The Indian Government has extended the term of the Bhim Cashback Plan till March of next year. Under this scheme, the retailers who accept payment from Bhima App are encouraged up to 1,000 rupees. A note in the Ministry of Electronics and Information Technology said that Bhim Cashback Plan for shopkeepers will be in operation till March 31, 2018.
Prime Minister Narendra Modi presented this scheme for six months on April 14 to encourage the unemployed payment from Bhima App.
Under this scheme, shoppers first get a cashback of 50 rupees on 20 to 50 transactions. After this, cashback of Rs. 950 is given on the next transaction upto Rs. 950. The monthly limit of Bhima Cashback scheme is Rs. 1,000. The condition under this scheme is that the shopkeeper should have at least 20 transactions from India Interface For Money (BHIM AP). Each payment should be at least 25 rupees.
Bhima Cashback scheme for businessmen hastwo objectives of Bhima Cashback Scheme: Increasing the number of traders registered on Bhims platform and increasing the number of business transactions through Bhima App.
The goal of this scheme is not to encourage traders to use Bhima App only once. It also promotes transactions through Bhima mode (QR code or VPA or mobile number or payment by base). Under this scheme, a trader can get cashback up to Rs 300 per month. At the same time, every trader can take advantage of up to Rs 1,800 in 6 months.
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