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Draft Proposals for Facilitating Electronic Transactions

Draft Proposals for Facilitating Electronic Transactions
Start Date :
Jun 16, 2015
Last Date :
Jun 29, 2015
17:00 PM IST (GMT +5.30 Hrs)
Submission Closed

The Finance Minister in his budget speech for the Union Budget 2015-16 made the following announcement: ...

The Finance Minister in his budget speech for the Union Budget 2015-16 made the following announcement:
“One way to curb the flow of black money is to discourage transactions in cash. Now that a majority of Indians has or can have, a RUPAY debit card. I therefore, proposes to introduce soon several measure that will incentivize credit or debit card transactions and disincentivize cash transaction”.
Accordingly, draft proposals for facilitating electronic transactions (E-transactions) have been prepared. Comments and views are invited on the Draft Proposals.
Draft Proposals For Facilitating Electronic Transactions (The Proposals placed below are only at the draft stage and are being placed here to obtain public opinion. The proposals as they stand at this stage, do not imply any commitment from the government)
The last date to share your views is 29 June, 2015 by 5:00 p.m.

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Showing 1250 Submission(s)
Satyadeep Karnatii
Satyadeep Karnatii 10 years 11 months ago
The draft proposal on electronic transaction is a great measure to curb black money transactions, tax avoidance & reduce corruption. However, the following points must be considered to make India a cashless economy: Reduction of service tax, VAT, surcharge & luxury tax on non-cash transactions No charges on IMPF & other bank transfers User controlled dynamic spend limits on Debit cards Alternative methods for 2 factor authentication Install NFC supported machines at POS
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TN Sharma
TN Sharma 10 years 11 months ago
Cashless transaction should be promoted in between small vendors.Smallvendors should carry cordless cardswiping machine to collect the cash . This will connect the small vendors to the bank. By using swiping machines minimise the risk of pick poketing and theft of cash. Carrying swiping machine is as simple as carrying mobile phones .
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Sanjay Garg
Sanjay Garg 10 years 11 months ago
Our Honorable Prime Minister wants to transact through Credit and Debit Card but Giant Bank of our India State Bank of India issue Credit Card only to some cities of India. I am Income Tax Payer having Income about Rs.800000 but State Bank of India refused to provide Credit because I am resident of Gajraula and there is no provision of providing Credit card to us. So kindly promote Credit and Debit card and suggest SBI to all Indians not certain cities.
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Ashish Lalla
Ashish Lalla 10 years 11 months ago
If tele companies could come uo with a option of a secured payment transfer mode switchover in middle of a normal C to C phone call, wherein the person who has to pay enters the secured mode, where he is required to punch in a pin-code similar to that of an atm code, and enter amount to be transmitted. Thereby the amount would be transmitted between account linked to mobile's no's linked aadhar. Secured payment mode in a voice call should be a 3rd party operated service & govt regulated
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Ashish Lalla
Ashish Lalla 10 years 11 months ago
Govt coukd come up with a new platform, which could be in form of a website or a Mobile App. Here the benficiary has to make the transferor enter his Aadhar no and a password made known to him by his bank, and process the transaction whereby amount could be transferred from the account linked to the Aadhar. So that even if the transferor does not have internet banking, or a mobile with him he could still process thriugh the transaction.
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Ashish Lalla
Ashish Lalla 10 years 11 months ago
Getting a e-payment solution is really difficult for small time enterprises. On the other hand it is also difficult for these e-transaction solution develooers to reach out to the masses and thereby get required market. Govt could play an intermediairy by monitoring work of various solution providers accrediting them, and adjudging beat solution providers in every sector and promote them to their markets through respective sectoral ministeries.
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Ashish Lalla
Ashish Lalla 10 years 11 months ago
Government could encourage small time vendors who deal in daily cash transactions like shopkeeper, milk & vegetable vendors with readily availble sector specific scalable IT platform/solution. MSMEs paying out salaries in e-mode could be given some tax sops Banks, specially PSU banks should improve their internet banking platforms and atleast provide a Mobile App for basic transaction services. Govt could promote them by not taxing them for the cost saved due to increase in e-transactn
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Ashish Lalla
Ashish Lalla 10 years 11 months ago
A serious step in promoting digitisation of transactions would be to atleast make those transactions free of cost. For instance, NEFT, RTGS and IMPS charges of Rs 5 sometimes disuade people from going with them and instead go for cheque and cash modes. Electronic solutions already help in saving bank's transaction costs from Rs 20 per transaction to almost 25 paise. Then I see no nees of burdening and dissuading the customers from going with Electronic modes.
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Naveen Kumar_61
Naveen Kumar_61 10 years 11 months ago
I support this initiative. Please also include this system mainly in Education institutes(school, colleages), Hospitals, Agriculure and related items, Rent Payment(payable/receivevable), Govt offices, Hosipaltility services, bus tickets & rail tickets and passes(including local) and toll gates. etc etc even in small vegetable market(i know its difficult but can find a way).
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