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Indian banks may get incentives for digital push

Indian banks may get incentives for digital push

Tuesday, March 7, 2017, 11:25 AM

Government may give incentives to banks up to Rs 10 per transaction to encourage merchants to adopt digital modes of payment. This helps to achieve the objective of a cashless economy, that makes tax evasion easier to detect. Proposal is to provide incentive of 0.25% on the value of a transaction, capped at Rs 10 made on biometric-based payment system Aadhaar Pay and BHIM.
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