Demonetisation: Jaitley announces steps to promote cashless transactions

Mangalore Today News Network

New Delhi, Dec 08, 2016 : Finance minister Arun Jaitley addressed a press conference on Thursday as his government’s demonetisation exercise completed a month. Prime Minister Narendra Modi’s shock announcement to scrap Rs 500 and Rs 1000 notes on November 8 has sparked a cash crunch, with millions queued outside banks and ATMs to change a limited number of old notes for new ones or withdraw cash. The government said the move was aimed at rooting out black money and corruption. But it met with the Opposition’s resistance.

 

Here are the live updates:

Petrol and diesel will be cheaper by 0.75% for people using digital wallets.

0.5% discount on sub-urban railway tickets for users of digital wallets. These discounts start January 1 with the Mumbai Suburban Railways.

NABARD will give Rupay cards to 4.32 crore farmers who have Kisan Credit Cards.

RBI has been releasing currency as per schedule. The aim of demonetisation has been to move towards digital transactions.

10% discount for those buying insurance policies from government-run companies online or digital payment of premiums.

10% discount on toll charges by using FASTags and RFID.

Courtesy: Hindustan Times