Thiruvananthapuram: Electronic transactions have increased significantly in the last few years. The Department of Treasuries in Kerala is also putting in place a digital wallet or e-wallet facility along the lines of banks and digital payment companies. This will enable Kerala government pensioners and employees who have accounts with its treasury to transfer money directly from one e-wallet to another.
The major benefit of using the e-wallet of the Treasuries Department is saving on the commission charges that have to be paid if transactions were carried out using banking apps and cards.
Currently, the financial transaction of all government departments in Kerala is carried out through the e-Treasury system. The e-Treasury will now be linked with e-wallet, thus enabling transfer of money from the treasury accounts to e-wallets.
With the digital payment facility in place an account holder can choose the required services through e-wallets and deposit or transfer money.
Those who will benefit are the account-holders of the Treasury Savings Bank, Pension Treasury Savings Bank (PTSB) and Employee Treasury Savings Bank (ETSB).
The e-wallet app is being developed by the National Informatics Centre.
In India digital payment transactions have grown multifold from Rs 1,004 crore in 2016-17 to Rs 5,554 crore in 2020-21.
