Now if AEPS fails 40% of the time, what is the corruption and leakage? This is world beating technology?
But AEPS is not NEFT, RTGS. It adds 3 more layers.
The Aadhaar Mapper and 2 Seeding Layers.
Seeding Layer 2 is adding your UID to your bank account.
And then Transfer is not to the destination bank account directly but by an intermediate switch called the Aadhaar Mapper.
We have not yet come to distribution.
1. The Banking correspondent
2. The Micro ATM.
3. Beneficiary's Fingerprint.
4. Random bank rules for withdrawal limits.
Only when all this works, you move the money from bank account to the hands of the beneficiary.
Layered failures as shown above is also a form of "cutting" but caused by human and tech failures.
End result: People don't get what they want on time and when they want it.
it is not about cash transfer or PDS. It is about the infra, tech used and accountability measures.
Same applies for cash transfer. Is AEPS the right infra? Is BC driven Micro ATM the right model?
Lots to think about.
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