Tag: cashless economy

In a bid to drive the cashless economy in the country, the central government is considering making mandatory digital payments at points of consumer interface in all government and departments including railways and road transport corporations. Government payments account for a huge percentage of overall transactions and hence PM Modi wants digital transactions to increase in order to reduce the country's dependence on cash. To achieve this the government is planning to come up with new initiatives. Here is a brief explainer Online payments integrated with BHIM All payment options of government and Public Sector Units will be integrated with with official payment modes such as BHIM and Bharat QR code. Bus, train and Metro ticket counters and licenced kiosks and shops wil...