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TS govt. planning to supply POS machines!
Telangana government is planning to procure one lakh point of sale devices and supply to small traders, whose turnover is between Rs 2.5 lakh and Rs 5 lakh to boost the cashless transactions.
It is yet to be known whether the government supplies the machines at subsidized rates or for free. Each PoS costs up to Rs 10,000. According to the finance department, the estimated cost is Rs. 100 crores. So the state government is looking forward to seek financial assistance from the Centre.
“Demonetization has changed the mindset of traders. They suffered huge losses with business coming to a halt due to the currency shortage. They are in favor of cashless transactions, but are wary of purchasing PoS devices by spending `10,000. If the government supports them, they are willing to go for cashless transactions,” said an official in the finance department.
