Following demonetization, the government has been trying to encourage people to embrace cashless transactions. However, since it is still not a popular practice in India, the NITI Aayog or National Institution for Transforming India, has devised a way to provide the right incentives to the people in order to encourage digital transactions.
For this, the NITI Aayog has announced that it will be introducing a lottery system where digital payment makers are eligible to earn prizes on a daily and weekly basis. The rewards being offered are quite substantial and the offer is open not only to consumers but also merchants.
One of the schemes which the NITI Aayog has announced these rewards under is the Digi Dhan Vyapar Yojana (DDV) which is specially meant for merchants.
The total number of 3 prizes will be given out under this scheme. The method by which the draw will be performed is random selection using transaction IDs. The prize money amounts under the first, second and third prize are Rs. 50 lakhs, Rs. 25 lakhs and Rs. 5 lakhs respectively.
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