No charge on transactions up to Rs 2000 by debit card

For further payment of digital payment, the Government will pay the fee on Debit Card - Bhima with a transaction up to Rs. 2000. There will be no charge for shopkeepers

New Delhi: Debit Card Consumers will now have to pay no fees for transactions up to Rs 2000 by debit card, Bhima app and other payment channels. This facility has been implemented from today.

The central cabinet last month agreed to propose to lift the burden of merchant discount rate (MDR) fees by the government on transactions of up to Rs 2,000 through debit card, Bhim UPi or other payment-based payment systems for promotion of digital transactions. This decision was taken at the Union Cabinet meeting chaired by Prime Minister Narendra Modi.

Financial Services Secretary Rajiv Kumar tweeted, "Happy Digital 2018. In the December quarter, transactions through Bhima Apache increased by 86%. During this, 14.56 crore transactions of Rs 13,174 crore were received through Bhima App. "He said," For further promotion of digital payment, the government will pay the fee of Rs. There will be no charge for shopkeepers. "Kumar said that adopt digital and bring transparency.

The government will take the burden of MDR for two years from January 1, 2018. The government will pay this to the banks. This will burden the government Rs 2512 crore.