Weekly Current Affairs

Notice

NPCI schemes will reward digital payments

  • Under Lucky Grahak Yojana, starting 25 December, every day for the next 100 days, 15,000 consumers will be awarded Rs1,000 each via a lucky draw.
  • The schemes will cover small transactions between Rs50 and Rs3,000 to encourage every section of the society to move to digital payments
  • Only transactions processed through Rupay cards, Unstructured Supplementary Service Data (USSD), Unified Payment Interface (UPI) and Aadhaar Enabled Payment System (AEPS) will be part of the schemes—Lucky Grahak Yojana for consumers and Digi Dhan Vyapar Yojana for merchants.
  • All transactions between consumers and merchants; consumers and government agencies and all AEPS transactions will be considered eligible for the incentive scheme.
  • Transactions conducted through credit cards, e-wallets, peer to peer and bank to bank transfers will be out of the ambit of these schemes.
  • NPCI has been directed to ensure a technical and security audit of the same to ensure that the technical integrity of the process is maintained.
  • NPCI is the umbrella organization for all retail payments systems in India and is charged with responsibility of guiding India towards being a cashless society.