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GSCB to launch mobile banking facility for cashless transactions

PANAJI: The Goa State Co-operative Bank (GSCB) in its endeavour to adopt cashless transactions will be launching  a mobile banking facility, based on SIM sleeve technology which can be used even without Internet connectivity.

Addressing the media, GSCB chairman Ulhas Phaldesai said that the cooperative societies in the state have resolved to achieve the target of commencing cashless transactions by December 25.

“The co-operative societies met on Monday and have unanimously resolved to proceed to achieve the target by December 25 to adhere to the given timeframe of December 31 by the Goa government,” he added.

SIM sleeve technology uses a thin sticker which is pasted on the SIM card being used in the mobile phone regardless of its size, nano, micro or standard. The sticker installs a SIM Tool Kit (STK)-based app which can be used on any phone and also without the internet.

Phaldesai further informed that the customer will have to bear a one-time cost of Rs 200 for the SIM sleeve sticker which has a shelf life of 5 to 8 years and Rs 75 for the debit card to be issued by the bank.

However, he said, “We are going to request the government to assist us so that Rs 275 can

be waived off and the customers can avail of the facility for free.”

The SIM sleeve technology works in all formats without the Internet. It uses the GPRS services, the SMS gateway to drive the messaging flow to the IMPS gateway and through the IMPS gateway the transaction is pushed to the beneficiary account.

The GSCB has partnered with the private sector bank, Yes Bank for the technical support, while the SIM sleeve and debit cards will be manufactured and supplied by TAISYS, a Taiwan- based company.

Phaldesai informed that the bank customers could benefit from any mobile banking services including Person to Person (P2P) fund transfers, Person to Account (P2A) fund transfers using NEFT and IMPS, among others.

Meanwhile, Minister for Cooperation Mahadev Naik announced the Goa State Cooperative Awards for the year 2014-15.

The Goa Sahakar Ratna has been awarded posthumously to late Manohar Parab Gaonkar, while the Goa Sahakar Bhushan has been awarded to Vivek Prabhu Dessai and Goa Sahakar Shree has been awarded to Ravindra Phaldesai.

Neeta Deepak Tate and Vasu Bombo Velip have been awarded with a cash assistance of Rs 50,000 each for their dedication and sincerity for the upliftment of their respective societies.

The Sattari Urban Cooperative Credit Society Ltd from Valpoi has been awarded the best cooperative society award, while Goa state consolation awards have been awarded to Ponda Education Society Employees Credit Cooperative Society Ltd from Farmagudi and Netravali Sahakari Dudh Utpadak Saunstha Maryadit from Netravali.



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