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IT ministry to promote digital transactions

President Pranab Mukherjee has given nod to change government of India

Press Trust of India  |  New Delhi 

digital, wallet, cashless, transaction, online, digital, payment

The works relating to promotion of transactions will be looked after by Ministry of Electronics and (Meity), according to the new rules.

President has given nod to change of India, Allocation of Business Rules, 1961, to delegate work of "Promotion of Transactions including Payments" to the Meity, an order issued by Cabinet Secretariat said.

The Ministry is tasked with promotion of e-governance for empowering citizens, promoting inclusive and sustainable growth of the electronics, and information technology-enabled services industries, enhancing efficiency through digital services and ensuring a secure

The central is emphasising upon digital payment, especially after of old Rs 500 and Rs 1,000 notes and taking many steps in this regard.

The Union Cabinet chaired by Prime Minister had in February last year given its approval for introduction of steps for promotion of payments through cards and digital means. The move aims at reducing cash transactions.

"Promotion of payments through cards and digital means will be instrumental in reducing tax avoidance, migration of payments and collections to cashless mode, discourage transactions in cash by providing access to financial payment services to the citizens to conduct transactions through card or digital means and shifting payment ecosystem from cash dominated to non-cash/less cash payments," according to an official press release issued then.

The Centre had in December 2016 decided on a package of incentives and measures for promotion of digital and cashless economy in the country.

First Published: Thu, February 16 2017. 16:42 IST