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Rajasthan Govt launches payment wallet Bhamashah powered by YES Bank

Thursday August 30, 2018 , 3 min Read

At the inauguration of the Bhamashah Techno Hub, Chief Minister of Rajasthan, Vasundhara Raje also launched the Bhamashah Wallet mobile, as a step towards financial inclusion and to bring in digital mode of payments. 

Powered by YES Bank, the Bhamashah Wallet is an online payment application that offers a safe and secure digital payment experience. The wallet app provides secure transactions, banking services with single identity, merchant transactions, and a digikit in local languages for the residents of the state. 

The wallet service was launched as part of Bhamashah Yojana, a scheme introduced by the Government of Rajasthan, to transfer financial and non-financial benefits of government schemes directly to women recipients in a transparent way. 

Through the Bhamashah wallet, subsidy disbursements can now be done seamlessly by the government to the beneficiaries directly in the digital wallets provided to them.

A brainchild of Raje, the Bhamashah Yojana was envisioned much before Aadhaar in 2008. The focus is on a direct benefit transfer scheme in the country. The objective of the scheme is financial inclusion, women empowerment and effective service delivery.

“Today, everyone is assured that their money is transferred directly into their bank accounts and they can withdraw the money anytime with an ATM card,” said Raje. 

“Over the years, whatever innovation and digital transformation has been done is to ensure the lives of the ordinary citizen transforms and changes for the better.” 

Commenting on the launch, Rana Kapoor, MD & CEO, YES Bank said, “YES Bank is pleased to partner with the Government of Rajasthan to further digital payment services for citizens, ease subsidy disbursement process for the government and be an enabler of financial services for the last mile. The bank is fully committed to building frugal solutions on new technology and fostering a digitally-enabled India.”

Akhil Arora, Principal Secretary, Department of IT&C, Government of Rajasthan said:

“Rajasthan became the biggest financial inclusion and DBT Model in the country with Bhamashah Yojana. Today, with Bhamashah Wallet, the state has leaped way ahead, by providing all financial services, benefits transfer and wallet functionalities for free to each Rajasthan resident.”

The Chief Minister also launched Abhay command centres at Jhunjhunu, Dausa, Sriganganagar, Baker, Bhilwara, Karauli, and Dholpur. These centres are equipped with video surveillance, dial 100 management, traffic management, and cyber forensics among others. 

The Abhay command centres will help local authorities control and prevent crime. The goal of such centres is to ensure citizens in trouble can easily reach out to an authority in case of an emergency. These centres are completely digitised, which makes it easier for the authorities to quickly detect locations and even send help. 

During the DigiFest in Bikaner last month, the Chief Minister had launched Abhay command centres for Baran, Nagaur, Sirohi, Dungarpur, Pratapgarh and Jalore.

There is nothing that pronounces digital transformation better than a robot talking. Another highlight of the event was robot Mitra congratulating the Chief Minister on different innovations the state has made in the digital innovation space.