Online Transaction / Modi government's big decision, those doing small UPI and Rupay Debit Card transactions

Online Transaction: Modi government has taken a big decision to increase online transactions. The government has now announced incentives on RuPay Debit cards and low value BHIM-UPI transactions. This will benefit from a common user to a businessman. Let us tell you, the Central Government has approved an incentive scheme of Rs 2,600 crore for this.

Decision taken under the chairmanship of PM

A decision in this regard was taken in the meeting of the Cabinet Committee on Economic Affairs (CCEA) chaired by Prime Minister Narendra Modi. Briefing the media, Union Minister Bhupendra Yadav said that these incentives would be given on the use of RuPay Debit Card and BHIM UPI.

Under the scheme, financial incentives will be provided to banks for promoting Point of Sale (PoS) and e-commerce transactions using RuPay and UPI in the current financial year. In her budget speech last year, Union Finance Minister Nirmala Sitharaman announced the government's intention to continue the financial support for digital payments announced in the previous budget, with a focus on promoting the use of payments platforms and providing a better platform for them. Was asked to create an atmosphere.

Record of digital transaction 782.9 million times

The scheme will enable UPI Lite and UPI123PAY to facilitate and promote easy and user-friendly digital payments. UPI has achieved a record of 782.9 crore digital transactions in the month of December 2022 with a value of Rs 12.82 lakh crore.

Cabinet approves setting up of 3 new cooperative societies

The cabinet also approved the plan to set up three new cooperative societies to promote exports, organic products and seeds. He said that the cabinet has approved the establishment of National Export Society, National Cooperative Society for Organic Products and National Level Multi-State Seed Cooperative Society.