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TMI BlogGuidelines for the promotion of payments through cards and digital meansX X X X Extracts X X X X X X X X Extracts X X X X ..... y citizen along with ability to conduct card/ digital transactions. ii. Digitalize Government collections by equipping each collection point with a method to accept card/ digital payments. iii. Migrate payment transactions from cash dominated to non-cash through incentivization of card/ digital transactions and disincentivization of cash based transactions. iv. Enhance acceptance infrastructure in the country to promote digital transactions. v. Encourage corporates, institutions and merchant establishments to facilitate card/ digital payments. 4. Definition Digital transactions are defined as transactions in which the customer authorizes the transfer of money through electronic means, and the funds flow directly from one account ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... hall facilitate the use of existing open-loop systems issued by a bank for multi purpose use, including for making transit payments with a dedicated application (eg. Toll fees, metro rail and bus services, etc.). iii. Department of Financial Services/ RBI shall ensure that each eligible account holder under PMJDY may be provided access to the digital financial services in addition to the 'RuPay Card'. iv. Department of Electronics & Information Technology shall formulate an action plan to ensure Government Departments/Organisations introduce appropriate acceptance infrastructure and facilitate collection of all revenue, fee, penalties etc., through card/ digital means beyond a specified threshold, through 'PayGov India' ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... f Revenue/ Department of Financial Services shall mandate payments beyond a prescribed threshold only in card/ digital/cashless mode. C. Creating Acceptance Infrastructure i. Department of Financial Services/ RBI shall introduce of formulae linked acceptance infrastructure for different stakeholders of certain card products through appropriate ratio of POS terminals/ mobile POS terminals to cards issued or other means. The possibility of creating an Acceptance/ Financial Inclusion Fund for the purpose shall be explored. ii. Department of Financial Services/ RBI shall re-examine requirements under PML Act and Rules, for bringing Uniform (Know Your Customer) KYC norms based on an authorised identity for all payment systems, including Un ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... herein, in case of a fraudulent transaction, the money will be credited back to customers' account and blocked and subsequently released after the investigation is complete, within maximum of 2-3 months; (b) to strengthen the role of banking ombudsman to provide greater customer confidence and (c) to formulate a comprehensive customer protection policy for transactions through cards and digital means. ii. Department of Financial Services/RBI shall take steps to optimally use funds under Depositor Education and Awareness Fund (DEAF) for expanding acceptance infrastructure and conducting awareness campaigns for a less cash society. 7. Medium Term Steps The Medium Term Steps for Promotion of Payments through Cards/ Digital Means, whic ..... X X X X Extracts X X X X X X X X Extracts X X X X
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