Post Demonetisation: Cabinet okays plan to promote cashless economy

The Government is fastening digital transaction drive post demonetization. In a meeting on Monday, the Cabinet charted a road map towards cashless payments. At the center of the government plan is the NPCI promoted Unified Payments Interface (UPI).

Banking and digital wallet apps like that of the Paytm and creating government installed touch points at schools and post offices are other components of the renewed cashless transaction drive.

Collaborating with state governments comes top of the action plan. Already several state governments have adopted cashless transactions in the context of cash constraints.

The meeting for designing cashless drive was chaired by Minister for Law, Electronics and IT Sri Ravi Shankar Prasad. NITI Ayog’s CEO Amitabh Kant was also present. The NITI Ayog will chalk out a mission to implement cashless economy drives and Mr Amitabh Kant is on charge of it.

NITI Ayog’s mission is to suggest easy digital payment options and spreading it across the country using government and semi/government networks. The NITI Ayog Committee headed by Amitabh Kant along and officials from the NPCI are conducting frequent meetings to design a final strategy.