UID Project plans to introduce micro-payment platform in order to facilitate banking in rural India. The platform will enable Business Correspondents (who could be a local kirana shop owner and will act as ‘micro atm’) to conduct instant transactions.
The micro platform will enable function through low cost devices (micro ATMs) that will be connected to banks across the country. This would enable a person to instantly deposit or withdraw funds regardless of the bank associated with a particular BC.
This device will be based on a mobile phone connection and would be made available at every BC. Customers would just have to get their identity authenticated and withdraw or put money into their bank accounts. This money will not come from the ATM, but from the cash drawer of the BC – Nandan Nilekani [via].
Essentially, BCs will act as bank for the customers and all they need to do is verify the authenticity of customer using customers’ UID.
Is UID project getting into implementation details even before the platform is ready?
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No matter how much I like the UID project and what it can bring to the Indian people, I think they are putting the cart before the horse. Randomizing into solutions before the platform is built is a sureshot way of time mis-utilization and hence makes one answerable to a lot of questions.
I think they should concentrate purely on the UID core offering and then let the ecosystem think of possible usages than meeting with these guys now and totally randomizing the effort.
We all like stories – and the micropayment is a great story to tell. However it should come a bit later IMHO
Its good thought but I believe first UID project team should pay more attention on going live once the project gets established/launched they can keep on adding the features/ facilities at any time
If these are sample apps on top of UID platform… then it’s cool that they think and talk of possible usages while designing the platform…
On the other hand, if these are parts of UID platform itself, then I think they are trying to do too many things, which is not a good thing, as per my text book knowledge.
Eventually, I hope, the UID platform can be accessed by private entities to build their own “apps”.
There are political n bureaucratic people who will ensure that a lot of tax payers money is spent on this project before it is shelved. With that money some more political brats would end up getting education in America. No big deal.
Knowing that UID project is going to fall flat on it’s objective — we are going to hear this rhetoric every quarter — So, financial inclusion sound bytes we hear right now. Betting, next would be disbursal of NREGA funds and then national call center after that, followed by universal health care card based on the UID and then
This is turning out like any other government project – had hopes with the identity but thieves will take the identity and both money away. With publicity you can at least mute something.
Coward for a reason I can’t disclose.
UID project and Financial Inclusion project can be inter linked for reaching the unreached.
Both project will face its own operational issues, operational process has to be strengthend.