FinMin sets up panel to help promote card payments

With an aim to discourage cash transactions, the finance ministry has set up a high-level committee to suggest steps to promote card payments through incentives like tax rebates and cash back schemes. The 11-member committee, headed by former finance secretary Ratan P Watal, will recommend various measures to “incentivise transactions through cards and digital means, e.g., through tax rebates/incentives, introduction of cash back/lottery,” the ministry said.