The Union Cupboard on March 19 has accepted an incentive scheme of Rs 1,500 crore with the target of selling Bhima-UPI transactions of small worth for FY 2024-25. This transfer of the federal government will encourage transactions as much as Rs 2,000. That is anticipated to extend the usage of digital funds amongst small merchants particularly. Underneath this scheme, small merchants will get 0.15 % incentive per transaction. This scheme will give incentive (incentive) to small shopkeepers (P2M) on taking fee from UPI. This scheme is for the monetary 12 months 2024-25. The scheme will run from April 1, 2024 to March 31, 2025. The scheme accepted by the Cupboard as we speak might be relevant to UPI (P2M) transactions as much as Rs 2,000. Typically small shopkeepers make such transactions. Small shopkeepers will get 0.15 % incentives on each transaction below this scheme. Underneath this, if a buyer buys items price Rs 1000 and pays it from UPI, then the shopkeeper will get an incentive of Rs 1.5, together with this, banks can even get incentives. The federal government will give 80 % of the claims of banks instantly. Officers mentioned that the remaining 20 % quantity might be given solely when the banks meet the show requirements. These requirements embody sustaining the technical decline charge beneath 0.75 per cent and the system uptime greater than 99.5%. Foreign money examine: Rupee has been elevated by 12 paise, Rs 86.20 to 86.80 rupees may be between Rs 86.80 to Rs 86.80. The purpose of this initiative of the federal government is small businessmen who’re nonetheless hesitating to totally undertake digital funds. The scheme has been designed to advertise digital transactions, particularly in rural and distant areas. The official launch states that the aim of this scheme is to advertise Tier 3 to six cities, particularly the UPI, particularly the UPI, particularly in rural and distant areas by selling particular merchandise like “UPI 123Pay) and offline (UPI Gentle/UPI LightX) fee resolution.
