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Showing posts from December, 2017

Is the Digital Payment System a more burden on tax payers money?

Is the Digital Payment System a more burden on tax payers money? As per information available under RTI as published in public domains, the following is the cost of printing of Indian Currency:  Denomination (Rs.) Cost of Printing (Rs.) 5/- 0.48  10/- 0.96  20/- 1.50  50/- 1.81  100/- 1.79  500/- 3.09  2,000/- 3.54  Govt. of India currently in power is promoting use of digital payment discouraging cash payments. Besides other advantages, one of the advantage has been presented as saving on the cost of printing the currencies. Is it really a saving or there is some hidden agenda to ensure business for preferred payment gateways. However, the Govt. of India is not taking any step towards transaction fee being charged from the consumers towards making payment through digital modes. As an example if you are getting petrol from a petrol pump for Rs 200/-, the consum