Does Budget 2017 have what it takes to make India a less-cash economy?

The Modi govt is walking the talk and putting money where their mouth is, reports Tech in Asia

Among the many firsts in Union Budget 2017, policy and Budget measures to construct a digital economy stood out as original and groundbreaking measures.

Referral bonus scheme for individuals and cashback scheme for merchants via the BHIM app

To promote the activation and the use of BHIM or Bharat Interface for Money (riding on NPCI’s UPI infrastructure for peer-to-peer payments), the cashback and referral bonus schemes should be backed by a user experience comparable with popular wallets in the market. 

Aadhaar Pay and nationwide roll-out of Aadhaar-based point of sale terminals

An alternative payment system that enables sending and receiving