Even DMRC does not promote digital-payment

Kashmir Times. Dated: 3/24/2020 11:52:16 PM

Dear Editor,
It was indeed surprising and shocking that rupees 1.76 were levied extra perhaps as transaction-charges on re-charge of rupees 200 in metro-card of Delhi Metro Rail Corporation DMRC. If essential government services like recharging of metro-card requires transaction-charge on payment through credit-card, then promotion of digital-payment can certainly not be there.
If government really wants promotion through digital payments, transaction-charges on payment through credit-cards should be reduced to just half-percent that too be paid by central government rather than traders. Presently people avoid payment through credit-cards because traders demand transaction-charge of two-percent extra especially for commodities with low profit-percent. Otherwise also traders even having sufficient trade-margins usually make excuse that credit-card machine is not working to save two-percent transaction-charge. Banks can even discontinue exchangeable credit-points for use of credit-cards. Banks will earn enormously because of manifold rise in transactions through credit cards. Government will gain through drastic increase in revenue-earning because tax-evasion avoided through cash-payments.
All registered GST dealers dealing in cash must compulsory have minimum two sets of credit-card machines to avoid usual excuse of credit-card machines not working. Traders must have sufficient proof of banks not rectifying faults in credit-card swapping-machines failing which traders may be liable for heavy penalty for avoiding payments through credit-cards. Credit-card machines must not have confusing options like EMIs for payments or tips in restaurants.
Reserve Bank of India (RBI) should also fix maximum interest-rate on delayed payments for credit-cards. Malpractices of imposing penalties should also be regulated by RBI. Presently in case of say crossing limit by say a petty amount of rupees 100, banks impose over-limit penalty of rupees 500 plus GST. System of over-limit penalty should be abolished with banks having liberty to decline payment beyond permissible limit to the customer.
--Subhash Chandra Agrawal
1775 Kucha Lattushah
Dariba, Chandni Chowk
DELHI 110006 (India)



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