Jaitley unveils discounts for digital payments

Pushing forwards the government’s dream to achieve a cashless society in the country, Finance Minister Arun Jaitley on Thursday said that petrol and diesel would be cheaper for those who pay be cards. “Petrol and diesel will be cheaper for those who pay by digital mode, they will get 0.75% discount,” Jaitley said. He announced several other discounts on digital payments for various other services.

People buying monthly seasonal tickets in suburban railway networks through digital payment mode would get 0.5% discount. Jaitley added that those who make online payment for railway tickets will be given free accident claim insurance worth Rs 10 lakh. “Dealing in cash has economic costs, so the government is promoting payment by credit, debit cards and e-wallets,” Jaitley explained.

Those availing insurance policies from public sector insurance companies’ customer portal, with online payments can avail discount. Policy premium will be 10 % less for general insurance, and 8% less for life insurance, in case of digital payment. “RBI has been releasing currency as per schedule. The aim of demonetisation has been to move towards digital transactions,” Jaitley added.

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He also announced that villages with a population of up to 10,000 will get 2 Point of Sale machines free of cost and that one lakh villages will be selected for this scheme of availing free Point of Sales machine.


Courtesy : http://www.deccanchronicle.com

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