NABARD to provide two PoS devices to villages

National Bank for Agriculture and Rural Development has announced that it will provide two Point of Sale (PoS) devices in villages having population of 10,000. In a statement, NABARD Chairman Harsh Kumar Bhanwala said that over one lakh villages in tier 5 and 6 areas have been selected for the purpose. 

Mr. Bhanwala said the project likely to cost about 120 crore rupees will encourage people in rural areas to move towards digital transactions.NABARD will also help in the procurement of EMV chip and PIN-based RuPay Kisan Cards for almost 4.3



crore Kisan Credit Card holders at an approximate expenditure cost of 108 crore rupees. Mr. Bhanwala said that post demonetisation; these two initiatives will have a positive impact in easing the transition to digital transactions. 

NABARD has played a pivotal role in adoption of banking technology among regional rural banks and rural cooperative banks. Over the last few years it has brought nearly the entire cooperative banking system onto Core Banking Solution platform, a pre-requisite for moving towards cashless banking services.