Go cashless, Save More!
Government’s decision to demonetize old Rs 500 and Rs 1000 notes effective from 9th November whipped 86% of total currency in the nation. However, the government encouraged people to deposit these high-value notes into their respective bank accounts and turn to the digital payment system. To convert the economy into a cashless one, the government along with RBI has proposed many schemes, where paying through digital cash is not just convenient for you but you gain several benefits from using digital cash. You can save lot of money by choosing digital means of payment.
Buy petrol and pay by card
After a month of the demonetization policy, Arun Jaitley, Finance Minister of India has also declared a discount of 0.75% on buying petrol or diesel through digital cash in any form such as debit cards, credit cards, mobile wallets, e-wallets, etc. Thus if you buy petrol worth Rs. 1000, you pay only Rs. 992.5. So now you can go some extra miles by using your card for payments at petrol pump.
Pay your premium online
You can also enjoy a discount of 10% on general insurance and 8% on life insurance when you pay the premium online for buying a new policy from a public sector insurance company like Life Insurance Corporation, SBI Life, New India Assurance, Oriental Insurance, National Insurance, and United Insurance. Thus, it is really worth moving from cash transactions to digital ones.
Train travel to become cheaper
You can enjoy a discount of 0.5% on your monthly or seasonal suburban railway tickets on paying through digital means. However, you can avail these discounts only from January 1, 2017. You are also benefited with a free accidental insurance cover up to 10 lakh on an online railway booking. In addition to that you can also claim 5% discount on paying online for railway catering, retiring room, accommodation, etc.
Claim discount for Toll payments
The government has also stated a 10% discount on using RFID card/ Fast tags at toll plazas on national highways. So, you actually pay 90% of what you would have been paying earlier just by moving from cash payments to digital cash payments.
Save on service tax
Generally service tax is applicable on digital transaction when you pay through digital means. Now the government has decided to wave service tax on digital transaction charges for transactions up to Rs.2000.
No transaction fee
The government also outlined not to charge any transaction fee while making payments to the central government departments as well as public sector undertakings. So now you can save a good sum of money while making such payments.
Digital payment is rewarding
Many websites and smartphone applications have authorized e-wallets such as Paytm, Freecharge, Mobikwik where customers can enjoy huge discounts while shopping, booking tickets, making the bill payments, etc. Thus, create your personal account over these platforms and enjoy different offers provided by these websites. These platforms have made it really easy to make secure payments in digital cash.
Final word
In order to turn our country into a digital nation or a cashless economy, the government has provided various incentives. While there is a huge shortage of cash in hand, and huge number of discounts for you to avail, you can easily save money by making digital payments.
