Game Changer DTC ?
The much touted Game Changer in the form of direct cash transfer itself begun on faulty premise of having intermediaries, which defeats the purpose of direct cash transfer. Why does Govt have to engage intermediaries, touts, agents, to directly transfer funds into a BPL family. The govt can engage the services of nationalised banks and pay the 2% commission to their kitty instead of intermediaries in the first place. The amount 2% works out to more than 24000 crores per annum if the scheme is implemented in full flow. Guys debate this important game changer policy of the govt, there may be many other lacuna in this system.
Because those who you refer to as "intermediaries, touts, agents" would be the party workers who help the political parties win elections. Every scheme would have something for the poor party workers as well who slave tirelessly for the welfare of the party.
They may not be necessarily party workers, they may be frauds, who might swallow the entire direct transfer cash by buying it out for lifetime etc. They will continue to draw income for lifetime by lending peanuts to the eligible person or family.
Why? Why the hell India is going so much backwards?
You have bloody the biggest bank in India which is 50th largest in the world in 2012, you have an additional 7 banks under your direct command. You can directly credit money into the receivers accounts in these banks.. improve cash flow, improve the bottom line of the bank which again means the lending costs comes down or pay higher interest on investments! heck, give out bonuses to those hardworking people who deserve a reward and recognition.. reduce the expenses for common man by reducing fuel prices.. what not can the government do with this commission money..
The intermediaries commission would work out to Rs 24,000 crores in full flow per annum, and further whatever they swindle from the customers account. Imagine the magntitude of the scam Hemal. Secondly there are twenty three nationalised banks which the govt wants to reduce it to around 5 or 6 banks again creating a total chaos. It will lead to loss of lakhs of job prospects, secondly break the unions back and finally it will enable the intermediaries to swindle the cash under direct cash transfer in the melee. What a game changer.
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