Mizoram all set to provide doorstep micro-ATM access to around 65+ villages soon!
AIZAWL: In view of the recent financial inclusion implementation scheme introduced by the Deputy Commissioner of Aizawl, Kannan Gopinathan, whereby an initiative of a tie up between SBI Cash@PoS system and North East Rural Livelihood Project (NERLP) to provide micro-ATM services to almost every village in the District was rolled out, the scheme seems to be gradually picking up pace.
Though this attempt at this model has the potential of providing financial accessibility solution for the remote villages in the region, it was realized that there were two major challenges that needed to be addressed-
1. The service charge of 1% per transaction levied by the bank on account holders.
2. Lack of seed money or overdraft facility available to our bank facilitators to initiate the first few transactions.
As per a recent update on this shared by the DC himself on his facebook post, some bottlenecks were constructively addressed in this regard, like the problem of initial seed money was solved as SBI had agreed to provide 50k to each as overdraft facility upfront.
Both the issues addressed- Five transactions per person per card per month made free, Upfront overdraft facility of 50k to be given to operators.
There was also positive response from the field as people were happy to even pay the transaction fee. It takes one full day & 100-200 rupees to go to the nearest bank. 13 more battery operated machines had also arrived and a one-day workshop was also conducted to create sensitization among the masses.
(Image: Representational image used from internet sources)