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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)
AJAY KUMAR YADAV
AJAY KUMAR YADAV 10 years 10 months ago
Very Good initiative. But many people keep several bank accounts and cards. So, all the Bank A/c must be linked with Aadhar Card and PAN Card. the mimimum limit upto which cash transaction can be done should be kept low.
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Swati Patil
Swati Patil 10 years 10 months ago
Excellent Proposal; especially for people who solely do all the transactions electronically; hassle free and beneficial ....
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Srirama_2
Srirama_2 10 years 10 months ago
Very good move to reduce black money generations. 1. As we move to cashless economy, we need to recall the high denomination notes from circulations effectively forcing to use online transactions. 2. Some of the shopkeepers charging 2% above the MRP for using the credit/debit cards. If law forbids such charges, those should be punished by ways of penalties. 3. Currenlty in some shops, minimum amount to use credit/debit card Rs100 or above. There should not be any minimum amount to use card
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PREM CHANDAR S
PREM CHANDAR S 10 years 10 months ago
Excellent proposal. 1.All major transaction above one lakh should be through cheque/card/internet banking only. 2.Limit max. cash withdrawal to Rs.50,000 only/month 3.Issue Ru-Pay cards to all citizens. 4.Give rebate of 1% to cashless & charge 1% extra for cash transaction-difference is 2% 5.Remove 1000 rupee from circulation to start with 6.By slowly removing currency notes,we save printing charges and soiled notes replacement charges. 7.All shops to have card readers compulsorily
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Santhosh George
Santhosh George 10 years 10 months ago
Really an appreciable move. But transaction charges should be kept at minimum, so that it will encourage users to use plastic cards. I have seen some shop keepers discouraging users from using plastic cards, saying it will involve additional transaction costs, which customer should be ready to pay. Similar mechanism should be there in real estate transactions as well.
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Sankalp Shanbhag
Sankalp Shanbhag 10 years 10 months ago
This proposal is need of hour. Some practical situations I faced as follows : Whenever we go to purchase any electronic goods or any local shop the seller hesitates to do transaction through debit or credit card. He straight forwardly tells buyers to bare 2% extra charged by banks to them as POS charge. Petrol pump companies are the biggest cheats as they tie up with ICICI or CITI or some likely money minded banks.In many cases such banks charge upto 2% or > of the petrol/ diesel bill.
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Anuraag Srivastava
Anuraag Srivastava 10 years 10 months ago
Small handy POS machines will help all small value payments also to be routed through e-route. This will promote all daily use vendors to start keeping this machine and enable general public to use card payment at vegetable vendors,grocery shops,dhabas,auto rickshaws, hand pulled rickshaws,within train purchases,Tea shops and any such purchase outlet where we need to fumble for change and pay small amount of cash.
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