Maha wallet: Fadnavis govt's proposal for a cashless society

To mitigate the impact of demonetisation on the masses, the Maharashtra government is working on a 'Maha wallet' to encourage cashless transactions.

"I have told the Information Technology department to prepare a report (based on the proposal) in this regard and submit it to me in a fortnight," Finance Minister Sudhir Mungantiwar told PTI.

"Maha wallet will be a secure e-service where the citizens' money would be secure. We are working on a system where needs of each of the 11.97 crore population of the state are being considered," the Minister said.

The IT department proposal will consider various facets like the needs of people who are well-versed in net banking and those who are not, smartphone or feature phone users, and those without a mobile, besides the technologically challenged.

"We want to ensure that the system is modelled to help small vendors, farmers and all those who deal in cash transactions," he said.

Similarly, the proposal will also highlight the amount to be deposited in the Maha wallet by users. It will also work on finding out how many citizens have bank accounts and how many use debit and credit cards.

"Efforts are on to make a less cash society since being cashless is difficult. We want to create a system where citizens will be required to carry less cash with them," Mungantiwar said.

He said that after the proposal is received, the matter will be taken up with Chief Minister Devendra Fadnavis for further action.

Fadnavis, who is member of the committee appointed by the Centre on promotion of cashless society, had pointed out during a recent meeting with the panel members that needs of farmers, labourers from unorganised sector and small vendors should be considered first.