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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)
smt padma sahu
smt padma sahu 10 years 10 months ago
BANK ko sabi customer ko free banking transaction softwere provide karna chahiya jisme E-CHEQUE SYSYTEM HO KOI BHI BADA PAYMENT VO E-CHEQUE SE KARE ISSE ONLINE CRIME SE BHI SAVE RHENGE YE SOFTWERE UNKE APNE MOBILE ME COMPUTER ME KISE ME BHI DAL SAKTE HAI
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MOHAN DIVEKAR
MOHAN DIVEKAR 10 years 10 months ago
Black money is in large value transactions beyond the limit of debit or credit cards. Hence suggest that for all large value transactions mention debit or credit or aadhar card and PAN account numbers and backed by cheque / draft. You cannot suggest use of plastic card for vegetable purchase at low end or diamond purchase at high end!!!! Tracking high end transactions above Rs 0.5to1lakh is by cheque & registered e-stamp paper only. Stop printing Rs 500/& Rs 1000/- currency notes.
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Ravi Shanker Gupta
Ravi Shanker Gupta 10 years 10 months ago
This is really a good step from Gov. which will help common public in saving tax. Here, in all the electronic payments for like elec., gas, groceries and etc. should be tax free. This will promote the use of card payment ultimately no black money concept will come in. Hence no corruption. Next thing Gov. should focus on education, hospital, & transportation there infrastructure should be improved with good quality of staffs equivalent to private sectors.
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Milind Marathe
Milind Marathe 10 years 10 months ago
The draft proposal on electronic transaction is a great measure to curb black money transactions, tax avoidance & reduce corruption. However, the following points must be considered to make India a cashless economy:1.Service Tax should be charged only on Cash Transactions.2.Cash withdrawals not to be allow above Rs.10000 in a Month.3.Every shop owner should be compulsory to keep swapping machine of Dr./Credit Cards 4.Incentive should be given for Dr/Cr card users.5.Charges should be waive on DD
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Dheemant Thacker
Dheemant Thacker 10 years 10 months ago
1. For card payments some merchants charge extra 2% - Strict action should be taken on them 2. Merchants insist that card payments will be taken for bills above a certain value - However, even Re 1/- transactions should be accepted by merchants through card payments 3. Govt. should ask banks not to charge annual fees on debit cards and remove online funds transfer charges 4. Govt. should also promote Money Transfer Apps like Chillr which are aimed at reducing cash transactions
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Comments (1)
Alinio Mascarenhas
Alinio Mascarenhas 10 years 10 months ago
With the widespread use of debit cards and ewallets, various professions that take fees should be brought under electronic banking. Doctors, Lawyers etc earn so much but report very little. Cash transactions allow them this leeway.
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Akshay bhatnagar
Akshay bhatnagar 10 years 10 months ago
The draft proposal on electronic transaction is a great measure to curb black money transactions, tax avoidance & reduce corruption. However, the following points must be considered to make India a cashless economy: Reduction of service tax, VAT, surcharge & luxury tax on non-cash transactions No charges on IMPF & other bank transfers User controlled dynamic spend limits on Debit cards Alternative methods for 2 factor authentication Install NFC supported machines at POS
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Sanchit Mittal
Sanchit Mittal 10 years 10 months ago
The draft proposal on electronic transaction is a great measure to curb black money transactions, tax avoidance & reduce corruption. However, the following points must be considered to make India a cashless economy: Reduction of service tax, VAT, surcharge & luxury tax on non-cash transactions No charges on IMPF & other bank transfers User controlled dynamic spend limits on Debit cards Alternative methods for 2 factor authentication Install NFC supported machines at POS
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