Budget 2017: Bonus, cash-back schemes to promote BHIM

Govt hopes to accelerate BHIM usage

GN Bureau | February 1, 2017


#Cashless Economy   #Budget 2017   #BHIM  

The government will promote BHIM, its mobile-based payment system, with  'referral bonus' and 'cash back' schemes, finance minister Arun Jaitley announced in the 2017 budget.

The government's BHIM stagnates at five million downloads.

Jaitley also announced that a merchant version of the IDFC Aadhaar Pay system will be launched soon. Aadhaar Pay currently allows users to make direct payments to each other without debit cards or other devices via bank accounts that have been linked to the Aadhaar number. The merchant version will allow shops and others to accept payments from Aadhaar Pay. Some 20 lakh Aadhar-compatible PoS machines will be deployed to popularise Aadhaar-based payments.

The finance minister also announced plans to deploy 10 lakh PoS machines across the country.

Comments

 

Other News

TRP-driven model bred irresponsibility: Sudhir Chaudhary

News profession is organic in nature, requires responsibility and discipline, and there is no room for mistake. To maintain high standards of accuracy you need discipline and hygiene in the newsroom. Sudhir Chaudhary, editor in chief of Zee News, Zee Business and Wion, has said that a TRP-driven business m

This Mumbai NGO empowers children with skills

When Dharmendra Pandey, a fruit-seller had to leave Mumbai after the imposition of the lockdown during the Covid-19 pandemic, and return to his village in Uttar Pradesh, he was staring at economic uncertainties ahead. Little did he know that his 16-year-old son, Mahavir, had acquired skills that would come

Masks: Awareness: near-total, compliance: half-way

Wearing a face mask is the first line of defence against the novel coronavirus, along with maintaining social distance and frequently washing hands with soap. More than six months after the outbreak of Covid-19, nearly 90 percent of people in India have become aware of the necessity of wearing a face mask,

Covid-19: Daily recoveries cross 1 lakh mark, new cases far fewer

Is India finally gaining an upper hand over the Covid-19 pandemic? After weeks of new cases hitting 90,000-plus every day, the tide seems to be turning, as the number came down to 75,083 on Tuesday, and the recoveries were not only higher than that but crossed the 1 lakh mark too. The countr

A travelogue of an inner pilgrimage

Sit Your Self Down A Novice’s Journey into the Heart of Vipassana By Gayatri Jayaraman Hachette India, 212 pages, Rs 399   As stress and strife increase in daily life, more and more people are turning to meditation as an all

Vote in the time of Covid: EC hosts global webinar

On completion of one year of the chairmanship of the Association of World Election Bodies (A-WEB), the Election Commission (EC) of India on Monday hosted an international webinar on the theme of “Issues, Challenges and Protocols for Conducting  Elections during COVID-19 : Sharing Country

Archives

Current Issue

Opinion

Facebook    Twitter    Google Plus    Linkedin    Subscribe Newsletter

Twitter