What is Digitization scheme:
Money based Digital transactions enable end users to transact on the digital computerized format which will convert the transaction information into the digital format which is indeed the discrete units of data. Digitization scheme is also known as “Digi Dhan Vyapar Yojan”.
Digitization scheme is to promote the digital transactions. Indian government is promoting for the digital payment through this scheme, where government will award the cash payment upon making the digital transaction. This cash award end user can avail in the form of immediate cashback upon his digital transaction.
Government of India launched this promotional digitization scheme in December 2016 to spread the awareness of the digitization across the country. This scheme gives cash award to consumers who utilize digital payment applications for their own personal consumption expenditures.
Why Digitization Scheme is Launched and Digitization Benefits:
This scheme’s main moto is to prohibit the, “black money” and pull poor, lower middle-class family, small businesses into the digitization which is the digital payment fold.
Digitization is the most wishful scheme launched by Government of India. This scheme will enable the government to keep eye on each end user transaction. As all the transactions are being monitored and recorded there is no way left for merchant to hide the tax. This will also prohibit the illegal transactions. This can also be effective in the removal of the black money. Ultimately digitization scheme will increase the government revenue, restrict illegal transactions, and improve the empowerment of the people.
Who is NPCI:
NPCI is a national payment corporation of India, it’s a non-profit organisation owned by the participation of the several major banks. NPCI is been promoted by the India’s central bank The Reserve Bank of India
Who Implemented Digitization Business Scheme:
NPCI, National Payment Corporation of India is the working hand behind Digi-Dhan Vypar Yojana. NPCI has implemented this scheme. NPCI is government company and it’s a non-profit company who is in charge of the responsibility to define and guide Indian population towards being a cashless society.
Benefits of the Digitalised transactions:
This scheme is mainly aiming “INCENTIVIZE DIGITAL TRANSACTIONS” so that the electronic payments are accepted and utilised in daily basis for personal expenditures by all sections of the society. This scheme is mainly aiming lower middle class, poor, and small businesses for the adoption of electronic based transactions.
Important thing to notice here is, this scheme has been launched by the Government of India by keeping in mind all sections of the societies and their usage patterns.
BHIM is another initiative by government of India to promote the electronic based transactions. To know more click here. On the base ground of digitization scheme you can start using the digital payment based platforms available in the market and can start saving more money.