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Promotion of Payments through cards and digital means

News and Press Release - Dated:- 25-2-2016 - The Union Cabinet chaired by the Prime Minister Shri Narendra Modi has given its approval for introduction of steps for . The move aims at reducing cash transactions. Several short term (to be implemented within one year) and medium term measures (to be implemented within two years) have been approved for implementation by the Government Ministries/ Departments/ Organisations. will be instrumental in reducing tax avoidance, migration of Government pay .....

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of appropriate acceptance infrastructure in Government Departments/ organisations; rationalization of Merchant Discount Rate (MDR) on card transactions and a differentiated MDR framework for some key transaction segments; mandating payments beyond a prescribed threshold only in card/ digital mode; introduction of formulae linked acceptance infrastructure by the stakeholders of certain card products; rationalisation of telecom service charges for digital financial transactions; promotion of mobil .....

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