T-Wallet for scholarship cash withdrawals

T-Wallet for scholarship cash withdrawals

T-Wallet, the official digital wallet of Telangana government, is to be used extensively by the Welfare Department for transferring scholarships to students throughout the State. This is after a successful pilot project of allowing 20,000 students in Nizamabad district to draw money directly making use of the wallet rather than through bank account.

Launched in June 2017, it will be the first mobile wallet to offer such a service and is also purported to be the only digital wallet initiated by any State government across the country. It was recently given permission by Reserve Bank of India to facilitate such cash withdrawals. The Electronic Service Delivery (ESD) wing of the Information Technology, Electronics and Communication (ITEC) Department has once again sought the permission of the RBI to roll out the T-Wallet service of withdrawing money from various MeeSeva Centres in Telangana.

“We have successfully shown that there is now an alternative means of providing fool-proof scholarship money digitally through mobile to the students without having to go to any bank even though it is still possible to link it to the bank account and withdraw the money,” says Commissioner (ESD) and Special Commissioner (e-governance) G.T. Venkateswar Rao.

The novel method was mooted and tested after authorities noticed that the students were having issues with maintaining minimum bank balance every month as per banking norms as the scholarships disbursal is done once annually. “We have about 4,000 MeeSeva centres and these can be used to provide cash to students through the T-Wallet. The only challenge is to maintain adequate cash reserves in each centre and, perhaps, we may think of incentivising them to provide the same,” he explains.

The technology will also be tested in another four districts before which it is expected to be taken to all other districts once the RBI nod comes through. There have been disbursements to the tune of ₹25 crore so far and about 30,000 cash transactions so far. T-Wallet transactions had also crossed an unprecedented ₹3,000 crore mark within 26 months of its launch, added Mr. Rao. T-Wallet is available in English, Telugu and Urdu.

 

Source:- thehindu

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