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Draft Proposals for Facilitating Electronic Transactions

Draft Proposals for Facilitating Electronic Transactions
Start Date :
Jun 16, 2015
Last Date :
Jun 29, 2015
17:00 PM IST (GMT +5.30 Hrs)
Submission Closed

The Finance Minister in his budget speech for the Union Budget 2015-16 made the following announcement: ...

The Finance Minister in his budget speech for the Union Budget 2015-16 made the following announcement:
“One way to curb the flow of black money is to discourage transactions in cash. Now that a majority of Indians has or can have, a RUPAY debit card. I therefore, proposes to introduce soon several measure that will incentivize credit or debit card transactions and disincentivize cash transaction”.
Accordingly, draft proposals for facilitating electronic transactions (E-transactions) have been prepared. Comments and views are invited on the Draft Proposals.
Draft Proposals For Facilitating Electronic Transactions (The Proposals placed below are only at the draft stage and are being placed here to obtain public opinion. The proposals as they stand at this stage, do not imply any commitment from the government)
The last date to share your views is 29 June, 2015 by 5:00 p.m.

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Showing 1250 Submission(s)
HIMANSHU BAJPAI
HIMANSHU BAJPAI 11 years 3 weeks ago
one problem I regularly face as a student and lot of others also face, Many exams and recruiters ask specifically for the CHALLANs there is no other mode of fee payment,Yes for those who do not have net availability can go to bank. but most of the youth today is equipped with internet. Hence to save Bank's Workload, cut short the long queue in the bank and for smooth work life there must b a parallel online facility always. problem is worse in case who are working,as I, to take leave from job
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Mahesh Bhatiya
Mahesh Bhatiya 11 years 3 weeks ago
World is moving from Credit Cards to NFC/Wallet payments, Glad to know our Gov is also taking initiative. My suggestions on this are.. 1. Reduction of service tax, VAT, surcharge & luxury tax on non-cash transactions 2. No charges on pay by card, IMPS, NEFT, RTGS or other bank transfers 3. User controlled dynamic spend limits on Debit cards 4. Alternative methods for 2 factor authentication 5. Install NFC supported machines at POS 6. Promote wallet and other payment mobile apps
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Vineeth NV
Vineeth NV 11 years 3 weeks ago
1. First of all we have to promote India based payment gateway companies to prevent processing charge leaks to foreign countries. 2. Payment gateways should be available for common people. 3. Each bank in country should be developing their own payment gateway for allowing their customers to receive money from customers online. 4. Rupay Platform should be made mandatory for all e-commerce platforms and payment gateway companies operating in India
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Akshay Jain_8
Akshay Jain_8 11 years 3 weeks ago
The draft proposal on electronic transaction is a great measure to curb black money transactions, tax avoidance & reduce corruption. However, the following points must be considered to make India a cashless economy: Reduction of service tax, VAT, surcharge & luxury tax on non-cash transactions No charges on IMPF & other bank transfers User controlled dynamic spend limits on Debit cards Alternative methods for 2 factor authentication Install NFC supported machines at POS
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Ankita Choudhary
Ankita Choudhary 11 years 3 weeks ago
The draft proposal on electronic transaction is a great measure to curb black money transactions, tax avoidance & reduce corruption. However, the following points must be considered to make India a cashless economy: 1. Reduction of service tax, VAT, surcharge & luxury tax on non-cash transactions 2. No charges on IMPF & other bank transfers 3. User controlled dynamic spend limits on Debit cards 4. Alternative methods for 2 factor authentication 5. Install NFC supported machines at POS
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Dilip Kumar_17
Dilip Kumar_17 11 years 3 weeks ago
All currencies should be abolished. All transactions (even small ones) should be made mandatory to be done through smart cards or any other digital.Cost of minting currencies will be saved. The problem of Black money & illegal currencies will automatically vanish. Govt. should start a drive to make smart card for each and every citizen like UID Card. Every vendor should be supplied card swapping machine at subsidized rate by govt.All transaction should be made mandatory through digital process.
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