In a first step for delivering services by using Jandhan-Aadhaar-Mobile (JAM) trinity, IDFC Bank on Thursday said it has tied up with Andhra Pradesh Government for DBT schemes in the Krishna district of the state.
The delivery of services under the Direct Benefit Transfer (DBT) will be through inter-operable Aadhaar Enabled Payment System (AEPS) micro ATMs deployed in villages in Krishna to enhance last mile financial access using digitisation, IDFC Bank said in a release.
To begin with, effective May 1, Andhra Bank will deliver social security pension under the DBT. IDFC Bank said the programme will be extended for delivery of other government services or entitlements and then to Public Distribution System (PDS).
“It also makes IDFC Bank the first to deliver Direct Benefit Transfer like social security pensions, and in coming days, others schemes like scholarships, lPG subsidies, MGNREGA benefits, through an interoperable AEPS Micro ATM model, at scale, in a district, in a concentrated manner”, IDFC Bank said.