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The Ministry of Labour and Employment recently directed the Employees' Provident Fund Organization (<keyword id="19966712" type="General" weightage="100" keywordseo="EPFO" source="keywords">EPFO</keyword>) to ensure the activation of UAN (<keyword id="20789489" type="General" weightage="20" keywordseo="universal-account-number" source="keywords">Universal Account Number</keyword>) via Aadhar-based OTP. The outreach is part of announcements made during the Union Budget 2024-25, which aim to maximize the net of beneficiaries under the Employment Linked Incentive (ELI) Scheme. The central government has already directed concerned ministries and departments to ensure that payment of all subsidies and incentives under all welfare schemes occurs via the Aadhar Payment Bridge and that 100% biometric Aadhar authentication is achieved. Notably, Aadhaar-based verification eliminates the need for producing multiple documents to prove one's identity. In the first stage, all employers must complete <keyword id="24089674" type="General" weightage="20" keywordseo="UAN-activation" source="keywords">UAN activation</keyword> through Aadhar-based OTP for all employees who've joined the company in the current financial year by November 30, 2024. Starting with their latest recruits, employers will have to finish this process for all their employees. As per the budget announcements, the government will implement 3 schemes for 'Employment Linked Incentive' as part of the Prime Minister's package. These will be based on enrollment in the EPFO and focus on recognition of first-time employees and support to employees and employers. The ELI Scheme aims to create over 2 crore jobs in the country in 2 years. This will significantly contribute to increasing employment opportunities and enhancing livelihoods. UAN activation provides employees with seamless access to EPFO's comprehensive online services, enabling them to efficiently manage their Provident Fund (PF) accounts, view and download PF passbooks, submit online claims for withdrawals, advances, or transfers, update personal details, and track claims in real-time. This allows employees 24/7 access to EPFO services from the comfort of their homes, eliminating the need for physical visits to EPFO offices. For the uninitiated, UAN is a 12-digit number allotted to each member of EPFO (Employee Provident Fund Organization). Think of UAN as a single-point number that brings together multiple member IDs that have been allocated to a particular employee. In September this year, EPFO added 18.81 lakh members, registering a 9.33% YoY growth.

EPFO to ensure UAN activation for employees through Aadhaar-based OTP

<ul><li>The Economic Survey 2018-19 highlights how technology has helped the Indian government plug leaks in the country's '<keyword id="7286241" type="UNKNOWN" weightage="20" keywordseo="food-for-work">food for work</keyword>' programme -- the Mahatma Gandhi National Rural Employment Guarantee Act (MGNREGA).</li><li>It attributes the programs success to the JAM trinity of Jan Dhan, <keyword id="144117" type="ORGANIZATION" weightage="20" keywordseo="AADHAAR">Aadhaar</keyword>, and mobile payments.</li><li>The National Electronic Fund Management System (NeFMS) also also helped the government keep a more accurate account of which workers are on the payroll and if they're actually showing up for work.</li></ul>The origins of ‘food for work’ programs trace back to Kautilya’s Arthashastra — a Indian documents on statecraft, economic policy and military strategy. John Keynes, who popularised the theory, was still a century behind Nawab Asaf-ud-Daula who already had a ‘food for work’ program working in Lucknow when famine struck in 1784. In today’s day and age, India’s Mahatma Gandhi National Rural Employment Guarantee Act (MGNREGA) is using technology to streamline the national ‘food for work’ scheme to bring financial and economic inclusion. The JAM trinity — Jan Dhan, Aadhaar, and mobile payments — has eased the validation of beneficiaries and the process for releasing funds, according to Economic Survey 2018-19. Wages directly to the people Since it’s induction in 2005, the programme was riddled with issues. But, applying Direct Benefit Transfer (DBT) and Aadhaar-linked Payments (ALP), the Indian government has been striving to reduce delays in the payment of wages, curb corruption and political interference, and plug up any leakages in the system. As a workforce programme, MGNREGA’s mandate is to alleviate distress and ensure payments happen in a timely manner. Before DBT, wages were transferred into panchayat bank accounts and most of the workers had to collect their wages from the gram panchayat office. And, in order for DBT to work — the workers needed bank accounts. That’s when the Pradhan Mantri Jan Dhan Yojana (PMJDY) was implemented to bring about universal access to banking facilities. The Economic Survey 2018-19 highlights that before the implementation of ALP and DBT, there used to be an average lag of 90 days before wage payments for recieved. After their implementation, that lag has been cut down one-third from 35% to less than 10%. Culling out the ‘ghosts’ in the system Bringing in <keyword id="7829443" type="UNKNOWN" weightage="20" keywordseo="aadhaar-linked-payments">Aadhaar linked payments</keyword> ensured that the government would not be funding any ‘ghost’ beneficiaries. The National Electronic Fund Management System (NeFMS), implemented in 2016 and currently functional in 24 states, bolsters that effort by providing a real time database of wages being credited into bank or post office accounts by the central government. NREGAsoft, a local language workflow based e-governance system, looks at registration and muster rolls, a form of attendance register signed by workers to check false reporting of numbers. The service isn’t available to the public but does make it easier for the government to keep track of who is employed under the scheme and whether they are actually showing up for work. The government’s also held accountable of its actions with the use of mobile apps like Gram Samvaad Mobile App and JanMnRega were rural workers have direct access to information and can give their own feedback on how the system is working. The supply demand gap Since the government now access to data, the Economic Survey 2018-19 asserts that it will be able to implement MGNREGA more effectively by pushing government officials to provide more jobs in distressed areas. This should help bridge the demand supply gap between jobs available and the enlisted worker by using data provide jobs where there is more demand for them and vice versa. The survey also highlights how the vulnerable sections of the society — women, scheduled class, and scheduled tribes — have increased their participation in the program during times of distress. Going forward, the government wants to expand the number of jobs available to workers under the scheme, upskill the workers it has enlisted, expand the use of JAM, and use digital infrastructure to expand MGNERA beyond wages to also offer micro-insurance, micro-pensions and micro-credit to the underserved sections of society.

Technology plugged the leaks in India’s ₹60,000 crore rural employment guarantee scheme

In an aim to move towards cash less society, the government is coming up with an app that would do away with plastic cards and the point of sale machines. Scheduled to be launched tomorrow, this would eliminate the fees charged by card companies, which would eventually make merchants agree to switch completely to digital mode. 
 Merchants need to download the <keyword id="144117" type="ORGANIZATION" weightage="20" keywordseo="AADHAAR">Aadhaar</keyword> cashless merchant app on their smartphones connected to a biometric reader, which is currently available for Rs 2,000. The customer will then feed his or her Aadhar number into the app, select the bank through which the transaction will take place, and the biometric scan will work as a password for the transaction to be authenticated. "This app can be used by a person to make payments without any phone,'' Unique <keyword id="145005" type="ORGANIZATION" weightage="20" keywordseo="Identification-Authority-of-India">Identification Authority of India</keyword> (UIDAI) CEO <keyword id="1029687" type="PERSON" weightage="20" keywordseo="Ajay-Bhushan-Pandey">Ajay Bhushan Pandey</keyword> told ET. "Almost 40 crore Aadhaar numbers already stand linked to bank accounts - that is half the adults in India. The aim is to link all Aadhaar numbers with bank accounts by March, 2017." 
 "The settlement is done through the Aadhaar bridge, which means it connects a much wider set of people," <keyword id="6596800" type="PERSON" weightage="20" keywordseo="Rajiv-Lall">Rajiv Lall</keyword> MD &amp; CEO at <keyword id="62152" type="COMPANY" weightage="20" keywordseo="IDFC-Bank">IDFC Bank</keyword> told <keyword id="77091" type="COMPANY" weightage="20" keywordseo="The-Economic-Times">The Economic Times</keyword>."Anybody who has Aadhaar seeding done can make payments to merchants with this app. It wouldn't matter if the person does not have a credit or debit card, or even a mobile phone.'' The acceptance of point of sale terminals in the country has been slow with only 15 lakh terminals deployed by various banks. 
 <keyword id="13222" type="CITY" weightage="20" keywordseo="SBI">SBI</keyword> alone has deployed over 3 lakh terminals followed by <keyword id="6357149" type="CITY" weightage="20" keywordseo="HDFC-bank">HDFC Bank</keyword> and ICICI Bank.

Cashless made easy: Aadhar app for merchants to be launched tomorrow

In what is being regarded as a major milestone in <keyword id="6360789" type="ORGANIZATION" weightage="60" keywordseo="Modi-Government">Modi government</keyword>’s <keyword id="2412682" type="UNKNOWN" weightage="80" keywordseo="Digital-India-mission">Digital India mission</keyword>, bank accounts of 10 crore people have been linked with their <keyword id="144117" type="ORGANIZATION" weightage="80" keywordseo="AADHAAR">Aadhaar</keyword> card numbers. The move would allow these individuals to digitally receive government welfare subsidies and other payments in a hassle-free manner directly into their bank accounts. 
 
If the person moves to another part of India, they can access these subsidies as the facility is portable across any bank in the country. Till date, 333 banks are live on this platform. 
 
In order to link Aadhaar number to the bank account, one needs to provide a copy of their Aadhaar letter or their e-Aadhaar to the bank branch in which he/she holds the account. Once the account is seeded, it can be used by central government departments to transfer subsidies directly into this bank account. 
 
And just by dialling *99*99# on their mobile phones, residents can check status of the Aadhaar-Bank account linkage. To avail this facility, which is provided by National Payments Corporation of India (NPCI), you need to pay Rs 1.50 per enquiry. 
 
The Aadhaar identity platform is the largest biometric database in the world and serves users ranging from LPG consumers, MNREGA workers, PDS, remittance and scholarship beneficiaries, etc. – all using their Aadhaar number to avail benefits. 
 
Till December 9, 2014, nearly eight crore transactions have been carried out through the Aadhaar Payment Bridge for various welfare programs of the BJP government, which amounted to Rs 5,151.51crore. 
 
On Dec 12, 2014, issuance of Aadhaars crossed the Rs 72 crore-mark across the country. 
 The <keyword id="86474" type="ORGANIZATION" weightage="60" keywordseo="Unique-Identification-Authority-of-India">Unique Identification Authority of India</keyword> (<keyword id="6355252" type="CITY" weightage="60" keywordseo="UIDAI">UIDAI</keyword>), which has received national and international acclaim for the Aadhaar project, has also been declared as the best agency for “security in e-governance,” as per a press release available on Press Information Bureau. 
(Image: The Economic Times)

A Step Toward Digital India: 10 Crore Aadhaars Linked To Bank Accounts

PM Modi’s call to <a href="http://www.businessinsider.in/planning-for-goathese-are-the-amazing-airbnb-home-stays-within-your-budget/articleshow/57170378.cms">demonetize</a> Indian economy of Rs 500 and Rs 1000 notes wasn’t well implemented one. While the motive is appreciable, the modus operandi failed badly resulting in a hue and <a href="http://www.businessinsider.in/planning-for-goathese-are-the-amazing-airbnb-home-stays-within-your-budget/articleshow/57170378.cms">cry over cash </a>even after 100 days. The worst hit is the rural India, which was well of on cash economy. A sudden decision has destabilized the rural economy to the core. 
 At this juncture, to digitize the rural economy in a unique way, <keyword id="4191963" type="UNKNOWN" weightage="100" keywordseo="indepay">Indepay</keyword> has introduced <a href="http://www.businessinsider.in/planning-for-goathese-are-the-amazing-airbnb-home-stays-within-your-budget/articleshow/57170378.cms">prepaid cards</a>, which can overcome the hurdles of payment banks and mobile wallets. Many a times, traders may not have the mobile wallet that you use. To address such issues, Indepay’s prepaid cards work the best. 
 
Based on an innovative model of <a href="http://www.businessinsider.in/planning-for-goathese-are-the-amazing-airbnb-home-stays-within-your-budget/articleshow/57170378.cms">low-cost technology </a>and inter-connectivity, Indepay is a payment technology company. <keyword id="6359421" type="CITY" weightage="20" keywordseo="Visa">Visa</keyword> and <keyword id="6368201" type="CITY" weightage="20" keywordseo="MasterCard">MasterCard</keyword> pricing investment in developed counties has always been a high cost management affair, which has been captured in the law suits filed against them. There is a pressing need for an equitable pricing payment network for developing economies like India. 
 
 
When demonetization began, many people in rural India and the migrant labourers of urban landscape complained of not having bank account at all. Indepay plans to serve the population devoid of banking facility. 
 
 Indepay was launched in 2015 in <keyword id="8692" type="COUNTRY" weightage="20" keywordseo="Indonesia">Indonesia</keyword> with the same model, in cooperation with one of its largest banks, <keyword id="4191964" type="UNKNOWN" weightage="20" keywordseo="pt-bank-central-asia-tbk">PT Bank Central Asia Tbk</keyword> (BCA). The model is already operating successfully with high appreciations from the government of Indonesia. 
 Talking exclusively to <keyword id="824043" type="COMPANY" weightage="20" keywordseo="Business-Insider">Business Insider</keyword>, Rajib Saha, President and CEO- <keyword id="4082365" type="COMPANY" weightage="20" keywordseo="Indepay-Networks">Indepay Networks</keyword> expressed his interest to pioneer a low cost payment network with Indepay <keyword id="50752" type="UNKNOWN" weightage="20" keywordseo="Networks">Networks</keyword>. He envisions of providing all kinds of financial services to the <a href="http://www.businessinsider.in/planning-for-goathese-are-the-amazing-airbnb-home-stays-within-your-budget/articleshow/57170378.cms">unbanked and under-banked</a> masses, apart from the universal population. 
 
Credit issue 
Another big problem in rural areas is money lenders. Many people still rely on money lenders to build their houses and get their daughters married. However Indepay will enable credit at lowest level, where the network also bridges the divide between credit users and credit aspirants who lacked the digital cash signature for credit worthiness. This in turn would help boost credit consumption in the country. 
 
Focus on Pre-paid Model 
Indepay will decrease the dependence on bank branch<a href="http://www.businessinsider.in/planning-for-goathese-are-the-amazing-airbnb-home-stays-within-your-budget/articleshow/57170378.cms"> infrastructure</a>, hence facilitating accelerated adoption of cashless transaction. The branchless mode of operation involves enrolment of unbanked consumers with simple Aadhaar identification documents. 
 
No usage of smart phone 
Transactions can take place without smart phones, which will out the user at a lower risk of security breach 
 To begin with, Indepay is launching its pre-paid cards and has fast-tracked the near cash digital alternative in line with the Government’s demonetisation drive. Indepay aims to add 100 million new customers to banking system through its pre-paid cards. The project is already in its pilot phase, where Indepay has tied-up with <keyword id="6354731" type="CITY" weightage="20" keywordseo="State-Bank-Of-India">State Bank of India</keyword> as the first banking partner, acquiring more than 1.25 million customers.

You Searched For "Aadhaar Payment Bridge" and got 5 results

EPFO to ensure UAN activation for employees through Aadhaar-based OTP

BI India Bureau

Technology plugged the leaks in India’s ₹60,000 crore rural employment guarantee scheme

Prabhjote Gill

Cashless made easy: Aadhar app for merchants to be launched tomorrow

BI India Bureau

A Step Toward Digital India: 10 Crore Aadhaars Linked To Bank Accounts

BI India Bureau

Here's how Indepay is making rural India cashless

Suchayan Mandal

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