Schemes to accelerate digital payments

Finance minister Nirmala Sitharaman on Monday announced two specific schemes directed at central government employees that are likely to spur consumption during India’s key festive season. The two schemes also largely hinge on accelerating usage of digital payments among those availing these benefits, the government said on Monday.

The Special Festival Advance Scheme that promises to offer interest-free advance of ₹10,000 for every central government employees will be available in the form of a pre-loaded RuPay card of the advance value. The government will bear the bank charges.

The move ensures digital mode of payment, resulting in tax revenue and encouraging honest businesses, the government said.