Most of the lower or middle income group families in India has only one member earning for the family, but almost everyone in the family has a role to spend for various expenses. This case is more relevant for migrant worker’s family. Housewife need to pay
for groceries, milk, etc., other dependants (elders, teens) may need to pay at vegetable shops, saloon, stationaries and various payment needs at school, etc.
Direct access to funds from bank account for cashless payments through digital wallet requires mobile as one factor of authentication, so restricts access only to the account holder who also holds the mobile linked to the bank account. Be it UPI or AEPS
based payment, the payment initiation is restricted only to the account holder. So, it mandates the need to have separate bank account for every individual and movement of funds from the account of the earning individual in the family to the bank accounts
of other family members, so that they can also make cashless payments. Definitely, it may not be affordable to have smart phone to every individual in the middle class or lower income group families, but Rupay card is an open option if the family member holds
a bank account.
Maintaining bank account for every individual in the family is possible but movement of funds among the bank accounts will leave fragmented balances and often will require re-accumulation of balances to make certain payments. RBI and NPCI may consider to
link more than one Mobile number, Aadhaar number to a single bank account so that family members can have access to funds in the earning member’s bank account to lead India to Cashless economy. Optionally, banks may allow creation of sub accounts to a primary
account or creation of virtual accounts to primary account so as to enable linking family member’s mobile number and aadhaar number to sub-account or virtual account.