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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)
Biswajit Das Sarkar
Biswajit Das Sarkar 11 years 4 weeks ago
I am common man and I will share my views- everytime I pay online or via credit/debit card, I end up paying convenience charge plus service charge. I was trying to pay my lic via debit card, but i was about to be charged convenience charge plus 14% service tax by the gateway company apart from paying service tax to lic which means I will have to pay few thousands extra. How do you solve this problem, otherwise it is difficult to encourage common people in using cards more frequently.
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Ashwin Kumar Loya
Ashwin Kumar Loya 11 years 4 weeks ago
- Currency notes above 100 should be recalled in order to stop Money laundering or Hawalas. - All the transactions whether it might be a transaction of Rs 10-50 or any amount should be online through debit card or credit card, rather Small denomination of 25ps, 50ps should be brought back in action. - Wholesalers & Retailers should be encouraged to use Debit card or Credit card in any kind of transaction. #RUPAY, #Economy, #ElectronicTransactions
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Comments (1)
manojkumar palanisamy
manojkumar palanisamy 11 years 4 weeks ago
cont... 4.each retailer or distributor must have POS machines while getting license from government. 5.Remove formalities, procedures and taxes who business worth less than 10 lakhs hence, these will start using the plastic money. 6.KYC - this is lengtly process for the bank to open the bank account. these retailers scares more to open a account. we should define appropriate rules and regulation in order to bring them under bank. 7.charge extra for cash transactions then plastic money
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manojkumar palanisamy
manojkumar palanisamy 11 years 4 weeks ago
1. please encourage retailer/distributor to use plastic money by decreasing the taxes or remove service taxes for using the credit or debit card. any product includes the taxes already. 2. please encourage customers ( people) to use plastic money for each purpose, give tax benefit to tax payers. 3. Announce prices every month of 10 lakhs for 32 person who using the credit card or debit cards from each state and union territory. cont....
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manojkumar palanisamy
manojkumar palanisamy 11 years 4 weeks ago
we everyone taking about illegal money lies outside India...but i could say black money inside country is thrice than outside. we should monitor, make accountable and understand why hoarders hiding money. only reason is that they dont get what they pay for...we are paying road tax but no quality roads...we are paying corporation tax....but no proper drainage system...hence, people thinks why should we pay...no one pays it...now lets come to the topic discussion.
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TRILOK SINGH LOOMBA
TRILOK SINGH LOOMBA 11 years 4 weeks ago
Credit and Debit cards did facilitate times of acute needs, lately they have upset the entire Economy. When credit cards flashed, lot many foreign brands came in and the credit card holders had the thrill of buying. Within a decade the credit cards reached their limits, buying stopped, foreign brand outlets became deserted, many closed. Despite 50% and 75% discounts,buyers have no money.Unless Banks convert outstandings on credit cards into soft loans payable in EMIs, circulation won't improve
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Abhirup Bhadra
Abhirup Bhadra 11 years 4 weeks ago
#Economy...The CAG, PAG and alltype of audit bodies in Govt. departments shold be made strong enough to put an end to the Govt. scams....
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Abhirup Bhadra
Abhirup Bhadra 11 years 4 weeks ago
#Economy...Govt. should enhance the co-operative sector by giving them additional incentives, easy loans, necessary subsidies if possible. Because co-operative mode of economy can prove as a best solution to shorten the economic imbalance in the society....
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Debashis SINHA
Debashis SINHA 11 years 4 weeks ago
i) Govt has to identify tier II, III & IV cities apart from metros to initiate the project. Based on success and resource availability, the same can be rolled on villages as well at a later stage to promote cashless transaction. ii) Let all govt payments, (tax & non taxes) be done online. This will discourage undertable payouts and corruption. iii) To encourage cashless transaction, govt may consider tax rebates by linking all transactions to PAN/AADHAAR.
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