In a fresh set of measures to try and ease the inconvenience faced by citizens of the country due to demonetisation of Rs 500 and Rs 1000 notes, the government has said that no charges will be levied on debit card use till December 31.
Here’s a list of the latest measures announced by the government
- All public sector banks and some private sector ones have agreed to waive the transaction cost for all payments made through debit cards, Economic Affairs Secretary Shaktikanta Das said.
- As of now, Rupay debit cards have already waived the switching charges. Other debit cards which operate international card network companies like Mastercard and Visa, currently charge transaction charges.
- The government said the intention behind this decision is to ensure greater penetration of digital transactions into our economy and to ensure that more and more people migrate towards digital transactions.
- The National Bank for Agriculture and Rural Development (NABARD) will provide Rs 21,000 crore rupees in farm credit to help the sowing of winter crops such as wheat
- Indian railways has waived off service charges on e-tickets booked till December 31
- All digital transactions conducted through feature phones will also not be levied with service charges till December 31
- All government organisations, PSUs and agencies have been advised to use digital payments to pay salaries and other expenses
Featured image source: Reuters