PANAJI
Aiming at making the co-operative sector in the State cashless from next year, mobile banking facility will soon be rolled out to over 7 lakh customers in the sector.
The first meeting of the newly-formed core committee of the representatives of various co-operative societies in the State was called by the Goa State Co-operative Bank on Monday.
Speaking to media persons, GSCB Managing Director Suresh Lotlikar said, “The meeting resolved to adopt common software, particularly the urban societies which are currently providing similar facilities like the banks. Additionally, the committee also resolved to adopt and adhere to KYC norms set up by the RBI.”
The committee was also of the opinion to provide another platform to societies other than urban co-operative societies as they are not directly related to banking but are into consumers and salary earners. Additionally a decision was taken to form a steering committee resolve legal and operational issues while moving towards a cashless society.
The GSCB will also send a questionnaire to the co-opearative societies seeking data on various aspects like the customer base and status on computerisation, among others. The apex bank has already placed an order of 400 point of sale (POS) machines exclusively for the societies to adopt the cashless method of transaction.
The GSCB is expected to have a soft-launch of the mobile-based payment system with the sponsorship of Yes Bank. Additionally, a POS compliant debit card will also be provided with the mobile payment application as a special initiative for the customers.
GSCB Chairman Ulhas Phaldesai informed that in the first phase the Bank is targeting at providing this facility to its own customers and an order of 50,000 SIM stickers has already been placed.
