Central Government Employees News

Committee on Digital Payments Pursuant to the Government initiative to promote digital payments, NITI Aayog vide order dated on 30th November 2016 constituted a Committee of Chief Ministers with Shri Chandra Babu Naidu, Hon’ble Chief Minister of Andhra Pradesh as the Convener for suggesting measures to seamlessly enable all sections of the population to migrate to the digital mode of payment as well as to recommend measures that would enable India to leapfrog into the advanced digital payment systems that compares with the best global standards. The Committee is composed of the following members: 1 Shri Chandrababu Naidu, Hon’ble Chief Minister of Andhra Pradesh – Convener 2 Shri Naveen Patnaik, Hon’ble Chief Minister of Odisha – Member 3 Shri Shivraj Singh Chouhan, Hon’ble Chief Minister of Madhya Pradesh – Member 4 Shri Pawan Kumar Chamling, Hon’ble Chief Minister of Sikkim – Member 5 Shri V. Narayanasamy, Hon’ble Chief Minister of Puducherry – Member 6 Shri Devendra Fadn...

Charges on Digital Transactions Digital financial transactions are a part of the Government’s strategy to create histories of transactions, including the associated credit, and thereby enable small and micro enterprises to access formal credit, improve tax compliance, and mainstream financial savings into the banking system, which will help mobilise such savings for economic growth. All payment systems including currency entail costs, which are borne among transacting parties and payment service providers, and the cost structures of various systems differ. Payment systems also differ in the advantages they offer to transacting parties. E.g., digital transactions can be made without having to access cash, and they offer an opportunity to make payments anytime and from anywhere, without loss of interest income. Transacting parties select a payment system not only on the basis of cost but keeping in mind such advantages as well. State Bank of India has apprised that three cash depo...

Lucky Grahak Yojana and Digidhan Vyapar Yojana for digital payments of less than Rs.1600 Mega Prizes of Rs. 1 crore, Rs.50 lakh and Rs. 25 lakh for Consumers making digital payments of less than Rs.1600 Press Information Bureau  Government of India NITI Aayog 09-April-2017 16:58 IST Mega Prizes of Rs. 1 crore, Rs.50 lakh and Rs. 25 lakh for Consumers making digital payments of less than Rs.1600 President picks up the lucky winners from the 100th draw of lots under Digital Payments Promotion Schemes; lauds Aadhar and says India is at the cusp of a digital revolution Prime Minister to felicitate the winners on 14th April, Ambedkar Jayanti in Nagpur Digital transactions have gathered momentum giving a fillip to the less cash economy post demonetization thanks to the initiatives taken by the Government. NITI Aayog’s two schemes- Lucky Grahak Yojana for consumers and the Digidhan Vyapar Yojana for the merchants have played a catalytic role in making it a mass movement. ...