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This is a great idea. We can draw a parallel from the restaurant industry. We have applications like foodpanda etc which have created a network of restaurants, displaying their menus, ability to place orders and also make payments. This model is well established in the restaurant industry.


Prakash commented on Allow Individuals to Function as Mini Banks

Hi , You may want to read about the Business Correspondent model which is prevalent in India. This model is in play for last couple of years and provides point of presence for banks in remote and unbanked areas. The local stores are used as the point of presence for the banks. One can do basic banking transactions like deposit, withdraw, balance check and open new accounts.

This is a great idea. It would work both ways. There will be a standardized minimum wage structure based on preset parameters. Neither the employer nor employee will be able to hold each other to ransom. RWA's can be the central agency to set the rates. They would be in a better position to know the local conditions and wage rates. However they need to be fair since they are also an interested party. All employers should be encouraged to make payments to their domestics using IMPS into their Jan Dhan accounts. This will ensure that the domestics also have an insurance cover which is integral part of the Jan Dhan account. Also if they are registered under a group other insurance benefits can be designed for them by insurance agencies. Today since they are not organized they have no benefits of insurance. Direct credits to their account will also help them build a history which can be used to extend credit when needed.