Rationing Shops to turn into Mini Banks

The Food, Civil Supplies and Consumer Protection Department in Mumbai will provide banking services in ration shops to increase income for shopkeepers and improve services in remote areas. Nationalised, postal and private banks will be involved, with India Post Payments Bank being one of them. There are over 53,000 Fair Price Shops across the state, with nodal officers appointed in each district and training provided for shop owners. The scheme will provide access to loan facilities and other banking services for the poor. PM-WANI units will be installed in ration shops to enable Wi-Fi for banking services.

Mumbai: The Food, Civil Supplies and Consumer Protection Department (FCSA), has decided to provide banking services in ration shops (Fair price shops), in the state to have better services in remote areas as well as to increase the income of the shopkeepers. Services by nationalised banks, postal banks and private banks will be made available.

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As per the FCSA data there are 53,028 FPS across the state. In Thane and Palghar districts which are part of the MMR there are 3,177 FPS and in Mumbai there are 2,904 FPS and people in this area will benefit from it.

“Prime Minister Narendra Modi launched India Post Payments Bank (IPPB) with a vision to become the most accessible, affordable and reliable bank in the country. Fund transfer, Direct Benefit Transfer (DBT), Bill Payment, RTGS facilities are provided by this bank,” said Ravindra Chavan, Food and Civil Supplies Minister on Thursday. “These services will be available in Fair Price Shops. Besides IPPB nationalised banks and private banks in the scheduled list of RBI will be allowed to access the ration shops to start their services.”

According to the order issued by the government, there will be a nodal officer appointed in each district, and there will be freedom for FPS shop owners to choose the bank.

There will be no compulsion for the shop owners to start the banking services in the shop. The shop owners will get training in running the banking services.”This scheme will help the poor to access the loan facilities along with other banking services,” stated the government order issued on June 20.

“Through the PM-WANI initiative launched by Prime Minister Narendra Modi, PM-WANI units will be installed in ration shops for the Wi-Fi facility to run the banking services,” said Chavan.