Govt Declares Rs 10 Incentive For Shifting to Cashless Transaction
Online transactions can be made through any mode of digital payments to avail of this benefit.
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The central government declared an incentive of Rs 10 for individuals who have have shifted to online payment mode and undertaken at least two successful digital transaction.
The small amount of money is to be provided by the government to the district collectors, district magistrates and deputy commissioners. However, details such as distribution, commencement and time period within which the incentive will be available hasn’t been disclosed yet by the government.
The online transactions can be made through any of the modes of digital transaction –Unified Payment Interface (UPI), USSSD technology, Adhar card enabled payment mode, RuPay, debit, credit and prepaid cards.
The country plunged into a liquidity crisis since the older currencies of Rs 500 and Rs 1000 were demonetised followed by a dearth of availability of cash in banks and ATMs. Prime Minister Narendra Modi took the opportunity to appeal to Indians to to shift to online transaction, urging for a “cashless” economy in India.
(Source: The Financial Express)
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