The government of India has improved the demonetization relief to the rural areas. National rural bank NABARD to sanction Rs 21,000 crores to cooperative banks. The new denomination notes to make available in 1.5 lakh post offices. E-wallet’s capacity has been doubled now leading to service charge Free Online Transaction until December 31.
Service charges aren’t going to impose for usage of any debit cards and online railway ticketing until December 31. The benefit not only serves just people with smartphones but also the users with simple feature phones. Considering the fact that over 65% of mobile phones in India are simple featured phones.
The falling effect of reducing service charge leads to free online transactions. Indian Railways announced the exception of service charge for online bookings until December 31.
How to do Free Online Transaction
“TRAI has also reduced USSD charges to 50 ps from RS 1.50. “These will benefit digital transactions through feature phones … The USSD charge reduction will be matched by telecom companies which are on board to waive even the remaining 50 ps. So for all digital finance transaction on feature phones there will be no service charge until December 31,” says, economic affairs secretary Shaktikanta Das today.
This move benefits farmer to make more digital transactions. It also ensures farmers to get credit and certain in the way of cash. RBI and NABARD have been advised to make the required amount of cash available at the district central cooperative banks.
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Finance Minister Arun Jaitley with RBI and the NABARD and urged them to carry out the whole sequence of activities smoothly. Shaktikanta Das has confirmed about the re-calibration of ATM’s as 82000 ATM’s were done so far and rest will do in a matter of few days.
Das also declared about the pilot program of new Unified Payment Interface mobile phone application (app) is underway in 20 banks. The app enables making and getting payments instantly up to Rs 50000. All government organizations are advised to use only digital payment methods soon.