To encourage digital payments in a big way, NITI Aayog, the government’s policy think-tank, has announced a daily, weekly and mega cash reward system for consumers and merchants.
The awards will be offered through two schemes – the “Lucky Grahak Yojana” for customers and the ‘Digi Dhan Vyapar Yojana’ for merchants.
NITI Aayog CEO Amitabh Kant said the scheme starts on December 25, Christmas Day, and a total Rs. 340 crore will be given in prizes for both customers and merchants selected through lucky draws.
Both the schemes will cover small transactions between Rs 50 and Rs 3,000 to encourage every section of the society to move to digital payments, Kant explained. He termed it has a ‘Christmas Gift’ to the country.
The first draw will be held on December 25, and the National Payment Corporation of India (NPCI) will announce the 15,000 winners who will get Rs. 1,000 each day for the next 100 days. There will also be 7,000 weekly awards each for consumers and merchants.
A mega draw will be held on April 14, the birth anniversary of Dalit icon B R Ambedkar. Consumers can win awards of Rs. 1 crore, Rs. 50 lakh and Rs. 25 lakh while merchants can win Rs. 50 lakh, Rs. 25 lakh and Rs. 5 lakh.
There will be a random draw of digital transaction IDs to select awardees, Kant explained.
All forms of transactions through UPI, USSD, Aadhar Enabled Payment System (AEPS) and RuPay cards will be eligible for lucky draws.
NITI Aayog said the scheme isn’t applicable for transactions done through private credit cards and e-wallets of private companies.
NPCI is a not-for-profit company which is charged with the responsibility of helping India become a cashless society.
According to Kant, PoS transactions witnessed a jump of 95 per cent since November 8 (till December 7). RuPay Card transactions were up 316 per cent and e-wallet 271 per cent, while both UPI about and USSD witnessed increase of about 1,200 per cent each.