CURRENT AFFAIRS

Detailed explanation-1: -To facilitate a robust digital payment ecosystem across the country, the Union Cabinet on Wednesday approved an incentive scheme worth Rs 2, 600 to promote RuPay debit cards and low-value BHIM-UPI transactions (person-to-merchant) for a year starting April 2022.

Detailed explanation-2: -Ministry of Electronics & Information Technology (MeitY), Digital Economy & Digital Payment Division has been entrusted with the responsibility of leading this initiative on “Promotion of Digital Transactions including Digital Payments”.

Detailed explanation-3: -NITI Aayog announces the launch of the schemes Lucky Grahak Yojana and the Digi- Vyapar Yojana to give cash awards to consumers and merchants who utilize digital payment instruments for personal consumption expenditures.

Detailed explanation-4: -The Lucky Grahak Yojana and the Digi-Dhan Vyapar Yojana offered cash awards to consumers and merchants who utilized digital payment instruments for personal consumption expenditures. The scheme specially focused on bringing the poor, lower middle class and small businesses into the digital payment fold.