Digital Transactions Have Gone Up Since Demonetisation, Says Jaitley

  • Finance Minister Arun Jaitley ends his address.
  • Government bodies not to charge transaction fees through digital payment.
  • Discount for customers paying state-run insurance online firms.
  • No service tax on transactions upto Rs 2000 if card is used.
  • Arun Jaitley says, dealing in cash has economic costs, so the government is promoting payment by credit, debit cards and e-wallets.
  • 2 POS machines will be provided to villages with 10,000 population, 1 lakh villages to be selected:FM Jaitley
  • 4.5 cr consumers buy petrol and diesel worth Rs 1,800 cr daily; in one month, Digital Payments have doubled to 40 %.
  • India was using excessive amount of cash until November 8
  • Discount on insurance premiums applicable only for new policies.
  • RFID and FASTag card holders to get 10% discount on toll plazas, national highways for digital payments.
  • Also, 5% discount on digital payment mode for railway facilities like catering, retiring rooms, says Arun Jaitley
  • Fin ministry as a consequence is asked to issue directives to banks to allow embassy officials with IDs to withdraw money on priority:MEA
  • Insurance cover worth Rs.10 lakhs for those who book Railway tickets through digital mode, says Arun Jaitley
  • People buying monthly seasonal tickets in the Suburban railway networks through digital payment mode, to get 0.5% discount.
  • This is effective from Jan 1st 2017, starting from the Mumbai suburban railways.
  • NABARD will give Rupay card to people who have Kisan Credit Card. Govt will support RRBs,Cooperative Banks through NABARD to issue “Rupay Kisan Cards” to 4.32 cr Kisan Credit Card holders
  • Petrol/diesel cheaper for those who pay by digital mode, to get 0.75% discount, declares Finance Minister.
  • RBI has been releasing currency as per schedule. The aim of Demonetisation has been to move towards digital transactions.
  • Cash transactions kam karne ki koshish huyi hai (Efforts have been made to resude cash transactions).
  • Today its one month since PM announced demonetisation decision, says FM Jaitley

Finance Minister Arun Jaitley addresses a press conference on the day a month has elapsed post demonetisation.