Cabinet approves reimbursement of Rs 1,300 crore on digital transactions using UPI, Rupay debit card
The Union Cabinet approved reimbursement of Rs 1,300 crore on digital transactions using UPI and Rupay debit cards, Electronics and IT Minister Ashwini Vaishnaw said.
The Union Cabinet on Wednesday approved reimbursement of Rs 1,300 crore on digital transactions using UPI and Rupay debit cards, Electronics and IT Minister Ashwini Vaishnaw said.
The minister said that the government will reimburse transaction charges levied on digital payments made by persons to the merchant as part of the merchant discount rate (MDR).
"In the coming one year...The government will invest around Rs 1,300 crore so that more and more people move towards digital payments," Vaishnaw said.
He also said that 423 crore digital transactions valued at Rs 7.56 lakh crore took place in November.
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