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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)
Shreyesh Khanzode
Shreyesh Khanzode 11 years 1 month ago
Very good move!! Please make it applicable as soon as possible. And also please try not to levy extra charges on the online debit/credit card payments or any electronic payments that we do.
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Rajvardhan Rajesh Jadhav
Rajvardhan Rajesh Jadhav 11 years 1 month ago
We can have contactless payment card (eg-in Singapore), which can be used for payment of public transport, payment at retail outlets, and can also be linked to the AADHAAR Card.
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bharatkumar kollipara
bharatkumar kollipara 11 years 1 month ago
Whatever the steps government is taking, is not enough to control the black money in the economy. Government should ban the higher denomination notes Rs.500 and Rs.1000 If that is happen they can control the black money effectively. Government can take 3 to 4 years time to ban on Rs.500 & Rs.1000 notes.
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manish anand
manish anand 11 years 1 month ago
This Revolutionary step by Govt. for frequently using Plastic money waive off Annual Charges & minimum transaction slab. This decision is more Revolutionary when local merchant also use Debit/credit card
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Jyoti Ravi Sachdeva
Jyoti Ravi Sachdeva 11 years 1 month ago
Annual card membership fees + service tax charged by banks, convenience fees on transactions should be done away with. The banks are reluctant to issue the cards to members of certain legal professions which should be looked into. Mechanism to resolve the dispute and identify fraudulent transactions should be expeditious and strengthened. Most of the senior citizens today don't use the cards and banks are reluctant to issue the cards to them in the absence of non-recurring income.
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vinoth vikas
vinoth vikas 11 years 1 month ago
A great move by the govt after disappointing black money bill. I have 2 suggestions to make 1. Make it mandatory for all institutions registered as TRUST which has tax exemption,to receive and spend every penny through card. According to A.P.Shah committee higher education and real estate ranks top in black money and all higher education institutions owns a trust to receive donations(black money). 2. There has to be a harsh penal provision to make people comply.#ElectronicTransaction #RUPAY
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Rajen_Raval
Rajen_Raval 11 years 1 month ago
1.There must be ‘regulatory authorities’ to monitor and control for operation of the proposal.2.There must be no hidden charges and complete transparency to avoid misuse by the unscrupulous parties.3.Govt guarantee to fully compensate consumer for any loss, due to any fraud, within seven working days.4.There must be complete immunity from any inquiry, for such transactions, by the tax authorities.6. No service tax should be charged. 6. TDS @0.5% of aggregate electronic transaction per year.
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Prasanna_18
Prasanna_18 11 years 1 month ago
Almost all the jewellery shops charge service charge for purchase of Gold coins and Ornaments to encourage people paying in cash. The service charge on Credit card transaction in jewelleries shall also be reviewed.
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