Smart Card
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Overview of Andhra Pradesh Smartcard Project

In 2006 Department of Rural Development, Government of Andhra Pradesh started a pilot initiative to make payments of Government benefits to the beneficiaries through Smartcards which are backed by bank accounts. The overall objectives of the initiatives are:

                  i.    Provide a operational frame work for increasing the outreach of main stream banking and financial services to the poorest of the poor by using technology based solutions.

                 ii.    Ensure efficient and timely transfer of govt. benefits to the poor.

                iii.    Minimize the possibility fraudulent payments.

                iv.    Ultimately to achieve Total Financial Inclusion through Smartcards.

1.     Approach:  The approach is to create branchless banking infrastructure by establishing a network of business correspondents in each village.

      Banks and Government will work together to open accounts and issue Smartcards to the poor. To begin with, certain Government benefits like Social security pensions and NREGS wage payments will be delivered through this network. In the next stage, banks will deliver main stream banking services like Savings, Deposits, Remittances, loans etc.

      The endeavor is to establish a banking out post in each village to include the unbanked poor. Thus, it is a major step towards Total Financial Inclusion.                                         More...[+]