Digital transactions & charges attached to it.
After financial demonetization and monitory corrections, the Govt.of India drive/compel people to make their day to day monitory transactions by way of Plastic cards and computer/Laptop system.or Mobile Apps. Due to various restrictions, the common man has to transact their dealing with the No-cash manner which makes him to loose heavily by way of charges levied by Banks and also Net providing companies. The Banks compulsorily charges while issuing Debit/ATM cards to persons opening SB/C.A accounts, then annually they collect debit/ATM card renewal, for issuing cheque books after certain number of leave, charges for NEFT/REGS transactions, and other charges which are done compulsorily due to Govt.of India rules Moreover, when every transaction is done by way of Debit/credit cards through POS Machines, the dealer charges 2% of sale amount from the customers (actually the bank charges dealers but they do not want to bear this cost & throws the burden on customers). Why should customers pay for no fault of theirs? The Govt.of India must all such such charges immediately and there cannot be much revenue loss to RBI or Govt. Tf this is done by Min.of Finance, then cashless transactions will improve heap and jump. The Govt. need not spend much on the advertisements in this regard. more
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It is very to say that many people feel that why GOI have not taken any action to abolish service charges levied during the debit card transaction at very many places. All charges from the issue of debit cards to the purchase of products in POS should be abolished and this loss of revenue could be made good by GOI by other means. This effort is a good investment in the advertisement of cashless transactions in the country. more
Feb 26
Yes, this charging extra sometime in the name of a tax or a bank charge is not legal as this is a double charge on the consumers - one when the money is withdrawn from the ATM and then when the transaction is done with the retailer through POS. Airtel agents/franchises have throughout the country refused to refused to accept through swiping of the Cr/Dr cards unless they are paid the additional amount of Rs.5/- or so per transaction. Besides, it is also not known how the Sales Tax Department/I-Tax take this receipt by the retailers into their kitty. These Departments must link up the transactions through POS with their central system which is possible in these technology days. more
Feb 07
I agree with the views expressed by Mr. Karur Radhakrishnan and also insist once again that why we should pay more for purchases as it is prices are high for middle class and poor people of India. I also request to our Hon PM & RBI to waive the charges for successful implementation of less cash transactions. It is heard from interactions with persons in business circles that the traders associations are waiting till 31st March 2017 whether to go for POS/Any Digital mode and so they are insisting for cash. Govt will be compensated by the incomtax collection of these medium and small traders who don not pay or pay less tax due to non availability of data of their transactions. Even 90% pathology, Dr. Consultation charges are accepting cash only. How less cash scheme will be implemented. more
Feb 07
