In the light of recent events, the Centre has been relentlessly pitching cashless transactions everywhere. It didn’t make a difference to Rajasthan that had already set up the groundwork for cashless transactions much before the demonetisation move. ‘Bhamashah Cards‘ (direct delivery of government benefits to account holders) and ration delivery through PoS machines at ‘Annapurna Bhandars‘ were quite popular in Rajasthan. After the massive success of this drive, the state braces up for cashless insurance now. Recently, the Rajasthan SIPDF (State Insurance and Provident Fund Department) has approved direct transfer of insurance money into the bank accounts of beneficiaries nominated for various state insurance schemes.
Cashless Insurance for Rajasthan Now
The SIPFD has taken this historic decision, seeing that the Centre has appealed the public, financial institutions and establishments to go cashless. There are about 23,000 government employments in Rajasthan who’re insured under various state-run schemes. These employees were expecting a payment in the coming financial year. Earlier, the state government was planning to pay this amount in cash. However, now, they’ll receive the said amount via NEFTs and direct bank transfers.
For those who don’t know, all government officials receive a fixed amount as insurance when they retire. The said amount, upon maturity, ranges from Rs. 2 to 10 lakhs, and may be higher in some cases. Until last year, these beneficiaries were paid in cash, but seeing that the government is running out of hard money, they’d made provisions to credit the said amount in their bank account, like monthly salaries. The fact was informed by Kishna Ram Isarwal, Senior Additional Director of Insurance (SIPFD).
The SIPFD has already deducted premiums from employee salaries and they’ll benefit the beneficiaries when their policies mature. However, the SIPFD has made slight changes to the system. The beneficiaries are expected to apply for the insurance money online. Once applied, the money will be creditted to their accounts by April 2017.
This is rather convenient for the employees, who don’t have to rush from one office to another. Also, it’ll ensure on-time delivery of services. A win-win situation for customers as well as the government.
