Digital Payments Current Affairs

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Government covers 14 SC, ST, OBC and DNT scholarship schemes under Digital Payments

The Government has stated that 14 scholarship schemes for Scheduled Castes and Other Backward Classes (OBCs) / Denotified, Nomadic and Semi-nomadic Tribes (DNTs) students come under Digital Payments Initiatives. This is expected to benefit 3.54 crore students across the country. As per the modalities of this initiative, all scholarship amount will be deposited in the bank accounts of the students.

Schemes for SCs

There will be a 60% Aadhaar seeding in SC student bank account. Educational Empowerment is carried out by virtue of scholarships, hostels for students, coaching facilities, capital for creation/upgradation of premises, institution etc. Ministry of Social Justice and Empowerment spends 54 % of its Budget on scholarships for Scheduled castes. In addition, the government has tasked each branch of public sector banks to handhold at least one SC/ST youth, as an entrepreneur, to generate more employment among the members of the community.

Scholarships

Ministry of Social Justice and Empowerment is the nodal ministry for the implementation of seven different types of scholarships:

  • Post and Pre-Matric Scholarships;
  • Top Class Scholarship;
  • National Overseas Scholarships;
  • National Fellowship for Scheduled Castes administered by the UGC;
  • Pre-Matric Scholarship for Children of those engaged in unclean occupations;
  • Free Coaching for Scheduled Castes and OBCs (70: 30 ratio); and
  • Upgradation of merit.

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President Pranab Mukherjee picks winner of Lucky Grahak and Digi Dhan Vyapar Yojanas

President Pranab Mukherjee has picked up lucky winners from the 100th draw of lots under the digital payments promotion schemes Lucky Grahak Yojana and Digi Dhan Vyapar Yojana.

Total the six winners were selected — three consumers and three merchants of Lucky Grahak Yojana and Digi Dhan Vyapar Yojana.

The winners will be felicitated by Prime Minister Narendra Modi on April 14 in Nagpur (Maharashtra) on the occasion of Ambedkar Jayanti. 

Key Facts
  • The winners were identified through a random draw of eligible Transaction IDs by software developed by National Payment Corporation of India (NPCI).
  • Consumer section: The first mega prize of Rs. 1 crore went to a customer of Central Bank of India.
  • The second prize of Rs. 50 lakh went to Bank of Baroda customer and third prize of Rs. 25 lakh went to customer of Punjab National Bank. Selected customers had done transactions using their RuPay debit cards.
  • Merchants Sections: Top three merchants won prizes of Rs.50 lakh, Rs. 25 lakh and Rs. 12 lakh, respectively. 

About Schemes

  • Lucky Grahak Yojana and Digi Dhan Vyapar Yojana are award based schemes launched by NITI Aayog to encourage consumers and merchants for transition to digital payments in post demonitisation.
  • These schemes aim to give cash awards to consumers and merchants who utilize digital payment instruments for personal consumption expenditures.
  • National Payment Corporation of India (NPCI) was the implementing agency for these schemes.
  • Transactions using USSD, UPI, RuPay and AEPS will only be covered under these schemes. It did not covered digital payments made through credit cards and e-wallets.
  • These schemes primarily focused on bringing the poor, lower middle class and small businesses into the digital payment fold and restricted its focus on transactions within the range of Rs 50 and Rs 3000.
  • Digi Dhan Vyapar Yojana was for merchants across the country having POS (Point of Sale) machines for undertaking cashless transactions.

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