NITI Aayog to Provide Rs. 5 Lakh to each district to Promote Digital Payment

NITI Aayog to Provide Rs. 5 Lakh to each district to Promote Digital Payment To encourage each district in the country to encourage digital payments for day to day financial transactions without fear, the NITI Aayog has taken an initiative to transfer Rs.5 lakh to each district to implement the move.  Aim: to give a boost to cashless digital payment systems across districts, talukas and

panchayats. The central government has taken number of measures such as incentives for digital payments for day to day financial transactions like buying or selling goods/services, and transferring money to promote the transition to the cashless digital payment systems. For availing the incentive, district administration will have to use the funds to increase the number of mobile and Aadhar cards linked to bank accounts, issue of Rupay cards and PIN numbers and download of apps.

The district collector, commissioner or magistrates would have ensure that individuals niti-aayogtransiting to digital payment mode should do at least two successful transactions by any of the given five methods:

1.Unified payment interface (UPI),

2.Unstructured Supplementary Service Data (USSD),

3.AadhaarEnabled Payments,

4.E-wallets and

5.Rupaydebit/credit/prepaid cards.

vi. The top 10 best performing districts of India will be awarded the Digital Payment Champions of India Award by NITI Aayog.

vii. The 50 panchayats which go cashless will be awarded digital payment award of honour.