With the motive of inducing cashless transactions as the habit of the people, Narendra Modi appointed a committee of digital payments which is led by AP CM Chandrababu Naidu. The committee has conducted various campaigns to take the digital payments to the next level.
Now it is time to submit the report to the Centre and Naidu with his team have submitted the digital payments report to the Prime Minister on Tuesday. Naidu focussed on the suggestions from the committee to the center in order to improve Digital transactions across the nation. The key recommendation of the committee was to eliminate the Merchant Discount Rate (MDR) for the digital transactions.
Committee also has proposed center to promote Adhar Enabled Payment System and to refund the tax for specific income. The report suggested insurance for all the cashless transactions which help people to prefer the digital payments. Other tax subsidy plans were also included in the report. Apparently, 2017 may expect interesting changes in the digital payments in India.
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