by banks in the
villages and small towns due to their ubiquitous nature. The RBI has authorized 77 banks
(including private sector banks) to offer mobile banking services and 53 banks have already
commenced mobile banking.
The National Payments Corporation of India(NPCI) also offers National Unified USSD Platform
(NUP) that allows mobile banking services through USSD channel, through uniform number 99#.