The authored article by Mr. Romil Meghani talks about prefunded model of bill collection which is currently executed by Pay Point India in Chhattisgarh. The article highlights that only 10% of the Indian population uses payment instruments and the remaining 90% still goes through the inconvenience of travelling to service providers counters and waiting in queues, wasting time, money and efforts. Even when money is paid, it takes 3-5 working days to reach the utility provider’s bank account leading to cash flow problems and rising cost of funds.
In the pre-funded model, Mr. Meghani explains, money is transferred up-front to the DISCOM, for which the DISCOM gives a virtual limit to the ITES platform amounting the money deposited. The IT platform distributes the virtual limit to the retail network to accept bill payments towards the DISCOM. The platform has built in mechanisms for checks, balances and notifications which generate real-time transaction and collection information for DISCOMSs.
About Energy Manager (Quarterly Published): Circulation – 5000 across India
Target Audience – Certified energy professionals, energy managers, energy auditors and energy management professionals. Publication is in circulation – Since January 2008 (7 years). Publication is published from which city – Kerala
Website URL – Energetica India