NPCI will announce 15,000 winners of 1000 rupees each for next 100 days, starting from Christmas

In a move to promote digital payments, the government of India has announced slew measures.

NITI Aayog CEO, Amitab Kant announced the #LuckyGrahakYojna.

The following points are the highlights of the scheme.

Digital payments through RuRay cards, UPI, AEPS and USSD between Rs 50-3000 will be eligible for awards. There will be a different prize for consumers and merchants.

Under the Lucky Grahak Yojna, daily 15,000 winners will eligible for a prize worth Rs 1,000 for the next 100 days starting December 25. A weekly award for around 7,000 consumers eligible for a maximum prize of Rs 1 lakh was announced.

NPCI will announce 15,000 winners of 1000 rupees each for next 100 days, starting from Christmas.

Under the Digi-Dhan Vyaapari Yojna, every week, more than 7,000 merchants will be eligible for Rs 50,000 prize.

Mega awards, in both the categories will be declared on the occasion on the birth anniversary of Dr Bhimrao Ambedkar. Under this Mega Award, consumers can win prize worth Rs 1 rore, Rs 50 lakh and Rs 25 lakh.

While merchants can win prize worth Rs 50 lakh, Rs 25 lakh, and Rs 5 lakh.

"Lucky Grahak Yojana and Digi Dhan Vyapari Yojana is Christmas gifts for the nation", said Amitab Kant.

Read Source>>>

One platform, multiple benefits

The government and a digital think-tank called i-Spirit (comprising people who built the government's Aadhaar initiative) are working together on a technology called IndiaStack. This has the potential to bring down costs involved in financial transactions, make account opening with banks, mutual funds, etc, easy, and also make the process paperless and quicker. The technology platform also has the potential to bring down cash transactions in the economy.

• How it works

IndiaStack is structured as a four-layered pyramid, where all or a combination of these can work together.

Aadhaar-based digital identity: The first layer will provide a universal biometric digital identity, based on your Aadhaar details. This will enable online authentication through the fingerprint or iris......

• Makes your life easy

Consider the case of Saurabh Bhatia, a grocery store owner, who wants to open a bank account. He has been postponing this task, as he will need to visit a bank at a time when he is needed at his shop. He will also need to carry original and photocopies of documents to provide proof of identity and address, then wait for the bank to process his request. It will take him at least a couple of working days to get an operational account......

• Better financial products

However, it is not only Bhatia who will benefit from this open digital infrastructure called IndiaStack. The platform has the potential to transform the financial landscape by enabling product innovation, reducing customer acquisition and operating costs, and enabling larger sections to access financial products.....

---

---

INDIASTACK TO REDUCE COSTS

• Send documents using DigiLocker for identity and address proof
   
• Get KYC done instantly online
   
• Documents can be signed online using digital signatures
   
• Once on-boarded, instantly transact using UPI
   
• Institutions pay a fraction of current cost they incur for customer acquisition
   
• Lower costs can be passed on to customers in form of lower commissions and processing fee

  ---

   

👉  Read Source