New Delhi  : A task force led by Nandan Nilekani today suggested that 10 lakh business correspondents be appointed to ensure that social sector schemes’ benefit reach the intended beneficiaries in about six lakh villages. Business correspondents are the persons who facilitate banking and financial services at places where full-fledged banking services are not available. The ‘Task Force on the Aadhaar-Enabled Unified Payment Infrastructure’ made this recommendation so that these one million mini-ATMs could be used to make payments to beneficiaries in 2.25 lakh gram panchayats. It further said that the government should bear the last mile transaction fee of 3.14 per cent subject to a cap of 20 rupees per payment. These recommendations form a part of the report presented today to the Finance Minister Pranab Mukherjee by UIDAI-Chairman Nandan Nilekani in New Delhi.

Agriculture Minister Sharad Pawar, Rural Development Minister Jairam Ramesh and Food Minister K V Thomas were present on the occasion. Talking to reporters after presenting the report, Mr. Nilekani said that he has also recommended transaction fee but the government will take a final decision on it. Nilekani also pointed out that the network of one million business correspondents will help making huge government payments of benefits and subsidies of about Rs 3 lakh crore through electronic mode every year.

At present the rural banking infrastructure only consist of about 30,000 bank branches and 1,20,000 post offices in contrast to the 80,000 bank branches, 150,000 post offices, 88,000 ATMs, and five lakh point of sale machines in the entire country.