Government will promote digital transactions, know what is bank incentive scheme?


The involved financial institution will get 0.4 %, which can be a most of Rs 100, on the cost made via RuPay card on POS machines put in close to shopkeepers and e-commerce platforms. On the identical time, 0.15 % can be given on cost for trade sectors, which can be most of six rupees. Whereas, on cost of as much as two thousand rupees to the shopkeeper via BHIM UPI, the financial institution can be given 0.25 % of the transaction quantity. Other than this, 0.15 % can be given for the cost made for insurance coverage, mutual funds, training and railways. The length of this incentive scheme has been stored for 1 yr from April, 2022 and the monetary allocation for this has been restricted to Rs 2600 crore.

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