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Draft Proposals for Facilitating Electronic Transactions

Start Date :

Jun 16, 2015

Last Date :

Jun 29, 2015

17:00 PM IST (GMT +5.30 Hrs)

Submission Closed

The Finance Minister in his budget speech for the Union Budget 2015-16 made the following announcement: ...

The Finance Minister in his budget speech for the Union Budget 2015-16 made the following announcement:
“One way to curb the flow of black money is to discourage transactions in cash. Now that a majority of Indians has or can have, a RUPAY debit card. I therefore, proposes to introduce soon several measure that will incentivize credit or debit card transactions and disincentivize cash transaction”.
Accordingly, draft proposals for facilitating electronic transactions (E-transactions) have been prepared. Comments and views are invited on the Draft Proposals.
Draft Proposals For Facilitating Electronic Transactions (The Proposals placed below are only at the draft stage and are being placed here to obtain public opinion. The proposals as they stand at this stage, do not imply any commitment from the government)
The last date to share your views is 29 June, 2015 by 5:00 p.m.

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Showing 1250 Submission(s)

Manyata Goyal 10 years 9 months ago

I love the idea of not having to carry cash everywhere or hunt for change. If this translates into even smaller amount transactions being made easy via electronic means.. it would be fantastic. #ElectronicTransactions

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Ramakrishna Gaddipati 10 years 9 months ago

Incentivising electronic payments is a great move that curbs numerous ills associated with paper currency. I hope this translates into a mandate very soon.

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geeda sidhakara reddy 10 years 9 months ago

For any transactions OTP is required or Biometric Password is required other wise misuse of card will happen by fraudsters.

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Lokesh Konathala 10 years 9 months ago

this is a fantastic idea, but every one need knowledge to do with rupay. there is a need to have protection for the cards also.

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Ravi Khanchandani 10 years 9 months ago

Banks need to provide details in statements and passbooks for electronic transactions. Description fields today do not include details like name of party, Ac number etc. These missing details cause enough reconciliation issues. If a standard format is introduced then electronic transactions would increase. Example payment of society maintenance charges, company to company payments all would be electronic.

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sunita kasar 10 years 9 months ago

For money transaction of smaller amount, the process needs to be simpler so as to facilitate a bigger section who will use this facility for money transaction. for larger sum the process has to go through stricter steps to avoid any error and illegality.

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Sangeetha Subbiah 10 years 9 months ago

#ElectronicTransactions More Clarity is needed in grievance process.The online money transfer doesn't check the account holder name.By mistake the account number is mistyped and the amount is transferred to unintended person,they will blame the person who mistyped the account number.There is no way to get the money back.So names of account holder should be checked along with the account number in online transfer if there is no way to get the money back if we mistype the account number...

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Anil Shivaji Bote 10 years 9 months ago

sir requesting you make any policy for pvt sector employee for benefits in favor of them sureity of job and development of his with family becuase there is not seen security for pvt sector employee

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Sanjay Chinnannavar 10 years 9 months ago

Sir I think we can control inflation and keep control on black mkt by fixing MRP on all basic req of life like milk, veg, onion, Tomato, oil etc. This will help farmers to get max for their hard work and common men will come to know what is the max price they need to pay for the essential commodity. Gov can increase or decrease MRP based on stock available in market and should advertise the same daily in newspaper and media. Due to space limit not able to share more but have detail action plan.

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Sanjay Chinnannavar 10 years 9 months ago

Sir we can re issue Aadhar card with Nano chip inbuilt in which all bank details, pan card, property details etc is linked to this. If any details is not updated and found during audit then that becomes property of gov. In this way people will bring their black money out. This card should be used compulsory for doing transaction like purchasing grocery, restaurant, shopping and even at pan shop. This will gen revenue and there will be no cash transaction. Pl increase space limit to exp freely.

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