Cashless Economy

Govt to launch Lucky Grahak Yojana, Digi-Dhan Vyapar Yojana

The government will launch Lucky Grahak Yojana for Consumers and Digi-Dhan Vyapar Yojana for Merchants to encourage people to move towards digital transactions by offering incentives. The government wants both consumers and merchants to shift to digital payment methods. Under Lucky Grahak Yojana, winners will be selected on a daily and weekly basis. Under Digi-Dhan Vyapar Yojana, winners will be selected on a weekly basis. The schemes will culminate on 14th April 2017 with a mega draw. The schemes will be implemented by National Payments Corporation of India. Only those transactions that happen through RuPay Cards, Unstructured Supplementary Service Data (USSD), Unified Payment Interface (UPI) and Aadhaar Enabled Payment System (AEPS) will be eligible under these schemes. The draws will be held in 100 different cities across the country. In addition, digital payments adoption fair called DigiDhan Mela will be held in which the banks and other shareholders will help citizens to learn how to make digital transactions.

Tags:

Advertisement

Tripura to opt for cashless payment system in public transactions

Tripura Government has decided to opt for cashless payment system in public transactions beginning this New Year. To this effect, the government has initiated the process of opening bank accounts including RuPay cards for nearly 20% people who does not have bank accounts till now. Similarly, opening of bank accounts by tea workers is also carried out at a full swing. The government expects to make all transactions in state government departments in digital mode beginning this New Year. The state government is also improving infrastructure at various levels including the government medical college and hospital to help patients make digital transactions.

Tags:

Government approves ordinance on Payment of Wages Act

The union cabinet has approved the ordinance on Payment of Wages Act that relates to the payment of wages. The ordinance facilitates central government administered establishments to pay salaries by cheque or credit salary in employees’ bank accounts. Accordingly, the ordinance will amend Section 6 of the Payment of Wages Act, 1936. It should be noted that the payment can also be made through existing provisions of payment in currency notes or current coin.

Since Labour is in the concurrent list, the ordinance would not be applicable to the local state administered institutions unless they too adopt this measure. The states like Andhra Pradesh, Uttarakhand, Punjab, Kerala and Haryana have already made provisions for payment of wages through cheque and electronic transfers by making amendments to their respective state-level Acts.

As the ordinance will be valid for only 6 months, the government needs to pass it in Parliament before that time period. The new ordinance will help to promote digital and cashless economy and will also check under-reporting of salaries and end the exploitation of wage workers. At present, a large chunk of the organised sector like factories, tea gardens and construction companies, pay the wages to their employees by cash.

Tags:

Advertisement

123