English हिन्दी
Connect with us

India News

Cabinet approves Rs 2,600 crore incentive for digital transactions

The incentive programme for the promotion of RuPay Debit Cards and low-value BHIM-UPI transactions (person-to-merchant) for a period of one year starting in April 2022 has been authorised by the Union Cabinet, which is presided over by Prime Minister Narendra Modi.

Published

on

BHIM-UPI

The incentive programme for the promotion of RuPay Debit Cards and low-value BHIM-UPI transactions (person-to-merchant) for a period of one year starting in April 2022 has been authorised by the Union Cabinet, which is presided over by Prime Minister Narendra Modi.

A budgetary investment of Rs 2,600 crore has been allocated for the incentive programme for the promotion of RuPay Debit Cards and low-value BHIM-UPI transactions (P2M) in FY 2022–23. For the current fiscal year FY 2022–23, acquiring banks will get financial incentives under the aforementioned programme to encourage Point-of-Sale (PoS), e-commerce, and low-value BHIM–UPI transactions (P2M).

The government intends to maintain the financial support for digital payments introduced in the previous Budget, with an emphasis on encouraging usage of payment platforms that are affordable and user-friendly, the Finance Minister stated in her address on the Budget for FY 2022-23. The plan was created in accordance with the aforementioned Budget release.

In accordance with the FY2021–22 budget release, the government established an incentive programme in FY2021-22 to further promote digital transactions. Because of this, the overall volume of digital payment transactions has increased annually by 59%, from 5,554 crore in FY2020–21 to 8,840 crore in FY202–21. Transactions through BHIM-UPI increased by 106% year over year, from 2,233 crore in FY2020–21 to 4,597 crore in FY202–21.

Read Also: Joshimath is sinking: 723 affected families to be compensated with Rs 1.5 lakh, demolition of only 2 hotels not houses

The Reserve Bank of India (RBI) and a number of other participants in the digital payments ecosystem raised concerns about the negative effects of the zero MDR regime on the development of the digital payments ecosystem. The National Payments Corporation of India (NPCI) also asked for the encouragement of BHIM-UPI and RuPay Debit Card transactions in order to develop a cost-effective value proposition for ecosystem stakeholders, expand merchant acceptance footprints, and hasten the transition from cash to digital payments.

The Indian government is launching a number of measures to promote digital payments all around the nation. Digital payment transactions have grown significantly during the past few years. Digital payments made it easier for businesses, notably small retailers, to operate during the Covid-19 crisis and contributed to the upkeep of social distance. In the month of December 2022, UPI set a record with 782.9 billion digital payment transactions worth $12.82 trillion.

This incentive programme will make it easier to develop a strong digital payment ecosystem and promote digital transactions using the BHIM-UPI and RuPay Debit Cards. In keeping with the goal of “Sabka Saath, Sabka Vikas,” the programme will also advocate for UPI Lite and UPI 123PAY as affordable and user-friendly digital payment options and help the nation’s adoption of digital payments across all industries and demographic groups.

Jammu-Kashmir: 3 army jawans including JCO die after their vehicle falls into gorge

Varisu vs Thunivu: Ajith-Vijay fans clash outside cinema hall in Chennai, films’ posters torn

India News

Nawaz Sharif urges Shehbaz Sharif to pursue diplomacy over aggression against India

Nawaz Sharif has advised Prime Minister Shehbaz Sharif to avoid aggression and focus on diplomacy following India’s suspension of the Indus Waters Treaty.

Published

on

Nawaz-Sharif

In a significant development amidst escalating regional tensions, former Pakistan Prime Minister Nawaz Sharif has urged his younger brother and current Prime Minister, Shehbaz Sharif, to adopt a diplomatic approach rather than an aggressive stance towards India.

During a meeting in Lahore on Sunday evening, Shehbaz Sharif briefed Nawaz Sharif about the government’s recent actions against India, following India’s decision to suspend the Indus Waters Treaty (IWT) after the Pahalgam attack. The Pakistani government, in response, had closed its airspace for India and reportedly stepped up its readiness to counter any hostile moves.

Sources indicate that Shehbaz Sharif expressed concerns about India’s suspension of the water-sharing agreement, warning that it could escalate tensions dangerously in the region. He emphasized Pakistan’s preparedness to respond strongly if necessary.

However, Nawaz Sharif, founder of the ruling Pakistan Muslim League-Nawaz (PML-N), advised a more measured path. He recommended using all diplomatic avenues to de-escalate tensions and restore peace with India. Nawaz Sharif stressed the importance of avoiding any aggressive actions that could worsen the situation.

In a related move, Pakistan’s Defence Minister Khawaja Asif has suggested the formation of an international commission comprising representatives from countries like the United States, Russia, China, and Britain to investigate the Pahalgam attack, seeking broader international involvement in addressing the conflict.

The ongoing situation between India and Pakistan remains delicate, with calls from within Pakistan’s leadership for calm and dialogue to prevent further deterioration.

Continue Reading

India News

Asaduddin Owaisi criticises Bilawal Bhutto’s remarks amid Indus Waters Treaty row

Asaduddin Owaisi hits out at Bilawal Bhutto Zardari for his provocative “blood will flow” remark after India suspended the Indus Waters Treaty, highlighting the tragic consequences of terrorism.

Published

on

Pakistan Foreign Minister Bilawal Bhutto Zardari

AIMIM leader and Hyderabad MP Asaduddin Owaisi has strongly rebuked Pakistan People’s Party (PPP) leader Bilawal Bhutto Zardari over his controversial statement following India’s suspension of the Indus Waters Treaty. Owaisi reminded Bhutto of the tragic assassinations of his mother, former Pakistan Prime Minister Benazir Bhutto, and grandfather, former President Zulfikar Ali Bhutto.

Bilawal Bhutto, who was Pakistan’s Foreign Minister till 2023 and remains an influential figure in the ruling coalition, had issued a provocative warning after India’s decision, reportedly saying, “The Indus is ours and will remain ours – either our water will flow through it, or their blood.”

Responding to these remarks, Owaisi said Bhutto should reconsider his words, recalling how terrorism claimed the lives of his mother and grandfather. “Forget about such childish talk. His mother was killed by terrorists. He should not speak in this manner,” Owaisi said, stressing that terrorism must be condemned universally and not selectively.

Owaisi also criticised Pakistan’s leadership for threatening India with nuclear weapons, highlighting the brutality of recent terror attacks. “If you enter a country and kill innocents, no nation will remain silent,” he said. He compared extremist elements to the Khawarij and ISIS sympathisers, known for their radical ideologies.

The assassination of Benazir Bhutto in Rawalpindi in December 2007 has long been linked to extremist groups, though the case remains unresolved.

Bilawal Bhutto’s comments have sparked wide condemnation across India’s political spectrum. Union Minister Hardeep Singh Puri suggested that Bhutto should undergo a mental health evaluation, while Congress MP Shashi Tharoor labelled the remarks “inflammatory.” Tharoor warned that any aggression from Pakistan would be met with an appropriate response, asserting, “If blood is going to flow, it will possibly flow more on their side than ours.”

Continue Reading

India News

India inks Rs 63,000 crore deal for 26 Rafale-M jets to strengthen naval fleet

India has signed a ₹63,000 crore deal with France to acquire 26 Rafale M fighter jets, strengthening the Navy’s capabilities aboard INS Vikrant and INS Vikramaditya.

Published

on

India has finalized a major ₹63,000 crore agreement with France for the acquisition of 26 Rafale M fighter jets, enhancing its maritime strength significantly. This government-to-government deal, signed on Monday, includes 22 single-seater and four twin-seater trainer variants, with delivery expected by 2031.

The deal not only covers the procurement of the jets but also includes comprehensive fleet maintenance, logistical support, and training for Navy personnel. In a notable boost to the ‘Atmanirbhar Bharat’ initiative, indigenous manufacturing of several components will be undertaken under offset obligations.

The Rafale M, currently operated only by the French Navy, is renowned for its superior capabilities among naval fighter jets globally. It features Safran Group’s reinforced landing gear, folding wings, and a robust undercarriage designed to endure the tough conditions of carrier-based operations.

The Indian Navy plans to deploy these new Rafale-M fighters aboard its aircraft carriers, INS Vikrant and INS Vikramaditya, replacing the ageing fleet of MiG-29K aircraft. This move is expected to significantly bolster India’s maritime defense capabilities, especially amid rising security challenges in the Indian Ocean region.

In December, Navy Chief Admiral Dinesh Tripathi emphasized a strategic shift to “negate” any infringement in India’s operational areas, highlighting the preparedness to counter threats from neighboring regions.

India’s Air Force, which already operates 36 Rafale ‘C’ variant jets from northern bases, will also benefit indirectly through upgrades to systems like the ‘buddy-buddy’ aerial refueling capability, allowing fighter jets to stay airborne for extended missions.

Looking ahead, the Navy is also progressing toward the induction of indigenous fifth-generation, twin-engine deck-based fighters, being developed by the Defence Research and Development Organisation (DRDO). These fighters will complement the Air Force’s upcoming Advanced Medium Combat Aircraft (AMCA), further strengthening India’s air and maritime security architecture.

Continue Reading

Trending

© Copyright 2022 APNLIVE.com