Penalty on cash payments soon

New Delhi: The Narendra Modi government is planning to give incentive to those doing cashless transactions and making digital payments, Niti Ayog sources told News24.  On the other hand government will disincentivise cash transactions by making them expensive. Some cess on cash payments is not being ruled out, sources added. This is part of strategy to promote cashless transactions.

The government is readying a roadmap for this. Already services charges on online transaction and debit/credit card transactions have been waived till December 31, this may be waved off completely soon. (News24Bureau)