GoI plans to give cash awards to consumers and merchants who utilise digital payment instruments for personal consumption expenditures.
The scheme specially focuses on bringing the poor, lower middle class and small businesses into the digital payment fold.
It has been decided that National Payment Corporation of India (NPCI) shall be the implementing agency for this scheme.
The primary aim of these schemes is to incentivise digital transactions so that electronic payments are adopted by all sections of the society, especially the poor and the middle class.
People in village and rural areas can participate in this scheme through AEPS.
The scheme will become operational with the first draw on 25th December, 2016 (as a Christmas gift to the nation) leading up to a Mega Draw on Babasaheb Ambedkar Jayanti on 14th April 2017. It will comprise of two major components, one for the Consumers and the other for the Merchants.
To ensure that the focus of the scheme is on small transactions (entered into by common people), incentives shall be restricted to transactions within the range of INR 50 and INR 3000. All transactions between consumers and merchants; consumers and government agencies and all AEPS transactions will be considered for the incentive scheme.
The winners shall be identified through a random draw of the eligible Transaction IDs [which are generated automatically as soon as the transaction is completed] by software to be especially developed by NPCI for this purpose.
The estimated expenditure on the first phase of the scheme (up to 14th April 2017) is likely to be 340 Crores .
Lucky Grahak Yojana [Consumers]Daily reward of INR 1000 to be given to 15,000 lucky Consumers for a period of 100 days;
Weekly prizes worth INR 1 lakh, INR 10,000 and INR 5000 for Consumers who use the alternate modes of digital Payments
This will include all forms of transactions viz. UPI, USSD, AEPS and RuPay Cards but will for the time being exclude transactions through Private Credit Cards and Digital Wallets.
Digi-धन Vyapar Yojana [Merchants]Prizes for Merchants for all digital transactions conducted at Merchant establishments
- Weekly prizes worth INR 50,000, INR 5,000 and INR 2,500
- Mega Draw on 14th of April - Ambedkar Jayanti
- 3 Mega Prizes for consumers worth INR 1 cr, 50 lakh, 25 lakh for digital transactions between 8th November, 2016 to 13th April, 2017 to be announced on 14th April, 2017
- 3 Mega Prizes for merchants worth INR 50 lakhs, 25 lakh, 12 lakh for digital transactions between 8th November, 2016 to 13th April, 2017 to be announced on 14th
