Maharashtra’s Food, Civil Supplies and Consumer Protection Department has taken a significant step by introducing banking services at ration shops across the state. This move aims to boost the income of these stores while also providing essential banking services to rural and remote areas. An Agricultural Guarantee and Receipts (AGR) has been issued to implement this initiative.
Following the model established by the Union Ministry of Communications in 2018, where India Post payment bank services were made available through post offices, now similar services will be accessible at ration shops. Nationalized banks, private banks (Schedule-II), and India Post Payment Bank will offer cashless transactions, payments, Real-Time Gross Settlement (RTGS), and loan facilities. These services will utilize OTP and biometric systems.
To facilitate the scheme, banks are required to appoint nodal officers at the district level. Agreements between the banks and ration shopkeepers must be established to ensure the provision of these services.
The Department of Food, Civil Supplies and Consumer Protection expect that this system will generate more business for banks, increase the income of ration shopkeepers, and improve the lives of hundreds of thousands of people. All banking transactions conducted at ration shops will be entirely digital, offering shopkeepers a chance to earn a regular monthly income through voluntary participation. The agreement for this arrangement will be made between the respective bank and the ration shopkeeper.