Lucky Grahak Yojana

Digital payments are the new norm. Gone are those days when you could not survive without having cash in your wallets or your pockets. When going from point A to point B would necessitate you to have some cash on you. Lately, that is not the case, and the internet could be attributed to this massive frameshift in personal finance. 

Understanding the reliance of people on digital avenues of the transaction, the government decided to step in and make matters all the more lucid for the people of India. In order to promote digital payment methods, and to encourage consumers and merchants to latch on to these payment modes, the Government of India started the Lucky Grahak Yojana. 

Objective of the Lucky Grahak Yojana

The main aim of this scheme is to incentivize digital transactions all over the nation so that people adapt to and adopt electronic payment methods across all sections of society. 

As times are changing, the world is getting increasingly digitized. To ensure we, as a growing economy, do not lag behind, this scheme comes forth. It also eventually puts us at par with those countries that are advanced and rely only on digital modes of payment. 

What does the scheme offer?

The scheme primarily offers rewards which go as follows: 

  1. A daily reward of Rs. 1,000 to be given to 15,000 lucky consumers for a total period of 100 days
  2. There will also be weekly prizes worth Rs. 1 lakh offered to 7,000 consumers, Rs. 10,000 and Rs. 5,000 for consumers who use alternative modes of digital payments. These transactions will include all forms of transactions namely UPI, USSD, AEPS, and RuPay cards. However, these will, for the time being, exclude transactions through Private credit cards and digital wallets. 

Eligibility criteria 

In order to be eligible for the scheme, the consumer has to adhere to the following requirements:

  1. All consumer-to-merchants, consumer to government, and all other AEPS did from November 8 2017 are considered eligible. Person to person and Business transfers were not eligible. 
  2. Customers are merchants using RuPay card, BHIM, UPI, USSD based services are considered eligible for participating in the daily and weekly rewards. Transactions through credit cards, e-wallets are not considered eligible. 
  3. Transactions need to be within the range of Rs. 50 to Rs. 3,000

What is the process to enroll for the scheme?

The winners for the scheme are identified through a random process of draws. This draw is picked off the eligible Transaction IDs. This automatic picking of transaction ID is specially developed by NPCI for this very purpose. 

The draws for these events take place across the nation in 100 different cities. In each city, DigiDhan Mela was also conducted. 

In conclusion

Through this scheme, the government aims to incentivize the usage of online payments. They want to build up people’s confidence that digital payments are safe, reliable, and really easy to use. As opposed to the fear of losing money online, the government tries to garner people’s trust that they have a chance of earning money through online transactions.

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