India, March 24 -- The Government of India issued the following news release:
The Union Cabinet, chaired by Prime Minister Shri Narendra Modi, has approved the 'Incentive Scheme for Promotion of Low-Value BHIM-UPI Transactions (Person to Merchant - P2M)' for the financial year 2024-25. This step supports the Government's goal of boosting digital payments, encouraging small merchants to adopt UPI, and promoting financial inclusion.
Strengthening India's Digital Payment Ecosystem
Promotion of digital payments is an integral part of the Government's strategy for financial inclusion and providing wide-ranging payment options to the common man.
The expenditure incurred by the digital payment industry for providing services to customers/merch...