New Delhi: The Cabinet on Wednesday approved a Rs 2,600 crore scheme for promoting RuPay debit cards and low-value BHIM-UPI transactions. Under the scheme, banks would be provided financial incentives for promoting Point of Sale (PoS) and e-commerce transactions using RuPay and UPI in the current financial year.
Cabinet clears Rs 2,600 cr scheme to promote RuPay debit card, low value BHIM-UPI transactions
In order to promoting RuPay debit cards and low-value BHIM-UPI transactions, the Cabinet on Wednesday approved a Rs 2,600 crore scheme.
UPI RuPay debit card
It would help in building a robust digital payment ecosystem. The scheme would also promote UPI Lite and UPI123PAY as economical and user-friendly digital payments. "Cabinet approves the incentive scheme for promotion of RuPay Debit Cards and low-value BHIM-UPI transactions (Person-to-Merchant)," said an official tweet. (PTI)