Calling it a practical approach and
while supporting the clarion call of Prime Minister Narendra Modi for adoption
of digital payments in the Country, The Confederation of All India Traders
(CAIT) has appreciated the use of less cash by Prime Minister Mr. Narendra Modi
in his Man Ki Baat today since less cash in first instance will ultimately
convert in cash less over a period of time.
CAIT President Mr. B.C.Bhartia &
Secretary General Mr. Praveen Khandelwal said that if urban areas are prompted
to adopt and use digital payments for their day to day transactions, the
surplus money available in lieu of using digital payments can be transferred to
rural and far flung areas where awareness & usability of digital payment is
very less. In this way, people across the Country will be able to meet out
their daily expenses.
CAIT has urged the Union Government to ensure speedy adoption of electronic payments,
the Government should provide incentives
on every usage of digital payment and transaction cost levied by the Banks on
usage of Card payments may be subsidised by the Government to Banks. It has
also suggested that import duty on POS terminals should be waived off to make
the cost of POS terminals cheaper whereas facilitation should be done to
manufacture POS machines in India under Make in India program.
The CAIT has planned to hold a India
Economic Summit on 2nd and 3rd December, 2016 at New Delhi to consider
situation of post demonetisation and adoption of digital payments, GST, financial
inclusion.
Meanwhile, to make people aware about
digital payments technology, the CAIT has created an exclusive website
www.lesscash.in which was released yesterday by Mr. Amitabh Kant, CEO, NITI
Aayog at a Traders Conference at New Delhi by CAIT. The CAIT has also issued
its less cash manifesto yesterday spelling out steps for smooth adoption of
electronic payments particularly by traders and people in general.
It is noted that CAIT in association
with MasterCard has been advocating digital payments since last about two years
and has so far organized over 150 seminars, conferences, round-tables and
workshops in over 30 cities across different states and reached over 20 lakh
traders to promote the adoption of electronic payments. The module 'Master Your
Card' training has proved to be effective and is now coming handy when the
government accelerates its intensity to penetrate every part of India via
digital means.
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