Question: The 11-member committee formed with the aim to discourage cash transactions asked to suggest steps to promote card payments through incentives like tax rebates and cash back schemes is headed by-
(a) Dr. Urjit Patel
(b) Ratan P Watal
(c) Kaushik Basu
(d) Arvind Subramanian
Ans: (b)
Related facts:
- On 26 August 2016 with an aim to discourage cash transactions, the Finance Ministry has set up a high-level committee to suggest steps to promote card payments through incentives like tax rebates and cash back schemes.
- The 11-member committee, headed by former Finance Secretary Ratan P Watal, will recommend various measures to “incentivise transactions through cards and digital means.
- Other committee members include former RBI Deputy Governor H R Khan, Chairman of Indian Banks Association, President of Nasscom and CBDT Chairperson.
- The panel will submit its report in one year.
Reference:
http://www.thehindu.com/todays-paper/tp-business/centre-sets-up-panel-to-suggest-steps-to-promote-card-payments/article9038122.ece
http://indiatoday.intoday.in/story/finmin-sets-up-panel-to-suggest-steps-to-promote-card-payments/1/749549.html
http://www.business-standard.com/article/economy-policy/finance-ministry-sets-up-panel-to-suggest-steps-to-promote-card-payments-116082600882_1.html