The Government of India seeks to promote digital payment methods to encourage consumers and merchants to increasingly shift to these payment modes. The two schemes, namely Lucky Grahak Yojana for Consumers and Digi-Dhan Vyapar Yojana for Merchants were launched to nudge people towards significantly higher usage of digital transactions through the offer of incentives.
The Lucky Grahak Yojana and the Digi-Dhan Vyapar Yojana offered cash awards to consumers and merchants who utilized digital payment instruments for personal consumption expenditures. The scheme specially focused on bringing the poor, lower middle class and small businesses into the digital payment fold. The National Payment Corporation of India (NPCI) implemented the scheme.
The scheme was operational during the period 25th December, 2016 to 14th April 2017.
The scheme comprised of two major components, one for the Consumers and the other for the Merchants:
The winners were identified through a random draw of the eligible Transaction IDs (which are generated automatically as soon as the transaction is completed] by software specially developed by NPCI for this purpose. The winners of lucky draw receive a message from their banks and the reward money is credited into their bank accounts over the next 24 hours.
The draws for these events took place in 100 different cities around India, in an event at each of these cities where DigiDhan Mela was also organised. Presence of various stakeholders of the digital payment ecosystem, like banks, wallets, telecom service providers, other financial service providers, UIDAI at these Digidhan Melas provided the opportunity to the citizens – both consumers and merchants – to get educated about digital payment options available, the ease of use and also benefit from hand holding provided by the service providers which would encourage wide-scale adoption of digital payments methods. In the long term such a mass movement is expected to shift large sections of the consumer and producer sections which was hitherto in the informal sector to the formal fold of the economy.
Source : NITI Ayog
Last Modified : 2/21/2020
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