Around 12.54 Lakh PoS Terminals Added in Jan-March Qrtr: FM

Posted By: Religare
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The Finance Ministry has said that around 12.54 lakh Point of Sale (PoS) terminals were added in January-March this year, giving a boost to government's efforts to promote digital transactions after demonetisation.

Around 12.54 Lakh PoS Terminals Added in Jan-March Qrtr: FM

As per reports, with the addition, the total number of PoS terminals increased to 27.73 lakh at the end of March 2017.

Commenting on the issue, a Finance Ministry Official told the media, "To improve such infrastructure in villages, 2.04 lakh PoS terminals have been sanctioned from the Financial Inclusion Fund by NABARD."

"To augment card acceptance infrastructure for use of debit cards, a major drive was undertaken between December 2016 and March 2017, resulting in an increase in PoS terminals by an additional 12.54 lakh, up from 15.19 lakh as on November 2016," he said.

Highlighting other achievements of the department, he said, the deposit base under Pradhan Mantri Jan Dhan Yojana (PMJDY) accounts has expanded over time.

Dion Global Solutions

Read more about: point of sale, demonetisation, nabard
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