ENA Economy 2016-12-07 04:05:10 <p><strong>New Delhi, Dec 7 (KNN)</strong> In order to facilitate the move towards cashless transactions, the Government has directed the banks to install an additional one million new PoS terminals by 31st March 2017.</p> <p>It has also organized 2, 73,919 camps to open bank accounts for unorganized labour in which 24.54 lakh accounts opened.</p> <p>Towards this end, banks have already placed orders for 6 lakh PoS machines and another 4 lakh PoS machines are likely to be ordered in the next few days.</p> <p>The country today has about 15 lakh PoS terminals across different merchants to facilitate card based payments.</p> <p>A special drive has also been undertaken jointly with Ministry of Labour &amp; Employment and States Administration to open banks accounts for unorganized labour by holding camps at various locations. A total of 2,73,919 camps have been organized so far in which 24.54 lakh accounts have been opened.</p> <p>In the light of the Governments decision to demonetize Specified Bank Notes w.e.f. the midnight of 8th November 2016, banks are making all out efforts to facilitate genuine transactions.</p> <p>The Ministry of Finance said, Appropriate action is being taken against individuals involved in irregular and unauthorized activities. Since 3rd December 2016, action against 7 officials of Public Sector Banks (PSBs) has been taken.</p> <p>In addition, audit has been taken-up in few branches of Public Sector Banks (PSBs). The Concurrent Audit is also being initiated as per the requirement and under the extant guidelines of RBI, it added. <strong>(With PIB Inputs)</strong></p> 15925 http://knnindia.co.in/news/newsdetails/economy/govt-directs-banks-to-install-additional-1-million-new-pos-terminals-by-march-31-2017 2016-12-07 04:05:10 knnindia.co.in