Prime Minister Narendra Modi has described the Lucky Grahak Yojana and Digi Dhan Vyapar Yojana as a strategic push towards increased cashless transactions.
In a series of tweets, Mr Modi said, the two schemes will give a big boost to move towards cashless and corruption free India. The government yesterday launched two schemes - Lucky Grahak Yojana and Digi Dhan Vyapar Yojana to encourage cashless transactions in the country. Terming the two schemes as a Christmas gift to remember, the Prime Minister said, the move will further incentivise digital payments.
Announcing the government's decision, Niti Aayog CEO Amitabh Kant said both the schemes will cover small transactions between 50 and 3,000 rupees to encourage every section of the society to move to digital payments.
To promote digital payments post demonetisation, the government will give daily, weekly and mega cash awards totalling 340 crore rupees for consumers as well as merchants beginning the Christmas Day. Mr Kant said the first draw will happen on December 25 and the mega draw on April 14, the birth anniversary of Bharat Ratna Dr BR Ambedkar.
National Payment Corporation of India (NPCI) will announce 15,000 winners of 1,000 rupees each for next 100 days, starting December 25. There will be 7,000 weekly awards each for consumers and merchants. He said, focus of Lucky Grahak and Digi-Dhan Yojana is on poor, middle class and small businesses so as to bring them into digital payments revolution.