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The government has extended the term of the BHIM Cashback Plan till March next year. Under this scheme, the retailers who accept payment from BIMA APp are encouraged up to Rs 1,000 cash back.
A note in the Ministry of Electronics and Information Technology said that BHIM Cashback Plan for shopkeepers will be in operation until March 31, 2018.
Prime Minister Narendra Modi presented this scheme for six months on April 14, to encourage cashless payments from Bhim Aap.
Under this scheme, shoppers first get a cashback of 50 rupees on 20 to 50 transactions. After that, cashback of Rs. 950 is given on every transaction up to Rs. 950.
The monthly limit of Bhima Cashback scheme is Rs. 1,000. Under the scheme, the condition is that the shopkeeper will have at least 20 transactions with the India Interface for Money (Bhim App). Each payment should be at least 25 rupees.
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