Aadhar Pay, a merchant version of Aadhaar-enabled payment system +no transaction above Rs 3 lakh will be permitted in cash +promote cashless transactions +Political parties will be entitled to receive donations by cheque or in the digital mode from their donors +, will be launched shortly for those without debit cards, mobile phones or e-wallets.On the recommendation of a Special Investigation Team on Black Money, finance minister Arun Jaitley announced thatThe government will launch two new schemes to promote the use of BHIM. These are referral bonus schemes for individuals and cashless schemes for merchants.A mission will be set up with a target of over 2,500 crore digital transactions for 2017-18 through UPI USSD , Aadhaar Pay, IMPS and debit cards.To, the government decided to remove all duties on point of sale devices, finger print readers and similar devices.Banks have targeted to introduce additional 10 lakh Point-of-Sale terminals by March 2017.

Source: Times of India February 01, 2017 08:36 UTC