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

I am from rural area in Odisha. In my recent experience, I have found all families are having bank accounts. So, it would not be any problem if govt. makes it mandatory that no amount can be paid/received for Rs.5000 or more. And notes of maximum 50 rupees should be in circulation; notes of Rs.100 and above should be immediately withdrawn. The poor seldom transact Rs.5000 or more on one item. And those who transaction over Rs.5000 will not face any problem by using debit card.

My point is
1. stop all cash transactions related to Property, land or purchase of any commodities over Rs. 50000.instead it should be mandated either by card, online bnking,Draft or a Cheque.
2. as recently govt . started encouraging use of Debit and credit card by giving a waiver of 2% of VAT , even internet banking used for online transactions should be included sith such incentives so as to improve its effectiveness and transparency in monetory transactions.

Mere desh vasiyo agar aap chahte hain ki hamara bharat desh phir se sone ki chiriya bane to hame Anti Crime Bureau se kaam karne ki seekh lene ki jarurat hai is ke liye Anti Crime Bureau ki website www.anticrimebureau.org ko jarur visit karen aur apne aap ko desh ke liye samarpit hone ki himmat jutayen apne liye to har koi jeena chahta hai dusron ke liye jeena seekho tabhi ham desh ke liye kuchh kar sakte hain aur desh ko aage bara sakte hain aur duniya ke deson se sabse aage khare ho sakte hain

I Support, one of the best way to reduce correption

For new Start-up Companies and Service providers in the Electronic / Digital Payments Industry:

• Terms & conditions like favourable interest rates, margins, tenures etc.
• Funding facilities for National Mission on Digital Infrastructure projects at attractive terms
• Tax Holidays for a period of 7 years and benefits of Special Economic Zone (SEZ), to provide inertia and growth to Electronic / Digital Payments Industry

 Subsidy and Concessions for Electronic / Digital Payments Service Providers, who:
o fulfil GOI’s mandate of Financial Inclusion,
o DBT mandate to Banks
o One branch One ATM / PoS
o PM Jan Dhan Yojana Mission
 Operationalise MUDRA Bank FY 2015-16
o RuPay Cards to Account Holders of MUDRA Bank
Financial Year 2015-16:
Electronic / Digital Payments Industry is a huge Infrastructure Industry, evolved in India and investing on huge Capital expenditure as well as Operating expendi

 Increase in Credit Cards Limits for transaction carried on PoS and ATMs
 Incentivise PoS Deployers, ATM Deployers and ATM Outsourcing Companies
 Re Issue RuPay for Expired Cards Debit / Credit
 Classifying Electronic / Digital Payments as an Infrastructure Industry
 Subsidy and Concessions for Electronic / Digital Payments Service Providers:
o Reduction or exemption or Concession of Service Tax
o Service Tax holiday
o Tax free holidays

Suggestions / Views on “Draft proposal on Facilitating Electronic Transactions”
SAB KE SAATH SAB KA VIKAS
Short Term: RuPay Cards:
 Increase RuPay Cards Issuance by:
 Public Sector Banks, Private Sector Banks, RRBs, DCCBs and Coop. Banks and Multi SCB
 Increase number of ATM penetration throughout India by Banks thru Outsourced Model
 Increase RuPay Cards acceptance with all BAnks
 Mandatory acceptance of all RuPay Debit and Credit Cards in all ATM and Merchant Est

First it's govt services which are far away from accepting plastic money.

Be it railway, tax, petroleum product or other essential services.

.

Please make it mandatory to install POS terminals by all such places by SBI or other Public undertakings banks.

And remove surcharges imposed by merchants.

Automatically flow will increased , bcoz now almost every bank reduction in number of cash withdrawal from ATM.

It's cheap to install and operate POS terminal than ATM.