Minister of state for cooperatives in Madhya Pradesh Vishwas Sarang has announced the launch of e-wallet during first Digi Dhan fair, organised in presence of chief minister Shivraj Singh Chouhan and Union minister for chemical and fertilisers Anant Kumar, in Bhopal, reports Times of India.
However, the cooperative dept of the state has taken permission neither from the finance ministry nor from the RBI.
The minister said MP is the first in the country to launch an e-wallet in the cooperatives sector.
A digital wallet refers to an electronic device that allows an individual to make electronic transactions through net or mobile service. This can include purchasing items online with a computer or using a smartphone to purchase something at a store. An individual’s bank account can also be linked to the digital wallet.
Vishwas Sarang is also a Board member of apex body of Labour Cooperatives NLCF.