Swipe machines in all railway stations
Posted on: 03/Dec/2016 11:09:48 AM
Railways have decided to install swipe machines in all the railway stations in the country. On 8th November, it was announced that Rs 500 and Rs 1000 notes will be invalid. Now, new currency notes 500 and 2000 were put in circulation. The government had also announced that old invalid notes can be deposited till 30th December. Public are depositing the old invalid notes. In order to promote cashless transactions, enough money is not put in circulation. Because of this there is shortage of cash.
In between, the government in order to promote cashless transactions has been introducing various schemes. At this juncture, Railways have decided to install swipe machines in the booking counters of all the railway stations. Indian Railways has asked the State Bank of India and ICICI Bank among others to provide around 15,000 point of sale (PoS) machines at reservation counters, with about a thousand of these machines to be made available by Dec 31, to make railway travel bookings digital.
