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TMI BlogDigital Payment Revolution : Facts & FiguresX X X X Extracts X X X X X X X X Extracts X X X X ..... Digital Payment Revolution : Facts & Figures - News and Press Release Dated:- 14-4-2017 - News - Digital Payment Revolution : Facts Figures Digital Payments Progress Lucky Grahak Yojana and Digi Dhan Vyapar Yojana launched on 25.12.2016 100 Digi Dhan Melas held in 100 cities all over the country. 100 day long information, education and communication campaign led by NITI ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Aayog to make digital payments a mass movement in India. At least 15,000 institutions have gone cashless across just these 100 rural and urban cities across each one of the 27 states and 7 UTs. With a turnout of over 15 lakh from cities, small towns and villages, the melas have enabled lakhs to open new bank accounts as well as create new Aadhaar cards. Rs.258 crore of prize money won by ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 16 lakh winners, including customers and merchants belonging to different corners of the country and from varied walks of life. The lucky winners of the Mega Draw felicitated by the Prime Minister in Nagpur. BHIM App and QR Codes launched BHIM App has already created a new world record by registering 1.9 crore downloads in just four months since its launch in December, 2016. India has ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... o seen an unprecedented increase in number of transactions made using several user-friendly digital payment methods viz. UPI, USSD, AePS. Volume of all digital transactions increased by about 23 times with 63,80,000 digital transactions for a value of ₹ 2425 crore in March 2017 compared to 2,80,000 digital transactions worth ₹ 101 crore till November 2016. Aadhaar Enabled Payment ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... s have increased from 2.5 crore in November 2016 to over 5 crore in March 2017. Immediate Payment Service (IMPS) transactions have also increased from 3.6 crore to 6.7 crore during the same period. BHIM-Aadhaar, the merchant interface of the BHIM App It will pave the way for making digital payments by using the Aadhaar platform. Any Indian citizen can pay digitally using their ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... biometric data like their thumb imprint on a merchants biometric enabled device which could be smart phone having a biometric reader. Any citizen without access to smart phones, internet, debit or credit cards will be able to transact digitally through the BHIM Aadhaar platform. Already, 27 major banks are now on board with 7.15 lakh merchants so that they can start accepting payments usin ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... g BHIM Aadhaar. ONBOARDING Total Onboarding (including syndicate update): 7.15 lakhs ,Transactions: 12.62 lakh Aadhar:1.75 Lakh BHIM/UPI 4.79 lakh QR Code:1.68 lakh BHIM Cash back and Referral Bonus Schemes To ensure that the culture of digital payments permeates down to the grassroots. Under the Referral bonus scheme both the existing user who refers BH ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... IM and the new user who adopts BHIM would get a cash bonus credited directly to their account. Under the Cashback scheme the merchants will get a cash back on every transaction using BHIM. Both schemes are to be administered by MEITY and implemented by NPCI. Outlay of ₹ 495 crore for a period of six months. 75 Townships declared Less Cash Townships In order to achieve th ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e target of 2500 crore digital transactions during the current financial year, the Prime Minister announced about 75 townships spread all over India as less-cash townships . A less-cash township is one where the deployment of payment acceptance infrastructure is complete, all the families in the township are covered under training programs. Selected townships on the basis of third party ass ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... essment by Price Waterhouse Coopers (PWC) Townships with more than 80% of the total number of transactions being done through digital modes of payments during the review period are included in this list. These townships are likely to generate over 1.5 lakh digital transactions every day thereby leading to about 5.5 crore digital transactions in a year. - News - Press release - PIB Tax M ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... anagement India - taxmanagementindia - taxmanagement - taxmanagementindia.com - TMI - TaxTMI - TMITax ..... X X X X Extracts X X X X X X X X Extracts X X X X
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