{"id":21344,"date":"2022-01-22T00:14:22","date_gmt":"2022-01-21T18:44:22","guid":{"rendered":"https:\/\/carajput.com\/blog\/?p=21344"},"modified":"2025-04-25T23:26:57","modified_gmt":"2025-04-25T17:56:57","slug":"govt-approves-incentive-scheme-for-bhim-upi-rupay","status":"publish","type":"post","link":"https:\/\/carajput.com\/blog\/govt-approves-incentive-scheme-for-bhim-upi-rupay\/","title":{"rendered":"Govt approves incentive scheme for BHIM-UPI &#038; RuPay"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_58 counter-hierarchy ez-toc-counter ez-toc-light-blue ez-toc-container-direction\">\n<p class=\"ez-toc-title\">Page Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-69e18c52076c3\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #000000;color:#000000\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #000000;color:#000000\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-69e18c52076c3\"  aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/carajput.com\/blog\/govt-approves-incentive-scheme-for-bhim-upi-rupay\/#Govt_approves_incentive_scheme_for_BHIM-UPI_RuPay\" title=\"Govt approves incentive scheme for BHIM-UPI &amp; RuPay\">Govt approves incentive scheme for BHIM-UPI &amp; RuPay<\/a><ul class='ez-toc-list-level-3'><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/carajput.com\/blog\/govt-approves-incentive-scheme-for-bhim-upi-rupay\/#RuPay_and_BHIM-UPI_systems\" title=\"RuPay and BHIM-UPI systems\">RuPay and BHIM-UPI systems<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/carajput.com\/blog\/govt-approves-incentive-scheme-for-bhim-upi-rupay\/#New_Update_On_UPI_Payment\" title=\"New Update On UPI Payment:\u00a0\">New Update On UPI Payment:\u00a0<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/carajput.com\/blog\/govt-approves-incentive-scheme-for-bhim-upi-rupay\/#Union_Minister_Anurag_Thakur\" title=\"Union Minister Anurag Thakur : \">Union Minister Anurag Thakur : <\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/carajput.com\/blog\/govt-approves-incentive-scheme-for-bhim-upi-rupay\/#Government_is_not_considering_levying_Goods_and_Services_Tax_GST_on_UPI_transactions_over_2000\" title=\"Government is not considering levying Goods and Services Tax (GST) on UPI transactions over 2,000\">Government is not considering levying Goods and Services Tax (GST) on UPI transactions over 2,000<\/a><\/li><\/ul><\/li><\/ul><\/nav><\/div>\n<p><a href=\"https:\/\/carajput.com\/blog\/wp-content\/uploads\/2022\/01\/Govt-approves-incentive-scheme-for-BHIM-UPI-RuPay.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone wp-image-21345\" src=\"https:\/\/carajput.com\/blog\/wp-content\/uploads\/2022\/01\/Govt-approves-incentive-scheme-for-BHIM-UPI-RuPay.jpg\" alt=\"Govt-approves-incentive-scheme-for-BHIM-UPI RuPay\" width=\"874\" height=\"437\" \/><\/a><\/p>\n<h2><span class=\"ez-toc-section\" id=\"Govt_approves_incentive_scheme_for_BHIM-UPI_RuPay\"><\/span><span style=\"color: #ff0000;\"><strong>Govt approves incentive scheme for BHIM-UPI &amp; RuPay<\/strong><\/span><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<ul>\n<li>The Ministry of Electronics and Information Technology, Government of India, Notified an incentive scheme for the promotion of RuPay Debit cards and low-value BHIM-UPI transactions (P2M) on December 17, 2021. Following the approval by the Unio,<\/li>\n<li>Union Cabinet has approved a scheme to increase the use of RuPay debit cards and low-value BHIM-UPI transactions. During a cabinet meeting chaired by Prime Minister Narendra Modi initiative which would boost the use of RuPay debit cards and person-to-person UPI transactions up to INR 2,000\/- was approved.<\/li>\n<li>The govt will pay a portion of the value of transactions done via the RuPay and BHIM-UPI systems to acquiring banks as part of the scheme. According to estimates scheme is expected to cost around Rs 1,300 crore in the fiscal year 2021-2022,<\/li>\n<\/ul>\n<h3><span class=\"ez-toc-section\" id=\"RuPay_and_BHIM-UPI_systems\"><\/span><span style=\"color: #000080;\"><strong>RuPay and BHIM-UPI systems<\/strong><\/span><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>&#8220;Under the scheme, the government will help encourage the acquiring banks by paying a percentage of the value of transactions (P2M) done through RuPay Debit cards and low-value BHIM-UPI modes of payments, at an estimated financial outlay of Rs 1,300 crore for a one-year period beginning April 1, 2021,&#8221; according to an official statement.<\/p>\n<ul>\n<li>This initiative would help acquiring banks develop a strong digital payment ecosystem by promoting Rupay debit cards and BHIM-UPI digital transactions across all sectors and segments of the population, as well as strengthening digital payments in the country, <a href=\"https:\/\/www.caindelhiindia.com\/blog\/the-role-of-the-chartered-accountant-in-tax-planning\/\">according to the statement.<\/a><\/li>\n<li>The scheme was created in response to the government&#8217;s Budget declarations (FY2021-22) to provide digital transactions in the country a boost.<\/li>\n<li>A production linked incentive (PLI) programme for semiconductor and display board production was also approved by the cabinet.<\/li>\n<\/ul>\n<h3><span class=\"ez-toc-section\" id=\"New_Update_On_UPI_Payment\"><\/span><span style=\"color: #000080;\"><strong>New Update On UPI Payment:\u00a0<\/strong><\/span><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"alignnone size-full wp-image-27967\" src=\"https:\/\/carajput.com\/blog\/wp-content\/uploads\/2022\/01\/photo_2024-12-06_23-47-01.jpg\" alt=\"UPI Limit\" width=\"948\" height=\"553\" srcset=\"https:\/\/carajput.com\/blog\/wp-content\/uploads\/2022\/01\/photo_2024-12-06_23-47-01.jpg 948w, https:\/\/carajput.com\/blog\/wp-content\/uploads\/2022\/01\/photo_2024-12-06_23-47-01-300x175.jpg 300w, https:\/\/carajput.com\/blog\/wp-content\/uploads\/2022\/01\/photo_2024-12-06_23-47-01-768x448.jpg 768w, https:\/\/carajput.com\/blog\/wp-content\/uploads\/2022\/01\/photo_2024-12-06_23-47-01-800x467.jpg 800w\" sizes=\"(max-width: 948px) 100vw, 948px\" \/><\/p>\n<ul>\n<li>The Reserve Bank of India\u00a0governor said that the central bank has proposed to enhance the limit of Unified Payments Interface (UPI) transactions in educational institutions &amp; hospitals to INR 5,00,000\/- from INR 1,00,000\/-.<\/li>\n<li>Reserve Bank of India\u00a0governor also said that the Reserve Bank of India has proposed to enhance limits of e-mandates for recurring online transactions to INR 1,00,000\/- per transaction from INR 15,000\/- per transaction for insurance premium subscriptions, mutual fund subscriptions, \u00a0&amp; credit card online repayments.<\/li>\n<li>This <strong style=\"color: #000080;\">New Update On UPI Payment <\/strong>will help the consumers to make Unified Payments Interface (UPI) payments of higher amounts for health care &amp; education purposes.<\/li>\n<\/ul>\n<h3><span class=\"ez-toc-section\" id=\"Union_Minister_Anurag_Thakur\"><\/span><span style=\"color: #000080;\"><strong>Union Minister Anurag Thakur :<\/strong> <\/span><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<ul>\n<li>A scheme has been approved to provide incentives to encourage digital transactions through RuPay Debit Card and BHIM UPI of small amounts. It will incur an expense of around Rs 1,300 Crores:<\/li>\n<\/ul>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"\" src=\"https:\/\/pbs.twimg.com\/media\/FGo8TyoVkAA-w3r?format=jpg&amp;name=small\" alt=\"Image\" width=\"849\" height=\"478\" \/><\/p>\n<ul>\n<li>According to Union Minister Anurag Thakur, the initiative will invest 76,000 crore in semiconductor production over the next five to six years.<\/li>\n<li><strong>A<\/strong>ccording to Telecom and IT Minister Ashwini Vaishnaw decision will aid in the design, production, packing, and testing of microchips as well as the development of a full ecosystem.<strong><br \/>\n<\/strong><\/li>\n<\/ul>\n<h3><span class=\"ez-toc-section\" id=\"Government_is_not_considering_levying_Goods_and_Services_Tax_GST_on_UPI_transactions_over_2000\"><\/span><span style=\"color: #000080;\"><strong>Government is not considering levying Goods and Services Tax (GST) on UPI transactions over 2,000<\/strong><\/span><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"alignnone  wp-image-29212\" src=\"https:\/\/carajput.com\/blog\/wp-content\/uploads\/2022\/01\/Government-is-not-considering-levying-Goods-and-Services-Tax-GST-on-UPI-transactions-over-2000.-.jpg\" alt=\"Government is not considering levying Goods and Services Tax (GST) on UPI transactions over 2,000.\" width=\"937\" height=\"1037\" srcset=\"https:\/\/carajput.com\/blog\/wp-content\/uploads\/2022\/01\/Government-is-not-considering-levying-Goods-and-Services-Tax-GST-on-UPI-transactions-over-2000.-.jpg 705w, https:\/\/carajput.com\/blog\/wp-content\/uploads\/2022\/01\/Government-is-not-considering-levying-Goods-and-Services-Tax-GST-on-UPI-transactions-over-2000.--271x300.jpg 271w\" sizes=\"(max-width: 937px) 100vw, 937px\" \/><\/p>\n<p><strong style=\"color: #000080;\">Popular Articles :<\/strong><\/p>\n<blockquote class=\"wp-embedded-content\" data-secret=\"eY9G0ldfzL\"><p><a href=\"https:\/\/www.caindelhiindia.com\/blog\/re-availment-of-input-tax-credit-reversed\/\">Re-Availment Of Input Tax Credit Reversed<\/a><\/p><\/blockquote>\n<p><iframe class=\"wp-embedded-content\" sandbox=\"allow-scripts\" security=\"restricted\" style=\"position: absolute; clip: rect(1px, 1px, 1px, 1px);\" title=\"&#8220;Re-Availment Of Input Tax Credit Reversed&#8221; &#8212; India Financial Consultancy\" src=\"https:\/\/www.caindelhiindia.com\/blog\/re-availment-of-input-tax-credit-reversed\/embed\/#?secret=WTUKt0pk5s#?secret=eY9G0ldfzL\" data-secret=\"eY9G0ldfzL\" width=\"600\" height=\"338\" frameborder=\"0\" marginwidth=\"0\" marginheight=\"0\" scrolling=\"no\"><\/iframe><\/p>\n<ul>\n<li><strong><span style=\"color: #000080;\"><a style=\"color: #000080;\" href=\"https:\/\/carajput.com\/blog\/tds-and-gst-on-google-or-facebook-ad-words-advertisements\/\">TDS &amp; GST on Google or FB Ad words advertisements<\/a><\/span><\/strong><\/li>\n<li><strong><span style=\"color: #000080;\"><a style=\"color: #000080;\" href=\"https:\/\/carajput.com\/blog\/what-is-the-process-of-applying-instant-free-pan-through-aadhaar-e-kyc-fm-launches\/\">What is the process of applying instant free pan through aadhaar e-kyc<\/a><\/span><\/strong><\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>Govt approves incentive scheme for BHIM-UPI &amp; RuPay The Ministry of Electronics and Information Technology, Government of India, Notified an incentive scheme for the promotion of RuPay Debit cards and low-value BHIM-UPI transactions (P2M) on December 17, 2021. Following the approval by the Unio, Union Cabinet has approved a scheme to increase the use of &hellip;<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[1346],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/carajput.com\/blog\/wp-json\/wp\/v2\/posts\/21344"}],"collection":[{"href":"https:\/\/carajput.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/carajput.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/carajput.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/carajput.com\/blog\/wp-json\/wp\/v2\/comments?post=21344"}],"version-history":[{"count":5,"href":"https:\/\/carajput.com\/blog\/wp-json\/wp\/v2\/posts\/21344\/revisions"}],"predecessor-version":[{"id":21348,"href":"https:\/\/carajput.com\/blog\/wp-json\/wp\/v2\/posts\/21344\/revisions\/21348"}],"wp:attachment":[{"href":"https:\/\/carajput.com\/blog\/wp-json\/wp\/v2\/media?parent=21344"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/carajput.com\/blog\/wp-json\/wp\/v2\/categories?post=21344"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/carajput.com\/blog\/wp-json\/wp\/v2\/tags?post=21344"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}