With a mission to promote digital transactions, Government has announced the new policy on Thursday. The National Institute for Transforming India (NITI) Aayog is a government policy think-tank which was introduced by PM Modi. It is a lottery with daily weekly and mega awards for consumers and merchants.
In a bid to encourage a transition to digital payments, the government introduced this policy. According to the reports, the awards will offer in two schemes. One is the Lucky Grahak Yojana for consumers and the second scheme is Digi Dhan Vyapar Yojana for merchants.
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Both the schemes will come at an estimated cost of Rs 340 crore and Cover small transactions between Rs 50 and Rs 3000. In the wake of scrapping the old 500 and 1000 currency notes NITI Aayog has asked National Payments Corporation of India (NPCI).
It expected that only five percent of the population make digital transactions and rest use only cash. The CEO of NITI Aayog, Amitabh Kant said, “Our objective is to make digital payments a mass movement. Beginning December 25, the NPCI will announce 15,000 winners of 1000 rupees for the next 100 days. It will be a Christmas gift to the nation.”
The first draw commenced on 25th December, and the NPCI will announce the 15000 winners who will get Rs 1000 each day for next 100 days. And also there will be 7000 weekly awards for each merchant and consumer.
On the occasion of Dalit icon Dr B R Ambedkar birth anniversary, the mega draw will be held. In this mega draw, consumers can win one crore, 50 lakh and 25 lakh. And the merchants can win 50 lakh, 25 lakh and 5 lakh amount.
Those who pay using government issued RuPay, USSD, UPI and Aadhar-Enabled Payment systems are eligible for National Lucky Draw Scheme.
Prime Minister, Narendra Modi had made a sudden announcement of banning 500 and 1000 rupee notes on 8th November to stop the black money. The government introduced cashless economy which is next big step to battle against corruption.