New Delhi : A task force led by Nandan Nilekani today suggested that 10 lakh
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.