Lucky Grahak Yojana and Digi-Dhan Vyapar Yojana

Lucky Grahak Yojana and Digi-Dhan Vyapar Yojana

Question: Recently Government of India has launched Lucky Grahak Yojana and Digi-Dhan Vyapar Yojana, The scheme will become operational with the first draw on-
(a) 12 December
(b) 13 December
(c) 14 December
(d) 25 December
Ans:(d)
Related facts:

  • On 15 December 2016; NITI Aayog announces the launch of the schemes Lucky Grahak Yojana and the Digi-Dhan Vyapar Yojana to give cash awards to consumers and merchants who utilize digital payment instruments for personal consumption expenditures.
  • The scheme specially focuses on bringing the poor, lower middle class and small businesses into the digital payment fold.
  • It has been decided that National Payment Corporation of India (NPCI) shall be the implementing agency for this scheme.
  • It would be useful to reiterate that NPCI is a not for profit company which is charged with a responsibility of guiding India towards being a cashless society.
  • The primary aim of these schemes is to incentivize digital transactions so that electronic payments are adopted by all sections of the society, especially the poor and the middle class.
  • The scheme will become operational with the first draw on 25th December, 2016 (as a Christmas gift to the nation) leading up to a Mega Draw on Babasaheb Ambedkar Jayanti on 14th April 2017.
  • It will comprise of two major components, one for the Consumers and the other for the Merchants:
  • (a) Lucky Grahak Yojana [Consumers]:
    1. Daily reward of Rs 1000 to be given to 15,000 lucky Consumers for a period of 100 days;
    2. Weekly prizes worth Rs 1 lakh, Rs 10,000 and Rs. 5000 for Consumers who use the alternate modes of digital Payments
  • This will include all forms of transactions viz. UPI, USSD, AEPS and RuPay Cards but will for the time being exclude transactions through Private Credit Cards and Digital Wallets.
  • (b) Digi-Dhan Vyapar Yojana[ Merchants]:
    1. Prizes for Merchants for all digital transactions conducted at Merchant establishments.
    2. Weekly prizes worth Rs. 50,000, Rs 5,000 and Rs. 2,500
  • (c) Mega Draw on 14th of April – Ambedkar Jayanti
    1. Three Mega Prizes for consumers worth Rs 1 cr, 50 lakh, 25 lakh for digital transactions between 8thNovember, 2016 to 13th April, 2017 to be announced on 14th April, 2017
    2. Three Mega Prizes for merchants worth Rs 50 lakhs, 25 lakh, 12 lakh for digital transactions between 8th November, 2016 to 13th April, 2017 to be announced on 14th
  • The estimated expenditure on the first phase of the scheme (up to 14th April 2017) is likely to be 340 Crores.
  • This is a historic moment in our nation’s history when our nation is shedding old habits and rapidly adopting new means which shall propel us into a truly modern age.

Reference:
http://pib.nic.in/newsite/PrintRelease.aspx?relid=155418