NITI Aayog promotes cashless payments, introduces Rs 340-crore lottery bonanza
Describing the gesture as a Christmas gift to citizens from government, NITI Aayog CEO Amitabh Kant added "This is imperative to make India a $10 trillion economy."
NITI Aayog CEO Amitabh Kant announced on Thursday that government will be launching a Lucky Graahak Yojana from Christmas till April 14.
Describing the gesture as Christmas gift to citizens from government, Kant added, "This is imperative to make India a $10 trillion economy."
He also announced a number of other schemes aimed to promote the use of digital transactions in the country and also moving to transactions using cards in the future.
Government also announced launching of Digi Dhan Vyapari Yojana to benefit merchants and announced mega prizes to the tune of Rs. 50 lakh, Rs. 25 lakh and Rs. 5 lakh for merchants which is likely to be announced on April 14. Also there will be a weekly draw carrying cash prizes of Rs. 1 lakh, Rs. 10,000 and Rs. 5,000 for citizens, added Amitabh.
He further added that all payments from November 8 to April 13 will be eligible for being considered for mega prizes of Rs. 1 crore, Rs. 50 lakh and Rs. 25 lakh.
Niiti Aayog also announced that from now onwards, all P2P and B2B transfers wouldn’t be charged, neither credit cards/ e-wallets.
Customers using USSD/Aadhaar-enabled transactions from rural GSM phones, will be eligible for prizes of Rs. 1,000 daily to be given for 15,000 consumers.
A reward of Rs. 1,000 cashback for 15,000 consumers who use NPCI-backed UPI/Rupay cards is also announced by the Niti Aayog, added Amitabh.
Earlier on Saturday, NITI Aayog said, it will be launching the incentives for consumers and merchants who use digital payments to benefit “poor, lower middle class and small businesses”.
The government said, it has instructed the National Payment Corporation of India (NPCI) to formulate the modalities of the new scheme, after taking into consideration the incentives for digital transactions announced by the Finance Ministry.
“All modes of digital payments — Unstructured Supplementary Service Data (USSD), Aadhaar Enabled Payment System (AEPS), Unified Payments Interface (UPI) and RuPay Cards — will be eligible,” adde Niti Aayog officials.
Officials, hailed the ban of old Rs 1000 and Rs 500 notes by Centre as a landmark decision to fight black money and saying that “these large denomination currencies have resulted in a number of ill-effects upon the economy,”