NEW DELHI: In a bid to promote electronic transactions, Niti Aayog has asked National Payments Corporation of India (NPCI) to frame a scheme to incentivise people using digital mode for making payments through weekly and quarterly lucky draws.
"Niti Aayog has proposed Rs 125 crore budget for the award scheme to encourage digital payments in the country for moving towards less-cash society,” said an official. The official, however, added that it was still not clear whether there would be a cash prize of Rs 1 crore under the scheme, saying the programme is still at conceptualisation stage.
There has been a remarkable increase in both volume and amount of digital payment transactions since November 9, when the government demonetised high value notes of Rs 500 and Rs 1,000.
It is necessary to ensure that electronic payments are adopted by all sections of the society, NITI said. Under the proposal all consumers and merchants using digital payments shall be eligible.
All modes of digital payments — USSD, AEPS, UPI and RuPay Cards — will be eligible under the scheme. For merchants, transactions made on the POS machines installed at their locations would be considered. Niti Aayog has also proposed quarterly draw for grand prizes and asked NPCI that while designing the scheme the focus will be on poor, lower middle class and small businesses.
There will be two levels of incentive amounts available under the scheme. First, weekly lucky draw of the transaction IDs generated in that week. The contours of which are being finalised, it said.
“We need to encourage electronic payments and nudge the society to move from digital to digi-dhan,” Niti Aayog added.
NITI Aayog said that the detailed guidelines of the scheme shall be unveiled soon. However, it would be ensured that all those who have used digital payment systems after November 8 shall be eligible to participate in the scheme.
The scheme would also provide for recognition of state governments that looks to promote digital payment.