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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)
Sandeep Chavda
Sandeep Chavda 11 years 1 month ago
To few members in this group i wud like to share my input on using cards for all transaction... i dont agree ...plastic money is common in cities and metro cities what abt rural areas ...i would request to consider cash transactions as we have a weaker section staying there and are thew backbone of our developing nation....hence cash transaction shd also be accepted and those willing to use cards can use cards....
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Sandeep Chavda
Sandeep Chavda 11 years 1 month ago
I agree with our FM to use plastic money for big transaction and giving some advg in IT return....but what about the heavy taxes and cess and other charges that we will shell out...at each transaction we are paying these taxes as we are indirectly paying heavily to the Govt ....on top we pay our IT returns....pls request Sir to look into these taxes iam sure many young generation will accept it as everything is a click away...
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Ankur Baser
Ankur Baser 11 years 1 month ago
For security of swapping of debit / credit card, password should be finger print of card holders, We can link every such card to Aadhar Number
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Sunil K Mathew
Sunil K Mathew 11 years 1 month ago
Good initiative. Payee cheques and DD's also should be included into consideration. One more thing to do is to stop solid cash transactions above a limited amount say Rs.10,000/-. For all such transactions plastic money or cheques, DDs are to be entertained. This will block a huge amount of black money. Also this will reduce the loss on robberies because nobody will keep too much solid cash in their custody.
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Sunil K Mathew
Sunil K Mathew 11 years 1 month ago
Good initiative. Payee cheques and DD's also should be included into consideration. One more thing to do is to stop solid cash transactions above a limited amount say Rs.10,000/-. For all such transactions plastic money or cheques, DDs are to be entertained. This will block a huge amount of black money. Also this will reduce the loss on robberies because nobody will keep too much solid cash in their custody.
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ANAND SHEELWANT
ANAND SHEELWANT 11 years 1 month ago
Firstly government should make compulsory all commercial organizations(whether a small vegetable shop or a computer class) to have POS(card swipping) machines. This can be done thru local branches of banks providing zero charges for installation of machines and creating account for the shop. Once this is done Government can start making compulsory transactions for a specified amount like say above Rs. 1000 or so.
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Premanadhan K
Premanadhan K 11 years 1 month ago
It is a very good initiative taken by Gov. Of India.As a start it is suggested to compulsory all sales of PETROL on Fuel Pump by debit & credit cards as PETROL also should waive the surcharge on Petrol. Also remove the surchage on railway ticket purchase online. Also sale of items like TV/AC/ WASHING machines/Bikes/ cars must be only through debit/credit cards or by Bank Payments only.
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Brijendra
Brijendra 11 years 1 month ago
Nice initiative sir. Following points should be considered to make this decision working: 1) Card payments should be more secured 2) In case of transaction failures amount should be refunded within minutes 3) Give offers on card transactions to both (seller & Buyer), instead levied charges on cash transaction; because people are ready to pay by cards but sellers/shopkeepers denies to take by cards 4) Stop cash transactions at banks (Withdrawal/Deposit) Need to think at ground level
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Ashish_76
Ashish_76 11 years 1 month ago
There should be a way to provide incentive to the tax payers, especially the service class. One way can be by linking the spending made by an individual to the amount of tax he has paid, maybe by providing him some credit notes against the taxes paid by him.
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L Vijay Suresh
L Vijay Suresh 11 years 1 month ago
Excellent! We can remove 1000 & 500 Rupees currency notes.So that even high value transactions will be made through Debit/Credit cards. It will reduce Black Money.
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