A Carrot for the Honest

  • Krishnan Dharmarajan, Executive Director at the Institute for Financial Management and Research:  It is about time a real comparison was made of debit card usage at ATMs and in electronic transactions and direct policy moves.
  • The seller of goods obviously has a lot to lose by accepting the debit card. He is liable to be taxed for such transaction. To encourage the usage of debit cards, a small incentive should be given to the taxpayer to use his card or mobile.
  • For example, the government could grant a 5 per cent income tax rebate for taxpayers who make more than 85 per cent of their payments in cashless mode.”