The government declared an incentive of Rs 10 for every individual who has transited to digital payment mode and has undertaken at least two successful transactions through it.
The government declared an incentive of Rs 10 for every individual who has transited to digital payment mode and has undertaken at least two successful transactions through it. The amount of money is to be provided by the government to district collectors, district magistrates and deputy commissioners.
Since demonetisation, Prime Minister Narendra Modi has been repeatedly appealing Indians to go “cashless” by opting digital transactions. In all his rally and radio address, he emphasized the use of e-payments and card payments. In the Parivartan Rally in Moradabad on Saturday, PM Modi asked people to take help of volunteers appointed to teach them about digital transactions. In a further step to encourage it, the government announced incentive for those who have shifted to digital payment mode from cash transactions.
The declaration further stated that the incentive will be provided to those who have done at least two successful digital transactions. These transactions could be from any of the five payment mode including Unified Payment Interface (UPI), USSD technology, Adhar card enabled payment mode, e-wallets along with card payments including RuPay cards, debit cards, credit cards and prepaid cards.
However, any further details about the incentive such as its distribution, commencement and the time period for which it will be applicable among others are yet to be disclosed.
The country is facing severe cash crunch post demonetisation of Rs 500 and Rs 1,000 currency notes. Common people constantly found queuing up outside banks and ATMs to withdraw cash. Though there has been an increase in the e-payment and card payments in the past few weeks, it is interesting to see the implementation of this decision and its effect.