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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)
RAJESH NARAYANAN
RAJESH NARAYANAN 11 years 1 month ago
Some bank branches are not issuing RuPay card. What action is being taken and where does one approach for such situations??? Who is answerable in Govt & in Bank
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Uttam Kumar
Uttam Kumar 11 years 1 month ago
This is a good measure but first we need to tackle the practical difficulties in this. The availability of reliable internet connection and phone lines and easy access to Swipe machines. People who pay taxes should not be taxed again. More and more people should be bought under tax net rather then re-taxing people. Small vendors like fruit sellers, Rehdi-patri walas should be covered as their income is more than tax limit but they dont even know what PAN card means?? Minimize producing currency.
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SIVA SUNDARA PANDIAN K
SIVA SUNDARA PANDIAN K 11 years 1 month ago
Cash withdrawal/deposit beyond certain limits in terms of amount(not number of transactions) in a month, may attract a cess towards printing of currency notes, so that government will also get some revenue if cash is used beyond some limit. Different limits can be set for SB Account and Current Account.
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Comments (1)
Anant tandon
Anant tandon 11 years 1 month ago
I would like to bring some points which need to be taken care of while promoting electronic transactions: 1) The charges for Credit card per year should be reduced to minimum for any bank 2) A directive should be issued for all businesses to accept all type of cards- Maestro, VISA, etc 3) Direct the banks to charge less in case you draw money from ATM via credit card 4) Incentives for business men for accepting cards. These steps can increase electronic transactions.
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Anupam Pawale
Anupam Pawale 11 years 1 month ago
It's a very good idea to make all types of payments - small or big - through debit/credit cards. Important point here is to make the merchants convince to use the debit card terminals, because even if customers are paying by cards, some merchants ask 2% more if transaction done through cards. This should be a punishable offence. #ElectronicTranscations
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Sumit Dutta
Sumit Dutta 11 years 1 month ago
To set right example to business all the government institutions should start accepting card irrespective of small or big city, irrespective of small or big amount. It should be mandated by government official to take payment only by card unless there is technical fault.
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gdbatra
gdbatra 11 years 1 month ago
This will help in reducing black money and illegal transactions.It is really good step and need to be implemented a Transaction fees should be minimum say Rs.1/- only for transaction upto Rs.1000/- and Rs.2 t0 5/ for transactions from Rs.1000/- to 1,00,000/-refund for failed transactions should be within 7 days.There should be a guarantee that money will not be lost and dispute may be resolved within 15 days.For purchase of property transaction (100%) irrespective of value
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