In a series of tweets, PM Narendra Modi said the schemes "will further incentivise digital payments"
Highlights
- Two schemes offer cash awards bonanza to promote digital transactions
- From Christmas, 15,000 winners to get Rs 1,000 each day for 100 days
- 7,000 weekly awards to be announced for consumers and traders
Prime Minister Narendra Modi has described as a "Christmas gift to remember" two schemes launched by the NITI Aayog on Thursday to promote cashless transactions, the "Lucky Grahak Yojana" and "Digi Dhan Vyapar Yojana".
In a series of tweets, PM Modi said the schemes "will further incentivise digital payments" and would be a big boost in the move towards "cashless and corruption-free India".
NITI Aayog CEO Amitabh Kant has said that the schemes will cover small transactions between Rs. 50 and Rs. 3,000 to encourage every section of the society to move towards digital payments.
From Christmas, the government will give a bonanza of cash awards to consumers and as well as traders.
A total of Rs 340 crore will be given in prizes for both customers and traders selected through lucky draws.
The first draw will be held on December 25 and the mega draw will take place on April 14, the birth anniversary of BR Ambedkar.
In the first draw, the National Payment Corporation of India (NPCI) will announce 15,000 winners who will get 1,000 rupees each day for 100 days.
7,000 weekly awards will be announced for consumers and traders each.
Only transactions made through the government issued RuPay Cards, the UPI (Unified Payment Interface), USSD (Unstructured Supplementary Service Data), and Aadhar-Enabled Payment Systems will be eligible for the lucky draws. The scheme will not cover those who use private credit cards and e-wallets of private companies.
Interacting with scholars and economists on Thursday, PM Modi said India is committed to prudent macro-economic policy, rule-based multilateral trading arrangements, responsible climate policy, and growth which creates jobs and reduces poverty.
(With inputs from PTI)