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Draft Proposals for Facilitating Electronic Transactions

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)
Anshul Srivastava_2
Anshul Srivastava_2 10 years 9 months ago
1) Banks should be discouraged from sanctioning loans to merchants who do not make at least 50% of their sales through electronic/ cheque mode.All surrogate programs for loan eligibility should be discouraged. 2) Payment for getting foreign exchange for oversees travel should be mandatorily made by electronic mode. 3) Special surcharge should be levied for cash payment on bills in restaurants, hotels, spas, flight tickets. Alternately discount on service tax/ VAT for electronic payment.
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Karthik M
Karthik M 10 years 9 months ago
We can look at the use of cost effective POS machines in Public Health Sector (more than 2 lakh points of access) where the RuPay Prepaid card can be used. The amount to be loaded in this card can come from the subsidy which Central & State Govt allocate towards Health & Welfare of the citizens. To avoid duplication of benefits the Prepaid cards can be enabled to use Aadhaar for identifying the beneficiaries.
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Piyush Sonthalia
Piyush Sonthalia 10 years 9 months ago
1. Ban 500 & 1000 currency-notes to ensure all transactions are made through Banks (rtgs, next, net-banking, cheques) 2. Introduce mobile-banking in regional-languages & promote technology-literacy 3. Mandate all tax & govt-fee payments through online mode 4. Replace all existing Taxes with 1% Bank Transaction Tax
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Mrinal Chakraborty
Mrinal Chakraborty 10 years 9 months ago
3. Make cash transaction more than 1000 illegal. 4. POS terminal should be subsidised. So that poor shopkeeper can buy. 5. Now a days POS terminal available like mobile phone and it runs with sim card. So it can be used as people use mobile. 6. All government transaction should be with #Rupay card and all bank should issue this card free and without any yearly charge. 7. Keep strict vigil on cash transaction.
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Mrinal Chakraborty
Mrinal Chakraborty 10 years 9 months ago
1.cancel 1000 rupees note. If USA can manage with $100 then we should able to manage with maximum denominations of Rs 500. 2.Make #Rupay card absolutely free. No charge should be taken either from customer of shop keeper. Their should be incentive on purchase through Rupay card. Say, 0.05% to customer and 0.05% to shopkeeper. This will encourage them on card transactions. Printing Rs 1000 note costs Rs39 and by this govt. Will spend only Rs1 per Rs 1000. This we can reduce printing of note.
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Gajendra Rathod
Gajendra Rathod 10 years 9 months ago
Electronic billing machine should be compulsory of all merchant (Wholesaler and retailer). This electronic billing machine should be connected to merchant current bank account. Current bank account should be linked with E-billing system to have extra tax benefit. Customer should be given some tax benefit after linking his/her debit or credit card E-billing system. This system will track all the transaction done a product from a factory to a buyer.
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Ravishankar Venugopal
Ravishankar Venugopal 10 years 9 months ago
Adding to previous comment, its card for the purpose of all. There should b some mechanism to make sure that multiple cards are not issued.
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Ravishankar Venugopal
Ravishankar Venugopal 10 years 9 months ago
Make one card for all, voters I'd/ pan etc with memory chips with all details. Make sure this cards are read on every transactions with banks and other govt offices. So every transactions get recorded to the id of the person. Even net banking should be identified to this card number so no hidden accounts will be possible. I understand it's not possible instantly for India's population, appoint banks for account holders. Have a central database, duplication should not b allowed.
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