Demonetisation: Now, win up to Rs 1 crore by making digital payments

These schemes will not cover transactions made through private credit cards and e-wallets.

National Payments Corporation of India (NPCI) – an umbrella organisation for all retail payments system in India, will be the implementing agency for the schemes.

Under the ‘Lucky Grahak Yojana’ beginning December 25, NPCI will announce 15,000 winners of Rs 1,000 each as cash-back for 100 days.

In addition, weekly draws of 7,000 winners will be announced with a maximum prize of Rs 1 lakh.Under the ‘Digi Dhan Vyapari Yojana’, 7,000 weekly awards of Rs 50,000 for merchants will be announced.

Both the schemes will go on till Babasaheb Ambedkar Jayanti on April 14.

In addition to daily and weekly awards, on April 14, 2017 a mega draw will be held offering three prizes of Rs 1 crore, Rs 50 lakh and Rs 25 lakh for the consumers under the ‘Lucky Grahak Yojana’ and Rs 50 lakh, Rs 25 lakh and Rs 5 lakh for merchants under the ‘Digi Dhan Vyapari Yojana.’

The schemes are estimated to cost Rs 340 crore.

All consumer-to-merchant, consumer-to-government and Aadhaar-enabled transactions will be eligible for the draw lots.

The schemes will not cover transactions outside Rs 50-Rs 3,000. People-to-people and business-to-business transfers will also not be eligible.

“The two schemes are meant to provide incentives to consumers in villages and small towns and small merchants to move to digital mode of payments,” Kant said.

“The onboarding of merchants will lead to onboarding of consumers to the digital payments mode,” he added.