{"id":31156,"date":"2018-10-27T12:23:46","date_gmt":"2018-10-27T06:53:46","guid":{"rendered":"https:\/\/blog.forumias.com\/?p=31156"},"modified":"2018-10-27T12:23:46","modified_gmt":"2018-10-27T06:53:46","slug":"punjab-to-install-micro-atms-in-co-op-institutions-across-the-state","status":"publish","type":"post","link":"https:\/\/forumias.com\/blog\/punjab-to-install-micro-atms-in-co-op-institutions-across-the-state\/","title":{"rendered":"Punjab to install micro ATMs in co-op institutions across the State"},"content":{"rendered":"<p><a href=\"http:\/\/www.thehindu.com\/todays-paper\/tp-national\/tp-otherstates\/punjab-to-install-micro-atms-in-co-op-institutions-across-the-state\/article22802342.ece\"><b>Punjab to install micro ATMs in co-op institutions across the State<\/b><\/a><\/p>\n<p><b>Context:<\/b><\/p>\n<ul>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">The Punjab government plans to install micro ATMs in all its 3,535 primary agricultural cooperative societies and district central cooperative banks under its rural financial inclusion plan.<\/span><\/li>\n<\/ul>\n<p><b>Introduction:<\/b><\/p>\n<ul>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">NABARD has accepted a proposal sent by the cooperative department to extend the digital transaction facilities to the rural populace and sanctioned 4,545 micro ATMs by financing 90% of the cost of the device.<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">The Punjab State Cooperative Bank was providing credit services to all sections of society since its establishment in 1949 and was now making great strides towards fulfilling the aspirations of its stakeholders, especially tillers and helping hands in all areas such as agriculture, housing, sugar production and dairy.<\/span><\/li>\n<\/ul>\n<p><b>Purpose:<\/b><\/p>\n<ul>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">To deliver effective core banking services at the village level.<\/span><\/li>\n<\/ul>\n<p><b>Benefits:<\/b><\/p>\n<ul>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">All transaction facilities like balance enquiry checking, cash deposit or withdrawal, fund transfer and remittance could be made through these hand-held devices.<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Farmers using other banks\u2019 ATMs for Kisan Credit Card purpose could use these micro ATMs at PACSs thereby saving inter-bank transactional costs to be paid to other banks.<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Customers could use any other bank\u2019s debit card at these locations and will no longer have to search for ATMs or travel long distances.<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">After implementation of these core banking facilities, farmers would be able to get fertilizers and seeds from the nearest PACS by swiping the KCC card at the micro ATMs.<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">These ATMs allow the PACSs and branches to connect to the bank\u2019s core banking solution to authenticate the customer via biometric or PIN on real-time basis.<\/span><\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>Punjab to install micro ATMs in co-op institutions across the State Context: The Punjab government plans to install micro ATMs in all its 3,535 primary agricultural cooperative societies and district central cooperative banks under its rural financial inclusion plan. Introduction: NABARD has accepted a proposal sent by the cooperative department to extend the digital transaction&hellip; <a class=\"more-link\" href=\"https:\/\/forumias.com\/blog\/punjab-to-install-micro-atms-in-co-op-institutions-across-the-state\/\">Continue reading <span class=\"screen-reader-text\">Punjab to install micro ATMs in co-op institutions across the State<\/span><\/a><\/p>\n","protected":false},"author":61,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":""},"categories":[555],"tags":[],"class_list":["post-31156","post","type-post","status-publish","format-standard","hentry","category-test-1","entry"],"jetpack_featured_media_url":"","views":{"total":0,"cached_at":"","cached_date":1704909056},"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts\/31156","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/users\/61"}],"replies":[{"embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/comments?post=31156"}],"version-history":[{"count":0,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts\/31156\/revisions"}],"wp:attachment":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/media?parent=31156"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/categories?post=31156"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/tags?post=31156"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}