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Under the scheme, banks would be provided financial incentives for promoting Point of Sale (PoS) and e-commerce transactions using RuPay and UPI in the current financial year. 📰 Government Clears Rs 2,600 Crore Scheme to Promote RuPay Debit Card, Low Value BHIM-UPI Transactions.

The inexpensive medium for cashless transactions has been gaining traction month-on-month and 381 banks are live on it. UPI transactions have increased dramatically in both volume and value terms over the last year, Spice Money founder Dilip Modi said. UPI Payments Touch Record High of Rs 12.82 Lakh Crore in December 2022.