Govt payment options to push for BHIM, UPI & Bharat QR

Govt feels demonetisation provided boost to digital transactions to make India cash-less economy

The government will on October 2 launch a concerted campaign on digital transactions involving all ministries, states and public sector units.

Prime Minister Narendra Modi wants digital transactions to increase in order to reduce the country’s dependence on cash. Last year’s demonetisation was also aimed at increasing digital transactions.

According to the government’s action plan, all online payment options of the government or PSUs will include BHIM or UPI and all government receipt counters will display the Bharat QR code.

“All bus, train and Metro ticket counters and licenced kiosks and shops will display the Bharat QR code and discounts will be offered for digital payments,” a source said.

The government is also considering printing the Bharat QR code on all utility bills as a payment option and telecom operators will be told to ensure its prominent display at recharge outlets offering additional talk time for digital payment.

Ministries, states and PSUs will proactively publicise and promote digital payments.

According to the government, the real objectives of demonetisation were formalisation of the economy and digitisation of transactions. The Reserve Bank of India’s (RBI) annual report states over Rs 15 lakh crore of scrapped currency notes have returned to the banking system after demonetisation.

The government feels demonetisation has provided a boost to digitalisation of payments to make India a less-cash economy.