Govt extends BHIM cash back scheme for merchants till 31 March

The BHIM cash back scheme for merchants will be operational till 31 March 2018, says a note by ministry of electronics and information technology

PTI August 21, 2017 11:14:36 IST
Govt extends BHIM cash back scheme for merchants till 31 March

New Delhi: The government has extended till March a cash back scheme that offers incentives of up to Rs1,000 to merchants for accepting payments through the Bharat Interface for Money (BHIM) application.

Govt extends BHIM cash back scheme for merchants till 31 March

Image: NPCI

“The BHIM cash back scheme for merchants will be operational till 31 March 2018,” a note by ministry of electronics and information technology (IT) said.

The scheme was launched by Prime Minister Narendra Modi on 14 April for a period of six months for promoting cashless payments through the BHIM app. Under the scheme, a merchant can get cash back of Rs50 for 20-50 transaction, Rs2 for every transaction thereafter till Rs950.

The monthly limit of BHIM cash back scheme is Rs1,000. The condition for availing benefit is that at least 20 transactions should have been accepted by the merchant during the month from unique users of the BHIM with each amounting to minimum of Rs25.

The app user can make transaction by using UPI address, ISFC code and bank account of the recipient and by scanning QR code that can be generated in the app itself. Unlike mobile wallet, users are not required to store money in the BHIM app.

Updated Date:

also read

Opposition disrupts Day 1 of Parliament's Monsoon Session as PM introduces newly inducted ministers
Politics

Opposition disrupts Day 1 of Parliament's Monsoon Session as PM introduces newly inducted ministers

The disruption by Opposition members drew sharp criticism from Prime Minister Modi who accused them of being unable to digest the fact that a large number of new ministers are women, Dalits, tribals and those from other backward classes

'Had you understood country's Mann ki Baat': Rahul Gandhi slams Centre on pace of COVID-19 vaccinations
India

'Had you understood country's Mann ki Baat': Rahul Gandhi slams Centre on pace of COVID-19 vaccinations

The former Congress president also shared a video on Twitter highlighting the alleged slow vaccination rate and media reports where people were not getting vaccines

PM's Mann ki Baat: Must move forward with 'nation first, always first' mantra, says Narendra Modi
India

PM's Mann ki Baat: Must move forward with 'nation first, always first' mantra, says Narendra Modi

Modi noted that on the coming 15 August, India will enter its 75th year of Independence and highlighted that Amrit Mahotsav is being celebrated throughout the country to mark that year