Friday, December 09, 2016

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Go digital, get discounts: FM

09 Dec 2016 | 1:58 AM

NEW DELHI:With cash crunch persisting even a month after the November 8 demonetisation decision, the government today announced a slew of measures to incentivise cashless payments.

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Sanjeev Sharma

Tribune News Service

New Delhi, December 8

With cash crunch persisting even a month after the November 8 demonetisation decision, the government today announced a slew of measures to incentivise cashless payments. 

 The 11 measures listed include discounts on purchase of fuel, insurance policies and free railway accidental insurance cover for payments made using digital mode, including debit and credit cards, mobile phone applications and e-wallets.

Announcing the package, Finance Minister Arun Jaitley said following the cancellation of the legal tender character of old Rs 500 and Rs 1,000 notes, there had been a surge in digital transactions and the measures announced today would further accelerate the process.

“We were using excessive amount of cash and very limited amount of digital transactions till November 8,” Jaitley said, adding the cost of transacting in cash had to be borne by the economy.

Jaitley said public sector oil marketing companies would offer a discount at the rate of 0.75 per cent of the sale price on purchase of petrol and diesel if payment was made through digital means. The incentive scheme had the potential to shift at least 30 per cent more customers to digital means, which would further reduce the cash requirement of Rs 2 lakh crore per year at petrol stations, he said.

Nearly 4.5 crore customers buy petrol and diesel at fuel stations every day, resulting in estimated daily sale of Rs 1,800 crore. Nearly 20 per cent of the payments are made through digital means.

After demonetisation, digital payments have jumped to 40 per cent and cash transactions of Rs 360 crore per day have got shifted to cashless transaction methods.

For insurance policies, a discount of 10 per cent and 8 per cent, respectively, will be offered in case of general and life insurance for buying new policies or paying premium online through the customer portals of PSU insurance companies.

All railway passengers buying online ticket will get free accidental insurance cover of up to Rs 10 lakh. In addition, passengers using digital mode to pay for railway catering, accommodation, retiring room will get 5 per cent discount.

Nearly 14 lakh railway passengers buy tickets every day, out of which 58 per cent are bought online. It is expected another 20 per cent passengers may shift to digital payment methods of buying railway tickets. Nearly 11 lakh passengers per day will be covered under the accidental insurance scheme. 

For payment at toll plazas on national highways using RFID card/Fast Tags, a discount of 10 per cent will be available to users in 2016-17.

To expand digital payment infrastructure in the rural areas, the Centre through NABARD will extend financial support to eligible banks for deployment of 2 point of sales (POS) devices each in 1 lakh villages with population of less than 10,000.

Jaitley said it would benefit farmers of one lakh villages covering nearly 75 crore people. The government will also support rural regional banks and cooperative banks to issue “Rupay Kisan Cards”.

Meanwhile, another queue death

Meanwhile, another queue death

09 Dec 2016 | 1:58 AM

LUDHIANA:A 48-year-old woman died after she was allegedly pushed by a guard outside a Punjab National Bank branch on the Shingar Cinema road today.

Triple talaq illegal, rules Allahabad HC

09 Dec 2016 | 1:58 AM

LUCKNOW/ALLAHABAD:In a significant judgment, the Allahabad High Court has called the practice of divorcing a Muslim woman by ‘triple talaq’ in a single sitting as “cruel, unconstitutional and amounting to violation of victim’s rights”.

SAD vows to guard riverwatersMOGA RALLY

SAD vows to guard riverwaters

09 Dec 2016 | 1:58 AM

KILI CHAHLAN (MOGA):The Shiromani Akali Dal (SAD) leadership today vowed to save Punjab’s natural resources from being “plundered”, even if it meant “sacrificing” their lives.

Navjot, Pargat, Boleria to get Cong ticket

09 Dec 2016 | 1:58 AM

NEW DELHI:The central election committee of the Congress, which met here today to discuss candidates for the upcoming Punjab elections, is learnt to have cleared all single-applicant seats as also a majority of the seats with sitting Congress lawmakers in Punjab.

Panel wants Mann out for rest of session

09 Dec 2016 | 1:58 AM

NEW DELHI:The parliamentary panel probing the alleged security breach by AAP’s Sangrur MP Bhagwant Mann today recommended his suspension for the remaining period of the current Lok Sabha session.

‘Judges’ postings function of executive’ Par panel

09 Dec 2016 | 1:58 AM

NEW DELHI:Amid tussle between the government and the Supreme Court over judicial appointments, a parliamentary committee today said appointment of judges to the higher judiciary is essentially the function of executive.

Another session lost?

A timely rebuke from a marg darshak

Questionable actions

PM, people must have similar benchmarks

A real number cruncher

A razaiwalla & Mr Mahesh ShahSTATECRAFT

A razaiwalla & Mr Mahesh Shah

Harish Khare

Invocation of janshakti against rajya shakti dangerous

Why burn schools in Kashmir?

Vinod Adhikari

The act of separatists burning schools in Kashmir raises a point: Is it not unfair to allow the disruption of education and stake the future of the youth of the Valley? The only way forward is exemplary governance that will ensure education, safety and employability to the future generation which is the real resource of any nation.

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Govt scraps import duty on wheat

Govt scraps import duty on wheat

09 Dec 2016 | 1:28 AM

NEW DELHI: India today scrapped altogether the 10 per cent import duty on wheat, a move that has raised doubts about the Agriculture Ministry’s production estimates and evoked sharp reactions from farm bodies and Opposition parties.


30 days of suffering, and counting

30 days of suffering, and counting

09 Dec 2016 | 2:18 AM

CHANDIGARH: It was this day last month that Prime Minister Narendra Modi dropped the bombshell of demonetising currency notes of Rs 500 and Rs 1,000 denomination.

NoDeputy CM Sukhbir Badal helps his father and CM Parkash Singh Badal take seat at the rally in Moga on Thursday. Tribune photo: Pawan Sharma

Polls ahead, SAD, BJP leaders sing in one voice

09 Dec 2016 | 1:09 AM

MOGA:Eying the Assembly elections, SAD and BJP leaders spoke in one voice over the riverwaters issue at the mega rally here today.

CM’s ‘towering’ presence at rally

09 Dec 2016 | 1:09 AM

MOGA:SAD’s publicity managers had put up life-size cardboard cut-outs of Chief Minister Parkash Singh Badal not only at the rally venue, but also on highways and roads leading to Moga.

‘Badal bachao’ cry by Akali Dal: Capt

09 Dec 2016 | 1:09 AM

CHANDIGARH: Punjab Congress chief Capt Amarinder Singh today dismissed the SAD’s “Paani Bachao, Punjab Bachao” rally in Moga as a desperate “Badal bachao” cry from a party that had lost “all credibility in the state due to its 10 years of misrule”.

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Chaos, queues persist outside banks, ATMs

Chaos, queues persist outside banks, ATMs

09 Dec 2016 | 12:33 AM

CHANDIGARH: Cash-starved public, endless queues, dry ATMs and rationed bank withdrawals—that’s Haryana’s painful saga of one month of demonetisation of Rs 500 and Rs 1000 notes.

Electric buses worry cab owners

Electric buses worry cab owners

09 Dec 2016 | 1:02 AM

KULLU: The successful electric bus trial on the Manali-Rohtang route this year has left taxi operators worried for their livelihood.

Nursing crunch at Valley hospitals hits healthcare

09 Dec 2016 | 12:46 AM

SRINAGAR: Kashmir hospitals are facing acute shortage of nurses as tertiary and secondary care hospitals have just a single nurse for at least 30 patients, which is adversely affecting the healthcare and increasing the mortality rate.

CM promises moon to all unemployed by 2022

CM promises moon to all unemployed by 2022

09 Dec 2016 | 12:37 AM

HARIDWAR: The state government is committed to providing employment to up to 2022. Chief Minister Harish Rawat said this after inaugurating a Ganga ghat after Sant Ravi Das and renaming the Jwalapur Kumbh Setu as Bhagwan Vishwarkarma bridge here last evening.

S Korea House set to impeach Prez

S Korea House set to impeach Prez

09 Dec 2016 | 1:28 AM

SEOUL:South Korea’s Parliament introduced a Bill on Thursday to impeach President Park Geun-hye, setting the stage for a historic vote to oust the embattled leader engulfed in an influence-peddling scandal.

Andhra CM panel meets top bankers

Andhra CM panel meets top bankers

09 Dec 2016 | 12:36 AM

NEW DELHI: The first meeting of the sub-committee on demonetisation and its related issues headed by Andhra Pradesh Chief Minister Chandrababu Naidu met in Mumbai today, where the members of the panel interacted with senior RBI officials and top bankers of the country with an aim to address the issues concerning the supply side of digital transactions.

NoKeaton Jennings celebrates after scoring a ton on his debut in Mumbai on Thursday. afp

Keaton sets up England

09 Dec 2016 | 2:20 AM

MUMBAI:England must be really thankful to Karun Nair, for he dropped debutant opener Keaton Jennings for 0 early in the first day of the fourth Test.


Bhuvi’s throw takes down umpire Reiffel

09 Dec 2016 | 2:21 AM

MUMBAI:In a freak incident, umpire Paul Reiffel was accidentally hit on the back of his head by a throw from Bhuvneshwar Kumar today.

Punjab gain upper hand

09 Dec 2016 | 2:16 AM

RAJKOT:Mumbai were in trouble at 8/2 after Punjab rode on Mayank Sidhana’s century and skipper Gurkeerat Mann's 93 to notch up 468 in the Ranji Trophy match here today.

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