TaxTMI 
TaxTMI 
Digital Payment Revolution : Facts & Figures
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....igital Payment Revolution : Facts & Figures <br>News and Press Release<br>Dated:- 14-4-2017<br><BR>Digital Payment Revolution : Facts & Figures Digital Payments Progress * Lucky Grahak Yojana and Digi Dhan Vyapar Yojana launched on 25.12.2016 * 100 Digi Dhan Melas held in 100 cities all over the country. * 100 day long information, education and communication campaign led by NITI Aayog to ....
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....make digital payments a mass movement in India. * At least 15,000 institutions have gone cashless across just these 100 rural and urban cities across each one of the 27 states and 7 UTs. * With a turnout of over 15 lakh from cities, small towns and villages, the melas have enabled lakhs to open new bank accounts as well as create new Aadhaar cards. * Rs.258 crore of prize money won by 16 la....
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....kh winners, including customers and merchants belonging to different corners of the country and from varied walks of life. * The lucky winners of the Mega Draw felicitated by the Prime Minister in Nagpur. * BHIM App and QR Codes launched * BHIM App has already created a new world record by registering 1.9 crore downloads in just four months since its launch in December, 2016. * India haso ....
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....seen an unprecedented increase in number of transactions made using several user-friendly digital payment methods viz. UPI, USSD, AePS. * Volume of all digital transactions increased by about 23 times with 63,80,000 digital transactions for a value of ₹ 2425 crore in March 2017 compared to 2,80,000 digital transactions worth ₹ 101 crore till November 2016. * Aadhaar Enabled Payment....
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....s have increased from 2.5 crore in November 2016 to over 5 crore in March 2017. * Immediate Payment Service (IMPS) transactions have also increased from 3.6 crore to 6.7 crore during the same period. BHIM-Aadhaar, the merchant interface of the BHIM App * It will pave the way for making digital payments by using the Aadhaar platform. * Any Indian citizen can pay digitally using their biometr....
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....ic data like their thumb imprint on a merchants' biometric enabled device which could be smart phone having a biometric reader. * Any citizen without access to smart phones, internet, debit or credit cards will be able to transact digitally through the BHIM Aadhaar platform. * Already, 27 major banks are now on board with 7.15 lakh merchants so that they can start accepting payments using BHIM....
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.... Aadhaar. ONBOARDING * Total Onboarding (including syndicate update): 7.15 lakhs ,Transactions: 12.62 lakh * Aadhar:1.75 Lakh * BHIM/UPI 4.79 lakh * QR Code:1.68 lakh BHIM - Cash back and Referral Bonus Schemes * To ensure that the culture of digital payments permeates down to the grassroots. * Under the Referral bonus scheme both the existing user who refers BHIM and the new user wh....
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....o adopts BHIM would get a cash bonus credited directly to their account. * Under the Cashback scheme the merchants will get a cash back on every transaction using BHIM. Both schemes are to be administered by MEITY and implemented by NPCI. * Outlay of ₹ 495 crore for a period of six months. 75 Townships declared Less Cash Townships * In order to achieve the target of 2500 crore digital....
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.... transactions during the current financial year, the Prime Minister announced about 75 townships spread all over India as 'less-cash townships'. * A less-cash township is one where the deployment of payment acceptance infrastructure is complete, all the families in the township are covered under training programs. * Selected townships on the basis of third party assessment by Price Waterhouse ....
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....Coopers (PWC) * Townships with more than 80% of the total number of transactions being done through digital modes of payments during the review period are included in this list. * These townships are likely to generate over 1.5 lakh digital transactions every day thereby leading to about 5.5 crore digital transactions in a year.<BR> News - Press release - PIB....