Telangana News

To encourage the cashless transactions, the Central government has announced to give daily, weekly and even mega cash incentives totalling Rs 340 crores to promote digital payments, starting Christmas.

Niti Aayog CEO Amitabh Kant announced 'Lucky Grahak Yojana’ and ‘Digi Dhan Vyapar Yojana’, adding that, both the schemes will cover small transactions between Rs 50 and Rs 3,000 to encourage every section of the society to move to the cashless transactions.

The first draw will happen on December 25th, Mr. Kant said, terming it as a Christmas gift to India. He further added that the mega draw will take place on April 14th, on the occasion of Dr. B.R. Ambedkar's birth anniversary.

For the next 100 days, starting December 25th, National Payment Corporation of India (NPCI) will announce 15,000 winners of Rs 1,000 each. There will be 7,000 weekly awards each for consumers and merchants.

“Focus of the Lucky Grahak and Digi-Dhan Yojanas is on the poor, middle class and small businesses so as to bring them into digital payments revolution,” Mr. Kant said.

As per the estimates, only 5% Indians use digital payment modes. For consumers, there will be mega awards of Rs 1 crore, Rs 50 lakh and Rs 25 lakh. In case of merchants, it has been fixed at Rs 50 lakh, Rs 25 lakh and Rs 5 lakh. Estimated expenditure of the scheme to incentivize digital payments is Rs 340 crore, Mr Kant added.