On 8th Dec 2016, Government through our Finance Minister announced 11 new measures to promote digitalisation of payments. Some of these incentives not only provide some extra cash, but some measures cover a part of your risk (insurance). Why not embrace some extra gains!!! But for this, you need to learn a bit of technology and change the way you make or receive payments.
But, a word of caution: You know there is some skepticism by media that demonetization drive has not succeeded and black money has just changed place – from pillow to bank, hence it seems that government just want to maintain the optimism and have announced the measures with no roadmap of implementing them. So final guidelines of these incentives or the date of implementation and how they will be done are yet to be announced.
So, this gives us time to know and evaluate these benefits. So here we go:
1. The Central Government Petroleum PSUs shall give incentive by offering a discount at the rate of 0.75% of the sale price to consumers on the purchase of petrol/diesel if payment is made through digital means. 
2. To expand digital payment infrastructure in rural areas, the Central Government through NABARD will extend financial support to eligible banks for deployment of 2 POS devices each in 1 Lakh villages with a population of less than 10,000. These POS machines are intended to be deployed at primary cooperative societies/milk societies/agricultural input dealers to facilitate agri-related transactions through digital means.
3. The Central Government through NABARD will also support Rural Regional Banks and Cooperative Banks to issue “Rupay Kisan Cards” to 4.32 crore Kisan Credit Card holders to enable them to make digital transactions at POS machines/Micro ATMs/ATMs.
(The above points 2-3 will cover 75 Crore of 130 Cr, so a huge shift can be expected here) 
4. The railway through its suburban railway network shall provide incentive by way of discount up to 0.5% to customers for monthly or seasonal tickets from January 1, 2017, if payment is made through digital means. 
5. All railway passengers buying online ticket shall be given free accidental insurance cover of up to Rs. 10 lakh. 
6. For paid services e.g. catering, accommodation, retiring rooms etc. being offered by railways through its affiliated entities/corporations to the passengers, it will provide a discount of 5% for payment of these services through digital means. All the passengers traveling on railways availing these services may avail the benefit.
7. Public sector insurance companies will provide incentive, by way of discount or credit, up to 10% of the premium in general insurance policies and 8% in new life policies of Life Insurance Corporation sold through the customer portals, in case payment is made through digital means.
8. The Central Government Departments and Central Public Sector Undertakings will ensure that transactions fee/MDR charges associated with payment through digital means shall not be passed on to the consumers and all such expenses shall be borne by them. (so if you pay electricity bill or any pay for any other services online or a POS, no service fees).
9. Public sector banks are advised that merchant should not be required to pay more than Rs. 100 per month as monthly rental for PoS terminals/Micro ATMs/mobile POS from the merchants to bring small merchant on board the digital payment ecosystem. (Some vendors like electronic goods sellers, ask additional 1-2% if you pay by card. This will stop as the rent of the swipe machine will go down)
10. No service tax will be charged on digital transaction charges/MDR for transactions up to Rs.2000 per transaction.
11. For the payment of toll at Toll Plazas on National Highways using RFID card/Fast Tags, a discount of 10% will be available to users in the year 2016-17.
Out of these only, the first one i.e. 0.75% discount on gas stations started on 13 December 2016, but yet to reach ground levels.
Share how you saved an extra bit through these measures and how demonetization helped you to keep your wallet thin. Did it help in your monthly budget? Share in the comments section.
Share the article if you want to help someone like you and me.
