Updated By: LatestGKGS Desk
5 lakh EPOS at Ration shop to work as micro ATM in rural areas
PM Narendra Modi's Government to install 5 lakh EPOS at Ration shops in rural areas to expand e payment and withdrawal
Government has decided to install 5 lakh electronic point of Sale (EPOS) in Ration Shops which would work as a micro ATM.
Due to demonetisation, the people living in rural areas are suffering alot as they are not able to get the new denomination cash and for this reason this decision is taken.
EPOS system works as a micro ATM for withdrawing money
The financial services department of Finance Ministry has sent a circular to all the General stores in rural areas on one day before the note ban 7 November to adopt financial inclusion through EPOS and double micro ATM.
EPOS ensures the people to not even withdraw the money through debit or credit card but also do various other transactions.
The people can easily get subsidised products through EPOS by biometric system.
