The government of India to encourage the use of digital currency!

The government of India to encourage the use of digital currency!

According to reports, India is stuck in our own cash crisis. Come up with $50 million to encourage people to use digital currency position again caused the attention of India government plans in this context.

2 million Indians will benefit from a new temporary lottery, and in the condition that the government’s own ID and electronic payment system are connected.

The use of the system will receive a number, and the number will be input to the lottery system, every day will extract 15 thousand lucky winners, each of them will receive 1000 rupees ($15). Weekly also extracts more than 7000 lucky winners, they will receive 5000 to 100 thousand rupees.

The use of the electronic payment system of the retailers will also have the opportunity to get rewards, each week will select 7000 retailers, they will get 2500 rupees to 50 thousand rupees reward.

The lottery is the government in India to give a Christmas gift of the people, will begin from December 25th, to April 14, 2017.

On the last day, the India government will also selected 6 Awards, bonuses from $17 thousand to $1 million 500 thousand first prize.

India’s prime minister Modi in November 8th suddenly abolished India the largest denomination of two currencies, try to solve the problem of corruption and tax evasion.

But the abolition of the existing 500 rupees and 1000 rupees, and replace it with the new RS 500 and RS 2000 initiatives, India has made 86% (according to the amount of money) suddenly become worthless, and caused economic chaos.

Play an important role in the economic operation of cash in India, the new bill put work is not smooth, so the people of India in the daily procurement is facing a lot of trouble. Cars and diamonds using large amounts of paper money transaction size fell sharply.

Responsible for the management of the India government think-tank AmitabhKant said: “at present, the use of digital currency in India only 5% of personal consumption expenditures. Our goal is to get the rapid popularization of digital payments in India.”

Since India announced the abolition of large amounts of money, no cash payment wallet and mobile phone companies have obtained vigorous development, the India government is trying to encourage people to use their electronic payment systems.

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