Demonetisation decoded by FM: one month since it was launched by PM

In the biggest ever Digital Bonanza for the consumers in the country, post the demonetisation move by the government of India, Finance Minister, Arun Jaitley in a press conference on Thursday, December 8, 2016 has outlined a slew of measures to promote cashless transactions.

In a bid to endorse digital payments, FM announced following benefits:

·For those using cards and e-wallets, Petrol and Diesel purchases will now attract a 0.75% discount.

·The government will provide 2 Point of Sale machines for free to each village that has a population of over 8,000.

·Railways to give 5% discount on catering and retiring room on payment by digital mode.

·All railway passengers who buy tickets online get free accident insurance cover worth Rs 10 lakh.

·Monthly and seasonal tickets for suburban railways to offer 0.5% disc on digital payments.

·Insurance bought online from customer portal of public sector companies will get 8% discount for life and 10% for general insurance.

·Digital transactions up to Rs 2,000 will be exempted from service tax.

·Highway toll will see 10% discount on digital payments.

·NABARD will give Rupay card to people who have Kisan Credit Card. 

All the benefits announced will be implemented with immediate effect.