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FM Proposes Rs 1,500 Cr-Scheme To Boost E-Payments; Drive Innovation By Fintech Cos
Cyient President and Chief Operating Officer Karthikeyan Natarajan said allocation of funds as incentives for promoting digital payments is a step in the right direction and a significant move in enhancing ease of doing business.
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The government on Monday proposed a Rs 1,500 crore-scheme to promote digital transactions in the country, a move that the industry believes will drive adoption of e-payments in smaller cities and spur innovation by fintech firms.
Delivering her Budget speech, Finance Minister Nirmala Sitharaman said there has been a manifold increase in digital payments in the recent past.
Rs 1,500 cr digital payments fund to increase penetration: Industry
By IANS |
Published on
Mon, Feb 1 2021 17:48 IST |
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. Online payment. (File Photo: IANS). Image Source: IANS News
New Delhi, Feb 1 : Although it is not clear how the Rs 1,500 crore fund proposed in the Budget to boost digital mode of payments will be spent, industry stakeholders have said that the move will spur innovation and help increase penetration of digital payments in the country. To give a further boost to digital transactions, I earmark Rs 1,500 crore for a proposed scheme that will provide financial incentive to promote digital mode of payment, Union Finance Minister Nirmala Sitharaman said during her Budget presentation on Monday.
PTI photo Outlook Web Bureau 2021-02-01T16:05:44+05:30 Union Budget 2021: Govt Proposes Rs 1,500-Crore Scheme To Boost Digital Payments outlookindia.com 2021-02-01T16:15:24+05:30
The government on Monday proposed Rs 1,500 crore-scheme to boost digital transactions in the country. This move will drive adoption of e-payments in smaller cities and spur innovation by fintech firms.
Finance Minister Nirmala Sitharaman in her Budget speech said there has been a manifold increase in digital payments in the recent past. To give a further boost to digital transactions, I earmark Rs 1,500 crore for a proposed scheme that will provide financial incentive to promote digital mode of payment, she said.