Govt plans ATMs, cashless transactions at trade fair

New Delhi: In the face of cash crunch from note ban, the Union commerce ministry plans ATMs, card swipe machines, and digital-wallet tie-ups for India International Trade Fair, in order to draw visitors to the event that opens up for the public on Saturday.

ATMs are expected to pop up on site, swipe machines at ticket counters, and digital-wallet tie-ups will likely be with Paytm and Freecharge to allow cashless transactions. ATM is automated teller machine, from which you can take money out of your bank account using a special card. "Our projections suggest fewer people might turn up owing to the current situation," an official from India Trade Promotion Organisation, the body under the ministry in charge of the fair, said. A proposal to raise ticket prices has been shelved due to low turnout expectations, he added on the condition of anonymity. The prices of tickets for general visitors have been kept at Rs 60 on weekdays for adults and Rs 120 on weekends. These can be bought online. Based on the theme of Digital India, the fair has kicked off with 7,000 participants in an exhibition area of more than 100,000 square metres. This year, partner country is South Korea and focus country is Belarus. The fair saw business-to-business interactions and events Monday to Thursday.

During this period, business tickets, priced at Rs 500, kept smaller traders away, another official said. Apart from ticket booths with enough swipe machines, the ministry has also promised to provide exhibitors with the machines through a tie up with State Bank of India (SBI) and Axis Bank. This will be supplanted by a higher number of ATM machines being installed, up from 2 last year to 14 this time.

One or more mobile ATMs are also expected to be set up. However, visitors have complained of the machines running on empty, same as others across the city.

For small artisans and exhibitors, SBI has been tied up to open bank accounts, if needed, on site.

Apart from exhibition stalls being set up by various Ministries, state governments of Punjab, Tamil Nadu, West Bengal, Bihar, Odisha, among others are expected to be major crowed pullers with a significant amount of buying and selling

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Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.