The aftermath of Demonetization by Prime Minister Narendra Modi meant that a lot of people had to go cashless, literally and metaphorically, and were seething about it too. So to soothe things out, the government introduced that ‘Lucky Grahak Yojana’ for consumers and ‘Digi Dhan Vyapar Yojana’ for merchants on December 25, 2016 to promote digital transactions. These schemes were implemented by the National Payment Corporation of India (NPCI.) The schemes promised a sum of 1 crore rupees to consumers who regularly took the digital transaction path.

Digital Transactions

The lucky winners were picked out by President Pranab Mukherjee at Rasjtrapathi Bhavan in New Delhi. In the consumer section, the first mega prize of Rs. 1 crore went to a customer of Central Bank of India who did a transaction of Rs. 1,590, while the second prize of Rs. 50 lakhs went to a Bank of Baroda customer. A customer of Punjab National Bank is the winner of third prize of Rs 25 lakh. Three merchants also won prizes of Rs. 50 lakhs, Rs. 25 lakhs and Rs. 12 lakhs, respectively. The names of the winners haven’t been announced, just the transaction numbers pertaining to the winner. The winners will be felicitated by Narendra Modi on April 14 at Nagpur on the occasion of Ambedkar Jayanti.

Speaking at the event, Mr. Mukherjee said, “India has a long way to go to become a cashless society. The initiatives of the government are a good beginning and we need to sustain and nurture these with active participation from all segments of the society. It is necessary to reduce cash in circulation and impart greater urgency to promoting secure digital payment methods to ensure greater transparency.

Great to see the government trying to make the country go cashless using such schemes and the public reacting to it positively.