Industry News

CAIT urges Government to promote e-payments in India

Retail activities and wholesale trade is affected severely because of very low volume of transportation of goods, according to CAIT.

To encourage widespread usage of digital payments, the CAIT has suggested banks should be advised not to charge transaction cost on usage of debit and credit cards.

CAIT said retailers who have direct connect with consumers may also be authorised to accept high value denomination currencies from consumers subject to necessary identification documents which in turn may be submitted to banks.

Post demonetisation, the statement claimed the trade in the markets has reduced to 25% in comparison to normal days.

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