To facilitate a robust digital payment ecosystem across the country, the Union Cabinet approved an incentive scheme worth Rs 2,600 to promote RuPay debit cards and low-value BHIM-UPI transactions (person-to-merchant) for a year starting April 2022.

• In a statement on January 11, 2023, the cabinet notified that under the scheme, “acquiring banks will be provided financial incentive, for promoting Point-of-Sale (PoS) and e-commerce transactions using RuPay Debit Cards and low-value BHIM-UPI transactions (P2M) for the financial year FY2022-23.”
• Union Finance Minister Nirmala Sitharaman announced the government’s intent to continue supporting digital payments to promote payment platforms that are economical and user-friendly.