The Union Government has launched Lucky Grahak Yojana to encourage consumers and Digi Dhan Vyapar Yojana to encourage merchants for transition to digital payments.
These award based schemes were launched by the NITI (National Institution for Transforming India) Aayog, government’s policy think-tank.
- These schemes aim to give cash awards to consumers and merchants who utilize digital payment instruments for personal consumption expenditures.
- They will specially focuses on bringing the poor, lower middle class and small businesses into the digital payment fold.
- National Payment Corporation of India (NPCI) will be the implementing agency for these schemes.
- Transactions using USSD, UPI, RuPay and AEPS will only be covered under these schemes. Digital payments made through credit cards and e-wallets won’t be covered.
- To ensure focus on small transactions incentives will be restricted to transactions within the range of Rs 50 and Rs 3000.
- The winners shall be identified through a random draw of eligible Transaction IDs by software to be especially developed by NPCI for this purpose.
Lucky Grahak Yojana
- Under it, consumers making payment through digital mode will get chance to win minimum Rs 1000 each every day or Rs 1 lakh per week.
- 15,000 winners will get cashback prizes of Rs 1000 each every day starting on 25 December 2016 (Christmas) and ending on 14 April 2017 (Babasaheb Ambedkar Jayanthi).
- In addition, there will be weekly awards worth Rs 1 lakh, Rs 10,000 and Rs 5,000 for 7000 people. On last day of scheme mega prize winner award will be announced. He will get Rs. 1 crore award.
Digi Dhan Vyapar Yojana
- This scheme is for the merchants across the country. Mandatory for merchants to have POS (Point of Sale) machines for undertaking cashless transactions.
- Under it, merchants doing business using POS are eligible to win Rs.50000 per week from 25 December 2016 to 14 April 2017.
- 3 Mega Prizes for merchants will be of Rs 50 lakhs, 25 lakh, 12 lakh for digital transactions between 8 November 2016 to 13 April 2017. It will be announced on 14 April 2017.