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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)
Neeraj Ramesh Vishwakarma
Neeraj Ramesh Vishwakarma 11 years 1 month ago
Good Idea..But Just Going with #rupay will not give benefit to all...peeople and success of this implementation would be less.. So on ground level provide country with infra and maximize the use of rupay first ....
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s pattnaik
s pattnaik 11 years 1 month ago
This is a great initiative. However,as on today there are merchants(govt/private) who charges more (sometimes up to 3%) by paying through credit cards online. This is unfortunate.One example is paying for passport fee through online. Even some state government utilities charges extra fee for paying through credit card. For purchasing petrol credit bank put surcharges if one does not buy petrol from particular petrol pump whom they have tie up.Government must stop these immediately.
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Ragavan
Ragavan 11 years 1 month ago
The Government should link the PoS acceptance infrastructure to the RBI,IBA, NPCI, UIDAI approved MicroATM standards especially for rural areas leveraging the to Aadhaar biometric system. This will also facilitate cardless, cashless society and at the same time link the government benefits payments to the customer.
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Rama Prasad S
Rama Prasad S 11 years 1 month ago
Good Initiative & all the money transaction do be one A/C per Person instead of different multiple accounts for single person.
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Ragavan
Ragavan 11 years 1 month ago
The thought of promoting electronic transaction is a welcome move. However, a very important payment system governing most of the government payments using Aadhaar biometric authentication "AEPS" is almost ABSENT. To really further the financial inclusion in the country the the microATM way of doing biometric based transactions for RURAL INDIA is very important. PIN based transaction can be misused in rural areas. Banks to leverage their existing biometric microATM terminal infrastructure
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Madhurima K V S
Madhurima K V S 11 years 1 month ago
This particular draft proposal for Electronic transaction is the best way to curb the black money expenditure to some extent. So that all commercial transactions could be checked with the respective bank database. This decision would also realize the dream of Digital India, also by encouraging e-commerce start-ups. This is effective way to checking on illicit transactions. This kind proposals should further be put forward by incentivizing the right-doers.
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Bharat J
Bharat J 11 years 1 month ago
That is best idea to stop vendors from skipping taxation and good start towards avoiding fake currency . along with such provision also make some strict rules for vendors who charge 2 to 4% percent extra on transaction amount if we pay by card instead of cash
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Ajit Kumar Arveti
Ajit Kumar Arveti 11 years 1 month ago
This is indeed a good move by the government to facilitate electronic transactions. This would no doubt bring in transparency on transactions and zeroing out the surcharge on card or electronic payments will encourage people to use plastic or electronic money more often But, on the other side, 3/4th of the country's population isn't aware of virtual money, Govt should propose schemes for such people to bring in awareness on electronic transactions. Then success of this proposal an be felt.
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