Food Processing

Finance Minister Launches eBक्रय for Online Auction of Banks' Assets

FM Mrs. Sithraman also started bank outreach to MSMEs and transmission of rate cuts continues. In order to strengthen the digital payment eco-system and move towards less-cash economy, Hon’ble FM in her budget speech of 2019-20 had, inter alia, announced that business establishments with annual turnover of more than Rs. 50 crore shall offer low cost digital modes of payment ( such as BHIM UPI, UPI QR Code, Aadhaar Pay, Debit Cards, NEFT, RTGS etc.) to their customers, and no charge or Merchant discount rates (MDR) shall be imposed on customers as well as merchants. To facilitate implementation of this announcement, it was decided as under: