Government plans phase-2 of digital payment push from January
The government is working on launching the second phase of promoting digital payments from January, according to an official source.
“A committee under DAVP (Directorate of Advertising and Visual Publicity) is working on plans to start promotion of digital payments from January onward,” an official source told PTI. “Information and Broadcasting ministry along with Meity (IT ministry) are involved in firming up this plan,” he said. The logo and jingle are being designed and the next meeting of the DAVP panel is expected to be held within a week to submit the plans, he said. “There is a proposal that every ministry should come up with its plan to promote digital payments,” he added.
Since the demonetization of high value currency in November last year, the government has been pushing for digital payments to move towards a less-cash economy as well as enhance tax base. There was sudden spike in number of digital transaction with participation from private sector firms.As per RBI data, 933 crore electronic transactions have taken place in the country, amounting to Rs 12.13 lakh crore, between November 2016 and September 2017.
The electronic transaction volume peaked in December 2016 to 95.75 crore. In value terms it peaked to Rs …read more