Government bats for digital transactions: Railway tickets, petrol/diesel to be cheaper via e-payments, says FM Arun Jaitley

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Updated: December 08, 2016 6:52 PM

In a significant speech today to boost the demonetisation dividend as much as possible, FM Arun Jaitley announced a string of measures and sops to ease the transition for the public to e-payments.

Demonetisation, Digital Payments, Online Transactions, Arun Jaitley, Note Ban, Railways, Online Booking, BJP Government, Govt bats online transactionsIn a significant speech today to boost the demonetisation dividend as much as possible, FM Arun Jaitley announced a string of measures and sops to ease the transition for the public to e-payments. (Source: ANI)

In a significant speech today to boost the demonetisation dividend as much as possible, FM Arun Jaitley announced a string of measures and sops to ease the transition for the public to e-payments. This has been done exactly a month after PM Narendra Modi announced that he was imposing a ban on Rs 500 and Rs 1,000. Addressing a press conference here today, Jaitley focused on some pivotal measures to curb the inconvenience caused due to the cash crunch and how digital transactions can boost India towards being a cashless economy.

Starting his speech, Jaitley pointed out the one month anniversary of demonetisation. He said, “Today its one month since PM announced demonetisation decision and in last 30 days we have seen major changes in economy.” He went ahead further by adding that the aim of demonetisation has been to move the country towards digital transactions. Further in his speech he also mentioned that the cash requirement is coming down across the country and digital sales have increased by 20-40 per cent. He also said that the RBI is releasing currency as per schedule.

Here are 10 top snippets from his speech today:

i. RBI has been releasing currency as per schedule. The aim of Demonetisation has been to move towards digital transactions.

ii. Petrol/diesel cheaper for those who pay by digital mode, to get 0.75 per cent discount.

iii. NABARD will give Rupay card to people who have Kisan Credit Card.

iv. People buying monthly seasonal tickets in the Suburban railway networks through digital payment mode, to get 0.75 per cent discount, effective from January 1, 2017.

v. Insurance cover worth Rs.10 lakhs for those who book Railway tickets through digital mode.

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vi. Also, 5 per cent discount on digital payment mode for railway facilities like catering, retiring rooms.

vii. 10 per cent discount on RFID and FASTag procured through digital payments at toll plazas across all national highways.

viii. Buying general, Life Insurance policies from PSU insurers’ websites and premium to get 10 per cent and 8 per cent discount, respectively.

ix. 2 PoS (Point of Sale) machines will be given to villages with 10,000 population, 1 lakh villages to be shortlisted for the same.

x. Government departments & PSUs to ensure transaction and MDR charges are not borne by customers for public dealings

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