GOVERNMENT OF INDIA
English language

Home | MyGov

Accessibility
Accessibility Tools
Color Adjustment
Text Size
Navigation Adjustment
Screen Reader iconScreen Reader
Menus
Sticky Menu

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.

Reset
Showing 1250 Submission(s)
Ketan Aggarwal
Ketan Aggarwal 11 years 1 month ago
Very nice idea by government. Kindly consider following suggestions as well:- 1. Make some big transactions like buying a car, electronic products etc., mandatory to be paid using #ElectronicTransactions only. 2. Force banks to reduce transaction charges as well for vendors. 3. No charges and no rebate should be required if paying through debit card.
Dislike (0)
Reply
Report Spam
Harshad Patil
Harshad Patil 11 years 1 month ago
There should be restriction on the amount of cash withdrawal / deposit from a bank by a business entity in a period (lets say monthly). Also Cash in hand should not be allowed to exceed a certain percentage of turnover for a business entity. This will ensure maximum transactions are routed through banking channels. #Economy
Dislike (0)
Reply
Report Spam
AUSTIN GEEVARUGHESE JAMES
AUSTIN GEEVARUGHESE JAMES 11 years 1 month ago
second problem with this move is that it lacks facilities in remote areas, like say if I am going out for a long drive outside the city how much relaxed can I be with this credit or debit card, what if my card Doesn't work on the purchasing store? it can be of many reasons like, bad network, unavailability of this system in small store etc. I hope the government keeps reliable options in such cases.
Dislike (0)
Reply
Report Spam
Sumit Dutta
Sumit Dutta 11 years 1 month ago
Very much required step 1. One should produce PAN number for transactions above Rs.50000 instead of Rs.100000. The unique code generated through transaction slip has to be put in the receipt. It will avoid payment of larger amount using multiple transaction. 2 . All the business who has filed turn over of more than a particular amount (e.g. 5 Lakhs) in last three years on average has to keep swiping machine.They should be mandated to have 50% of transaction through card.
Dislike (0)
Reply
Report Spam
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 the cash is used beyond some limits. Different limits can be set for SB Account and Current Account.
Dislike (0)
Reply
Report Spam
Pinaq Dudhwala
Pinaq Dudhwala 11 years 1 month ago
Excellent proposal. 1.The density of population and deployment of acceptance (POS/ATM) is very skewed. By reducing interchange fee it may have negative impact on growth story. In my view some incentive or benefit to banks/merchants should be considered by the government. 2.Promote mobile POS in a big way. Mobile acceptance guidelines should be charted out. 3. Mandate strict cyber security and fraud management policy for promoting e-transaction
Dislike (0)
Reply
Report Spam
AUSTIN GEEVARUGHESE JAMES
AUSTIN GEEVARUGHESE JAMES 11 years 1 month ago
This is a good move by the government but not as easy as it looks because if its not well established then the whole move would be a waste of resources. The main problem in going ahead with this move is that many of us still live in past century. Its difficult for them to cope up with the advanced technologies. for e.g. many people still lack the knowledge of using a credit or debit card, it goes from entering a PIN to swiping it.
Dislike (0)
Reply
Report Spam
Leela Prasath
Leela Prasath 11 years 1 month ago
1. All the Hospital and Schools transactions should be made only through Card so that it can in track. 2. Any purchase of above 5 Lakhs rupees should be only through Electronic Transaction. 3. All the Money exchange transactions should be only through Electronic Transaction. Either the Debit or Credit of INR should be given only to the Customer's Account. Debit/Credit cards should be free from all the Banks and no maintenance fees should be collected from the Customer.
Dislike (0)
Reply
Report Spam
Sticky Menu