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Rail to Petrol: Complete list of ‘discounts’ you can avail if you go cashless

Rail to Petrol: Complete list of ‘discounts’ you can avail if you go cashless
Rail to Petrol: Complete list of 'discounts' you can avail if you go cashless

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Finance Minister Arun Jaitley on Thursday announced a host of discounts and concessions to encourage people throughout the country to opt for digital payments.

Since coming to power in 2014, the government has been taking steps to encourage people to go digital and transform India into a ‘less cash’ economy.

The demonetization of Rs 500 and Rs 1000 notes last month, which left a majority of the population cash strapped, has provided the centre with another opportunity to push for digital payments across major sectors.

Jaitley, while speaking to the media on the completion of one month of demonetisation, said, “Today its one month since PM announced demonetisation decision and in last 30 days we have seen major changes in economy,”

Emphasising the importance of alternate modes of transaction, Jaitley said, “The government is aiming to push and implement the use of credit cards, debit cards, mobile wallets, and online banking.”

The aim of demonetisation has been to move towards digital transactions, he said adding that within a month of demonetisation, digital payments have doubled to 40 percent.

Here’s the complete list concessions and discounts announced by Arun Jaitley:

# Those making digital payments for buying Petrol and Diesel to avail 0.75% discount.

# People buying monthly seasonal tickets in the Suburban railway networks through digital payment mode, to get 0.5% discount. This will be effective from Jan 1st 2017, starting from the Mumbai suburban railways.

# Insurance cover worth Rs 10 lakhs for those who book Railway tickets through digital mode.

# 5% discount on digital payment mode for railway facilities like catering, accommodation, retiring room etc.

# 10% discount on RFID and FASTag procured through digital payments at toll plazas across all national highways.

Buying general or life insurance policies from the websites of public sector insurance companies will entail a 10 percent discount. Online payment of premiums for these policies will be eligible for 8 percent discount.

# No service tax on digital transaction charges/MDR of up to Rs 2,000.

Government bodies and central public sector undertakings will not charge a transaction fees for digital payments.

Fee for PoS devices given by banks will be capped at Rs 100.

Related: PM highlights how discounts on digital payments will help in the long run

Other announcements:

# NABARD to issue Rupay card to people who have Kisan Credit Card.

# Two POS machines to be given to villages with 10K population, 1 lakh villages to be selected.

Around 750 million crore people will get access to these machines.

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