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The Union Cabinet led by Prime Minister Narendra Modi on Wednesday approved an incentive scheme worth Rs 1,300 crore for the promotion of RuPay Debit Cards and low-value (up to Rs 2,000) BHIM-UPI transactions (person-to-merchants) in the country.
The scheme will incur an expense of around Rs 1,300 crore.
Union Cabinet on Wednesday approved a budget of Rs 76,000 crore for designing and manufacturing semiconductor chips in India.
The Union Cabinet has approved a Rs 1,300-crore incentive scheme to promote transactions made via UPI and Rupay debit cards.
NEW DELHI, Dec 15: The Union Cabinet today approved a Rs 1,300-crore incentive scheme to promote digital transactions using UPI and Rupay debit cards, Electronics and IT Minister Ashwini Vaishnaw said. The Minister said that the government will reimburse transaction charges levied on digital payments made by persons to the merchant as part of the merchant discount rate (MDR). “In the coming one year…The government will invest around Rs 1,300 crore so that more and more people move towards digital […]