Incentive schemes on Digital Payments

The Niti Ayog's scheme have seen 7.6 lakh citizens receive reward money worth Rs 117 crore in 45 days for using digital modes of payment.

NITI Aayog's dual incentive schemes - Lucky Grahak Yojana and DigiDhan Vyapar Yojana - is turning out to be a major success about a month and half since its launch.

Numbers from National Payments Corporation of India, the executing agency shows that till date Rs 117.4 crore has been disbursed as reward to more than 7.5 lakh consumers and merchants. Besides the daily cash backs to 15,000 consumers, 90 additional consumers and 3,000 merchants have won Rs1 lakh and Rs 50,000 each as weekly prize money for adopting this scheme.

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Latest data shows that Maharashtra, Tamil Nadu, Andhra Pradesh, Uttar Pradesh and Karnataka have emerged as the top five states with the maximum number of winners. The diversity in the age group of the winners range from 15 to 66 years of age. The involvement of elder people in the movement refutes the notion that they find it challenging to embrace emerging technologies.

The winners vary from farmers, merchants, small entrepreneurs, professionals, housewives to retired people. The winners come from a wide swath of geographical area and include both rural and urban populace.  The benefits of using digital payments seems to have reached most parts of India.

Both of NITI Aayog's schemes  - Lucky Grahak Yojna and Digi-Dhan Vyapar Yojna were launched on December 25, 2016 and are open till April 14, 2017. These are aimed at providing incentives for the buyer and teh seller in order to promote digital payments. There are 15,000 daily winners for total prize money of Rs 1.5 crore. Additional there are over 14,000 weekly winners who qualify for a weekly prize money of over Rs 8.3 crore.

Customers and merchants can use  any of these payment methods - RuPay Card, BHIM/UPI, USSD based *99# service and Aadhaar Enabled Payment Service and they will be eligible for wining lucky draw prizes.

NPCI is also working in tandem with the government to organise Digi Dhan Melas. By April 14, 2017 there will be some 110 Digi Dhan Melas. Till date 45 Digi Dhan Melas have been organised. This move will hopefully help to the habit of digital payment amongst peoples.