MeiTY Notifies Incentive Scheme for Promotion of RuPay Debit Cards and Low-Value BHIM-UPI transactions (P2M)

On 14th January 2023, the Ministry of Electronics and Information Technology (MeiTY) issued a notification in regard to the Incentive Scheme for the Promotion of RuPay Debit Cards and Low-Value BHIM-UPI transactions (P2M).

The Government is taking various initiatives to promote digital payments. Over the past few years, digital payment transactions have witnessed tremendous growth across the country, with the number of transactions growing from 2,071 crores in FY2017-18 to 8,840 crores in FY2021-22.