BT-23 · I{ABARD Ref. No. N B. DF I BT' / 13305-L3790/D Fl BT-23 / zOtG - t7 Circular No- 292 /...
Transcript of BT-23 · I{ABARD Ref. No. N B. DF I BT' / 13305-L3790/D Fl BT-23 / zOtG - t7 Circular No- 292 /...
@I{ABARD
Ref. No. N B. DF I BT' / 13305-L3790/D Fl BT-23 / zOtG - t7
Circular No- 292 / DFIBT- 43 /2Ot619 December 2OL6
The Chairman and Managing Director / Chairman / Chief Executive Officer
Scheduled Commercial Banks
Regional Rural Banks
State Co-operative Banks and *
District Central Co-operative Banks
Dear Sir
Pilot project t6 incentivise Aadhaar Based Biometric Transaction through Financial Inclusion
Fund (FlF)
There is thrust on digital transactions and a need to provide an impetus to digital transactions.
Accordingly, NABARD is providing support under FIF for deployment of PoS terminals in one
lakh villages. At present, there are about 15 lakh PoS terminals in India of which most are
located in urban areas. 1O9.L2 crore Aadhaar cards have been issued by UIDAI and a total of
36.70 crore Aadhaar seeding to the Bank accounts have been completed as on.L8 December
2015. Aadhaar enabled payment system (AEPS) is one of the mode by which people can
transact without having debit card and PIN numbers. This is one of the ways of doing financial
transaction suitable especially for rural Indian population. Aadhaar based transactions in
microATMs through AEPS route is well established. The PoS terminals may also be utilized for
financial transactions by using Aadhaar card and biometric authentication.
2. In order to provide impetus to Aadhaar based biometric transactions through the PoS
terminals it has been decided to extend support for a Pilot project to incentivise Aadhaar
Based Transaction through Financial Inclusion Fund (FlF). The proposal envisages an incentive
of O.5% of the transaction value subject to a cap of Rs L0/- per transaction, to be passed on
to the merchant by the lnerchant acquiring bank for Aadhaar based transactions up to
Rs.2000/-.
{Ffrffiftrffiurflilo,rqfuNational Bank for Agriculture and Rural Development
P{frq{cTfurrsfu ff6q*siF.r-df{6rqcfs t. fr-z+,
(fr,Efd, cisr - g''di 6Rtr, ciqr (Td), Td - 400 051 . )R. : +91 2226s3 0024 . $-fl : +9r 222653 0150 . {-i-q , [email protected]
Deparbnent of Financial Inctusion & BankingTechnologrplotNo.c-24,'G'Block,Bandra-Kurlac,omplex,Bandra(E),Mumbai-4ooo51 .Tel.:+9rzzz653ooz4.Fax:+9rzzz65go15o.E-mail:[email protected]
Eligible Institutions
All merchant acquiring banks allowing Aadhaar based biometric transactions at poS terminals
are eligible for support under the scheme.
Extent of Support
0.5O% subject to a cap of Rs 10/- per Aadhaar based
bank for passing on to merchants for Aadhaar based
devices at merchant locations.
Duration of Support
The support will be available to Banks from 0L January zo77 tll3 j. March 2017.
3. Other terms and conditions of the Support are:
The operation of the scheme will be for a maximum period of three months i.e from 0LJanuary 2016 till 31 March 2ol7 alongwith the following conditions:
a) The scheme is applicable to Aadhaar based transactions only.b) The Scheme will be initially operational till March 2017 and will be reviewed on a
monthly basis for continuation/modification.It will be reviewed for further extension of three months depending on the availabilityof infrastructure, no. of transactions achieved per day and resource position.Maximum incentive allowed per merchant would be restricted to 10,000 /- per month.Transactions of up to Rs.2000/- will be covered under the scheme.
Reimbursement will be on a monthly basis.
claim to be submitted to NABARD Head office in the given format (Annexure t).
4. Banks are requested to forward the applications at the earliest to NABARD, to expedite
the implementation process with support from FlF.
Yours faithfullv
(Gautam Sen)
Deputy General ManagerEncl.:As above
transaction will be reimbursed to the
transactions undertaken by using poS
c)
d)
e)
f)
s)
(Format for submission of ilaim by the bank - on Bank,s letterhead)
Annexure I
The Chief General Manager........ Head Office
Dear Sir
Pilot project to incentivise Aadhaar Based Biometric Transaction through Financial Inclusion Fund(FlF)- Claim for ..........(month) 2017- (Name of the Bank)
Pfease refer to your circular number ..... dated lQ-Decembe r 2o'J,6 on the captioned subject. ln thisconnection, we request you to sanction and reimburse Rs. ...... for the captioned project. The detailsare as per the following:
Aadhdar Based Biometric Transaction Details
Sr. No Particulars Details1 Total number of merchants acquired by the
Bank
2 Total number of ON-US transactions3 Total number of OFF-US transactions4 Total Transactions5 TotalClaim
3. We have incurred an expenditure of Rs. for paying to merchants for transactionsundertaken by using Pos devices through Aadhaar Based Biometric Transaction at merchant locations.We certify the following:
a) that the transactions given at the table above are Aadhaar Based Biometric Transactions.b) maximum incentive allowed per merchant has been restricted to Rs. 10,00 o/- per month.c) transactions of up to Rs.2oOo/- has only been covered under the claim.d) Actual incentive @ 05% of transaction value with a maximum of Rs.10/- per transaction onlyhas been claimed,
we request you to kindly reimburse an amount of Rs............., for paying to merchants for transactionsundertaken by using Aadhaar Based Biometric authentication at pos devices at the merchant locations
Yours faithfully,
Name of authorized Officer:Designation:
Name of the Bank:
Date:
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