The helpline number would be made operational soon
RBI allowed banks to issue prepaid instruments to any institution that can be given to their employees
The objective of digital initiative is to halve the cash to GDP ratio to 6% over the next three years
In a letter, the Government and Nasscom urges the IT companies to participate and form team of volunteers with minimum 100 employees
The finance minister recently announced a 0.75% discount on fuel purchases if you make a digital payment at a petrol pump
To incentivise transactions through the digital mode
PM reviews situation of cash shortage; withdrawal limits likely to continue
The service is expected to be operational within a week
Spurred by smartphone penetration, and supported by progressive regulatory policy, the digital payments industry is at an inflection point and is set to grow 10 times by 2020
Contribution of this market to the country's GDP is likely to be 15%
While the tech-savvy have reduced their dependence on cash by 30-40%, many are still not using cards because merchants charge them extra