Modi govt approves UPI incentive scheme: What is it and how will it help small merchants?
2 days, 23 hours ago

Modi govt approves UPI incentive scheme: What is it and how will it help small merchants?

India TV News  

Modi govt approves UPI incentive scheme: What is it and how will it help small merchants? UPI incentive scheme: The scheme aims to promote low-value BHIM-UPI transactions will be implemented at an estimated cost of Rs 1,500 crore. UPI incentive scheme: In a move aimed at empowering small merchants and easing digital payments for everyday consumers, the central government has cleared a Rs 1,500 crore incentive scheme to promote small-value BHIM-UPI transactions up to Rs 2,000. The initiative, titled 'Incentive Scheme for Promotion of Low-Value BHIM-UPI Transactions Person to Merchant ' for the financial year 2024-25, was approved by the Cabinet chaired by Prime Minister Narendra Modi.

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History of this topic

Cabinet approves ₹1,500 crore to incentivise low-value UPI transactions
Trending News
3 days, 11 hours ago

Cabinet approves ₹1,500 crore to incentivise low-value UPI transactions

The Hindu  

The Union Cabinet on Wednesday approved an incentives scheme worth approximately ₹1,500 crore to promote UPI transactions below ₹2,000 for 2024-25, an official statement said. "The Union Cabinet chaired by Prime Minister Narendra Modi today approved the 'Incentive Scheme for promotion of low-value BHIM-UPI transactions Person to Merchant ’ for the financial year 2024-25," the statement said. The incentive scheme …

Union Cabinet approves incentive scheme for promotion of low-value UPI transactions among small merchants
Top News
3 days, 11 hours ago

Union Cabinet approves incentive scheme for promotion of low-value UPI transactions among small merchants

Op India  

The Union Cabinet chaired by Prime Minister Narendra Modi on Wednesday approved the ‘Incentive Scheme for promotion of low-value BHIM-UPI transactions Person to Merchant ’ for the financial year 2024-25. Incentives at the rate of 0.15 per cent per transaction value will be provided for transactions upto Rs 2,000 pertaining to the category of small merchants. For all quarters of …

Government to continue footing the bill for UPI payments under Rs 2,000
Top News
3 days, 23 hours ago

Government to continue footing the bill for UPI payments under Rs 2,000

India Today  

The Union Cabinet has approved the extension of the Rs 1,500 crore incentive scheme for small-value UPI transactions. "The Union Cabinet chaired by the Prime Minister Shri Narendra Modi today approved the ‘Incentive Scheme for promotion of low-value BHIM-UPI transactions Person to Merchant ’ for the financial year 2024-25 in the following manner: i. The government had earlier said that …

UPI achieves record 15,000 crore transactions worth ₹223 Lakh Crore by Nov 2024
3 months, 1 week ago

UPI achieves record 15,000 crore transactions worth ₹223 Lakh Crore by Nov 2024

Hindustan Times  

The Finance Ministry said on Saturday that from January to November of this year, 15,547 crore transactions of ₹223 lakh crore were handled through the Unified Payments Interface. From January to November of this year, 15,547 crore transactions of ₹ 223 lakh crore were made over the Unified Payments Interface, "demonstrating its transformative impact on financial transactions" in India.) The …

Data | UPI payments: relief for users, a headache for banks
1 year, 9 months ago

Data | UPI payments: relief for users, a headache for banks

The Hindu  

The dizzying array of daily limits on United Payments Interface transactions set by apps and banks — both in terms of value and volume — has put the spotlight on the rapid rise in such transactions in India in recent years. Such limits were introduced given the surge in the volume of UPI transactions in India in recent years after …

Big boost to Digital India! Govt approves Rs 2,600cr incentive scheme for RuPay, BHIM-UPI transactions
2 years, 2 months ago

Big boost to Digital India! Govt approves Rs 2,600cr incentive scheme for RuPay, BHIM-UPI transactions

India TV News  

In a big boost to Digital India initiative, the Centre has approved has approved an incentive scheme for promotion of RuPay Debit Cards and low-value BHIM-UPI transactions for a period of one year from April 2022. The approved incentive scheme will focus on promoting Point-of-Sale and e-commerce transactions using RuPay Debit Cards and low-value BHIM-UPI transactions for the current financial …

Centre will spend Rs 2,600cr on RuPay
2 years, 2 months ago

Centre will spend Rs 2,600cr on RuPay

Deccan Chronicle  

NEW DELHI: The Union Cabinet on Wednesday approved a Rs 2,600-crore scheme for promoting ‘RuPay’ debit cards and low-value ‘BHIM-UPI’ transactions. Sharing about the decision, Union minister Bhupender Yadav said that the Union Cabinet has approved the incentive scheme for promotion of RuPay Debit Cards and low-value BHIM-UPI transactions for a period of one year from April 2022. Under the …

Modi cabinet clears Rs 1,300 crore incentive scheme to promote digital payments
3 years, 3 months ago

Modi cabinet clears Rs 1,300 crore incentive scheme to promote digital payments

India TV News  

Highlights Cabinet on Wednesday approved Rs 1,300-crore incentive scheme to promote digital transactions Approved scheme will cover reimbursement on digital transactions of up to Rs 2,000 The scheme was formulated in compliance with the Budget announcements The Union Cabinet on Wednesday approved a Rs 1,300-crore incentive scheme to promote digital transactions using UPI and Rupay debit cards, Electronics and IT …

Alert! Are you BHIM UPI user? Then here's good news for you; check details
5 years, 6 months ago

Alert! Are you BHIM UPI user? Then here's good news for you; check details

India TV News  

BHIM UPI Charges: In a move to boost digital payments in small and large merchants' transactions across the country, National Payments Corporation of India has revised BHIM UPI charges for large ticket transactions. NCPI said it ha capped the BHIM UPI merchant discount rate for large ticket transactions at maximum Rs 100 and made it ZERO at offline merchants for …

President praises govt’s digital payments initiatives
6 years, 1 month ago

President praises govt’s digital payments initiatives

Live Mint  

New Delhi: In the last four-and-a-half years the government has worked extensively to ramp up the digital banking and payments infrastructure of the country, said President Ram Nath Kovind on Thursday in his address to the joint sitting of two Houses of Parliament. “Jan Dhan Yojana is playing an important role in facilitating cost-effective digital transactions in the country through …

Digital payments: Over 400 mn UPI transactions worth Rs 59,835 cr clocked in September; up 30% over August
6 years, 5 months ago

Digital payments: Over 400 mn UPI transactions worth Rs 59,835 cr clocked in September; up 30% over August

Firstpost  

New Delhi: Monthly transactions through unified payments interface increased by more than 30 percent month-on-month to 405.87 million in September, totalling over Rs 59,835 crore in value, according to the National Payments Corporation of India data. About 312.02 million UPI transactions totalling Rs 54,212.26 crore were clocked in the month of August 2018. Of the total, government-backed BHIM UPI registered …

A step closer to cashless economy : BHIM-UPI hits a record high of 1 crore transactions in a day
6 years, 9 months ago

A step closer to cashless economy : BHIM-UPI hits a record high of 1 crore transactions in a day

Op India  

A great milestone in the growth of digital payment in India was achieved on 20th of June 2018 when BHIM-UPI transactions hit a record high of 1 crore transactions in a day. Prime Minister Narendra Modi launched a unique digital payment platform called BHIM-UPI in December 2016. It is pertinent to note that a simple mobile based account to account …

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