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Another Push to Cashless Payments: BHIM, RuPay Users to Enjoy Cashbacks Soon
August 06, 2018
In a bid to encourage digital payments mainly via domestic services, a proposal for the incentivization of the same was approved this Friday by a panel led by Sushil Modi. Once it’s implemented, users making payments through BHIM UPI and RuPay cards will get a cashback of 20% on the GST amount. However, the maximum cashback is capped at Rs. 100.
The new move is expected to cost the exchequer around Rs. 1,000 every year. It will be borne equally by the central and state governments.
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