State’s breakthrough technology to be placed before CMs’ panel

With successful implementation of making Aadhaar-enabled payments system (AEPS) though Android mobile phones in the city, Chief Minister N. Chandrababu Naidu has vowed to take it to the national level. “The idea will be placed before 13-member panel of Chief Ministers, which I am heading, in the meeting scheduled on December 28,” he said.

“I shall prevail upon the Central government to replicate the same technology to promote cashless transactions,” he said, addressing 197th State Level Bankers’ Committee meeting here on Friday.

Mr. Naidu said the government could achieve the breakthrough in a month and found an easy solution to promote digital payments. AadhaarPay is a hassle-free option wherein a consumer could just transfer money to the trader by just a thumb impression. The trader needs only a smart phone and a biometric reader to receive digital payments from the customers, he explained.

Even RuPay cards were not required if the smart phone based transactions were encouraged, he said, adding, the bankers were requested to extend their cooperation to encourage mobile transactions.

Mr. Naidu, however, was quick to add that complete cashless society was not possible. Even developed nations were still using the physical currency. Cashless transactions were a solution to check illegal activities, he said.

Long queues and deaths

Reiterating that demonetization was the biggest crisis he faced in his life, Mr. Naidu said the people were facing a lot of hardship owing to currency crunch. The bankers should have handled the crisis in a better way. The people too have a “psychological problem” in not using technology. “The aged people are unable to stand in long queues. Some have collapsed and some have died in queues. It is very pathetic,” he said. The government could not distribute welfare pensions completely due to the rules framed after demonetization. To avoid inconvenience to senior citizens, the government would distribute the pensions at their doorstep from January, he said. Special Chief Secretary (Finance) Ajeya Kallam; SLBC AP president and Andhra Bank Managing Director and CEO Suresh N. Patel; RBI Regional Director R. Subramanian; General Manager S. Subbaiah; SLBC Convener K. Ranganath; and Nabard CGM V.V. Satyanarayana were present.