May 20, 2025 07:35 pm (IST)
Follow us:
facebook-white sharing button
twitter-white sharing button
instagram-white sharing button
youtube-white sharing button
'Russia, Ukraine will immediately start negotiations for ceasefire': Donald Trump after call with Putin | 'Jill and I have learned that we are strongest in the broken places': Joe Biden on cancer diagnosis | Rahul Gandhi targets Jaishankar over Op. Sindoor again, BJP says LoP speaking Pak language | Supreme Court orders SIT probe into Madhya Pradesh minister's remarks on Colonel Sofiya Qureshi | Bengaluru: Woman killed after wall collapses on her after heavy rainfall | Pak forces targeted Golden Temple after India conducted Operation Sindoor: Army | YouTuber Jyoti Malhotra, arrested for 'espionage', travelled to Pakistan ahead of Pahalgam attack | Centre picks Shashi Tharoor to head all-party delegation for 'exposing' Pak-backed terrorism globally | Rape convict, survivor express willingness to get married; exchange flowers in Supreme Court | 'Are nukes safe with irresponsible and rogue nation like Pakistan?': Rajnath Singh questions world
Facebook/NPCI

Cabinet approves ₹1,500 cr incentive scheme to promote low-value UPI transactions

| @indiablooms | Mar 20, 2025, at 12:06 am

New Delhi: The Union Cabinet on Wednesday approved an incentive scheme worth approximately ₹1,500 crore to encourage UPI transactions below ₹2,000 during the financial year 2024-25, according to an official statement.

Under the scheme, the government will cover the Merchant Discount Rate (MDR) for transactions under ₹2,000 made by individuals to merchants.

"The Union Cabinet chaired by Prime Minister Narendra Modi today approved the 'Incentive Scheme for promotion of low-value BHIM-UPI transactions (Person to Merchant - P2M)’ for 2024-25," the statement said.

The scheme, aimed at boosting digital payments, will be implemented with an estimated outlay of ₹1,500 crore from April 1, 2024, to March 31, 2025.

Support Our Journalism

We cannot do without you.. your contribution supports unbiased journalism

IBNS is not driven by any ism- not wokeism, not racism, not skewed secularism, not hyper right-wing or left liberal ideals, nor by any hardline religious beliefs or hyper nationalism. We want to serve you good old objective news, as they are. We do not judge or preach. We let people decide for themselves. We only try to present factual and well-sourced news.

Support objective journalism for a small contribution.
Related Videos
FM Nirmala Sitharaman presents Budget 2025 Feb 01, 2025, at 03:45 pm
Nirmala Sitharaman on Budget 2024 Jul 23, 2024, at 09:30 pm
PM Modi on Budget 2024 Jul 23, 2024, at 09:30 pm
Close menu