Going Cashless: Rs 226 Crore Awarded Under Lucky Grahak, DigiDhan Schemes
New Delhi:Â Niti Aayog, Prime Minister Narendra Modi's premier policy think tank, on Wednesday, said that more than 14 lakh consumers and 77,000 merchants were rewarded with Rs 226 crore for embracing digital payments since the launch of its two incentive schemes Lucky Grahak Yojana and DigiDhan Vyapar Yojana - on 25th December 2016.Â
The National Institution for Transforming India, popularly known as called NITI Aayog, has been organizing DigiDhan Melas in 100 cities over a period of 100 days in an attempt to encourage people from all walks of life to embrace digital transactions.
The program which remains open till April 14, 2017 picks 5,000 daily winners and over 14,000 weekly winners based on a lucky draw from a pool of customers and merchants using RuPay Card, BHIM/UPI and Aadhaar Enabled Payment Service.
The 100 days of the DigiDhan Melas will end with the Mega Draw on April 14th.
"Today around 8 billion transactions take place annually through digital payment methods. The government is planning to increase this to 25 billion transactions in the current year to bring an end to the shadow economy by reducing black money flowing into the system," a press release by the Niti Aayog said.
The think tank said that since demonetization in November last year, there has been a 584 per cent increase (0.3 to 4.5 million) in transactions made through the UPI. In this same period, payments using Adhaar have jumped 0.7 million to 2.7 million transactions, a jump of 1,352 per centÂ
BHIM, a UPI payment app launched by the Prime Minister on 30th December 2016, has been downloaded a record 18 million times since its launch, Niti Aayog said on Wednesday.
UPI is a payment system that allows money transfer between any two bank accounts by using a smartphone.
Â
-
Signature Play: The Classic Cocktail Is Dead. Or Is It?
Classic cocktails are disappearing from India's cocktail menus. But they're still being ordered, taught to bartenders and borrowed from. So, who's really having the last drink?
-
A New Samvat Wishlist: Inclusive Prosperity And Human Development
India has strengthened its economic foundations through infrastructure, digital access and enterprise. Its next growth chapter must deepen productivity, create better livelihoods and widen participation in prosperity.
-
Love, Sex Aur Dhokha: The Audacious Plot To Spy On Jensen Huang
A Taipei dinner, a Singapore chip buyer and a suspected Chinese asset: inside the alleged spy operation that got close to NVIDIA's Jensen Huang.
-
Ten Things I Learnt This Samvat
Patience can be a trap. Cheap stocks can stay cheap. Leverage can wipe you out. What did Samvat 2082 teach us? Niraj Shah writes on 10 lessons from the year gone by.
-
Talking Points This Week: Tech Nerves, FII Buying, And A Faraway Banking Shock
The global markets are not shining this Diwali. The exception in the large markets is, India.
-
Midterm Rally Lasted A Day. The Hard Reality Of A Divided US May Last Two Years | Opinion
Between a contested AI boom, a debt ceiling that arrives in 2027 and a president with every incentive to act alone, the next two years may prove more volatile than the first day's rally suggests.
-
Blue Wave Will Derail the AI Trade but Won't Dismantle the AI Era | Unhedged Position
The Democrats' sweep of the US Congress will see politics collide with economic forces both over the long and short term.
-
It's Time To Take The GST Council's Bet On Trust Global
Payment records can prove India's services exports, and clear, proportionate rules can bring foreign digital sellers into the tax net.
-
Opinion | India at 38: From Innovation Overperformer to Innovation Powerhouse
India now has 453 VC-backed deep science startups, 18 of them late-stage, after 117 percent growth since 2020. Laurus Labs, at USD 9.3 billion, is the most valuable deep science company in any middle-income economy outside China.
