BENEFITS TO GOVERNMENT ENTITY
Increased financial inclusion:
- Umang card can be used to deliver financial service to individual who may not have access to traditional banking service. This will help promote financial inclusion and improve the overall welfare of the population
Increased efficiency & transparency:
- Umang card can help improve the efficiency of government welfare programs by eliminating middlemen and reducing scope of fraud. Government can ensure the fund reaches to intended beneficiary
Transaction scheduling:
- Umang card can be used to deliver financial service to individual who may not have access to traditional banking service. This will help promote financial inclusion and improve the overall welfare of the population
Cost saving:
- Scheduling transactions helps in managing many transactions. An automatic process will run once the system is set for transaction
Targeted benefits:
- Umang card enable the government to target benefits more accurately to the intended beneficiary, based on the specific eligibility criteria. This can help in ensuring that the benefits are directed to those who need them the most
