NPCI and Niti Aayog has launched two new schemes named - "Lucky Grahak Yojana" and "Digi Dhan Vyapar Yojana" to promote use of digital transactions. Under these schemes, there will be weekly lucky draws and rewards for customers and merchants (shopkeepers, retailers) to use digital payments instead of cash transactions.
The rules of the scheme allow only a set of transactions for lucky draws and...
Paytm is currently seeing wide adoption due to massive cash crunch after demonitisation. Lot of people have started using paytm to receive money, but they are unclear about how to transfer money from their paytm wallet to their bank account.
Luckily the process is very easy. Following is a step by step guide to to transfer money followed by 1) Charges for transferring money to bank account, 2) minimum and max amount limits.
AEPS full form is 'Aadhar Enabled Payment System'. AEPS payments is a digital money transfer mechanism built on top of Aadhar.
AEPS allows a bank customer to use Aadhaar as his/her identity to access his Aadhaar enabled bank account and perform basic banking transactions like balance enquiry, cash deposit, cash withdrawal, money transfers through a Business Correspondent.
To promote cashless payments, Indian government has launched a reward scheme for consumers called 'Lucky Grahak Yojana'. Under this scheme, every consumer making a payment using approved digital payment systems will be added to a lucky draw and people will get cash rewards.
India is still seeing a lot of problems in day to day cash transactions due to limited availability of cash. Government is now looking aggressively towards digital or cashless payments to alleviate this problem. To promote digital payments, Indian Government has launched multiple schemes and rewards on Dec 15th.
Digi Dhan Vyapar Yojana is to promote digital payments among shopkeepers, merchants...
One of the most common problem with digital e-wallet solutions like Paytm is that you don't know what to do when Internet connection is not working. Internet connectivity in India varies a lot based on your location -- while it is pretty good in metros and big cities, it is either non existing or very slow in villages.
Due to demonitisation, lot of shopkeepers, merchants and businesses have ...
After demonitisation on Nov 8, Indian economy is still reeling under the pressure of limited cash and only way out is to move towards digital cashless payments. This has become even more essential for shopkeepers and retailers who are loosing daily business as customers don't have enough cash or they don't have enough change. Due to its already established setup, paytm has emerged as the best ...
State Bank of India has launched its UPI App (called SBI pay) on Nov 25, 2016. Currently 'SBI Pay' app is only available for android phone (ios version is blocked waiting specification from NPCI).
For people who are new to UPI, UPI stands for Unified Payment Interface and it is a new initiative from Government of India to make phone based money transactions easy and simple. Using UPI one can ...
Section 80CCC in income tax relates to tax saving due to contributions to pension funds of LIC or other insurer. Basically, if you have invested in schemes or funds that promises a pension (or annuity), than you can deduct your yearly contributions from your total income while calculating income tax
Please note that max possible deduction under this scheme is Rs 1.5 Lakhs for FY 2016 - 2017 (...
Humlog has been publishing articles about personal finance and related themes for some time now. Many of our readers have been asking to create a broader guide to personal finance in India. But over the time we have realized that financial schemes,regulations, and investments need to be seen in the broader context of 'living a meaningful and fulfilled life'.