Govt employees will receive interest-free RuPay Prepaid card of Rs 10,000
Govt employees will receive interest-free RuPay Prepaid card of Rs 10,000:
Coming festive season government employees will receive interest-free advance of Rs 10,000 each that will help generate demand worth Rs 8,000 crore in the Covid affected economy. Employees will get pre-loaded RuPay Card of the advance value, which they would have to spend by March 31, 2021
The amount spent would be recoverable in 10 instalments. The bank charges for the issue of card will be borne by the government.
With a view to boost consumer demand and revive the economy which has been subdued amid the pandemic, Finance Minister Nirmala Sitharaman on Monday announced a slew of measures to stimulate expenditure by the public.
As per the minister, the scheme would ensure digital mode of payment, resulting in tax revenue and encouraging honest businesses. But unlike the LTC scheme, consumers would be free to spend the amount on items of their choice irrespective of GST applicability.
Festival advance along with other similar advances were abolished on the recommendations of 7th Pay Commission. Prior to this, non-gazetted central government employees used to get Rs 4,500 as festival advance.
With the latest proposal, the festival advance to government employees (both gazetted and non-gazetted) will be for festivals up to March 31, 2021.
The Centre, is likely to disburse Rs 4,000 crore towards the advances.
If implemented by all state governments too, another Rs 8,000 crore is likely to be disbursed, with the current assumption that 50 per cent states would adopt the scheme and the states’ expenditure estimate would be at Rs 4,000 crore.
This scheme would not result in any permanent increase in government expenditure and as it advances will be recovered.
The move is likely to generate additional consumer demand of Rs 8,000 crore.
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Last updated by: abhishek012
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Kya kroge… 3-4 saal mai aa jakar automatically private employee ban jaaoge 
Why waste money – 300 to 500₹ minimum for providing this rupay card? Just deposit the money directly into their account as part of their salaries. Let the decide to save it or spend it. Let tayi not decide what they shd do with their money.
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This scheme stinks – looks like another opportunity for someone to make a ton of money by handling the issuing of this rupay card!!
The money is given to spend it not save it.
Good initiative. Wallet reloads should be blocked in this card. But how many small merchant have instruments to accept these payments? Hope these money won’t go to big companies.
uske liye blockchain technology chahiye.
so, customer will use this card only for online/offline shopping.
NPCI’s Blockchain-Based “Vajra Platform” currently in under development.
1) Tayee is testing RuPay network on a trusted customer base.
2) Sarkaari babus paisaa dabaa ke rakhte hai. They will be forced to spend these 8k crores as the cards will have expiry date.
3) binaa kharchey ka ek aur ‘event’ ho gayaa.
4) my vague idea; its related to credit-generation (not money-circulation), but i can’t figure out exactly how.
tag me if there is any one reselling these at discounted price 
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few things which I feel good about this is IF IF IF
equal amount give to all, no discrimination based on designation
might be an exempted income
after card expiry it will be interesting to research on spending analysis on essentials, comforts and on luxurious needs.
It is in the nature of advance salary and recoverable from salary. So it is not exempt income.
As per finance ministry circular, F No.12(2)/2020-EII dated 12th Oct, there no restriction and it is applicable to “all govt servants”.
employee has to pay it back….wats d big fuss abt it by govt…dey r just forcing employee to spend their own money
The LTC cash scheme is actually better. As per the example cited, an employee drawing a basic pay of Rs.1.38 Lakhs and having a family of four, will need to spend Rs.2.94 Lakhs on items having GST of 12% or more, and take 10 days leave encashment (mandatory) to get back Rs.1.34 Lakhs, out of which Rs.80K will be non-taxable.
So they can buy a small car for Rs.3 Lakhs by paying just Rs.1.65 Lakhs. There will be many takers of that scheme.
Now in some years govt will start giving different voucher
5k voucher of hotel : tourism help
10k voucher of flights : aviatation sector help
…….
And ofcourse these all will be deducted from salary only.
Aise karenge ab ye revive.
Aam janta ko lagega ye sarkari nikamme ko lagega extra paise diya ja raha, and employee ko lagega paisa badhana to dur ulte kam ho gaya. (Pahle da increment roka, ab ye bawasir)
Bro, it’s optional, if you want then you have to apply, and then only you will get. PM will not visit personally to deliver this card. The government trying to revive the economy and then also peoples are complaining. I am working in a private job, I can use this money for buying something and I can return it back in 10 months. As simple as that. No one is forcing anyone to take this. Why always act as a cry baby.
Hope it is rupay platinum debit card 
No amazon offer on rupay prepaid cards. 
bhakt be like: modiji ne kiya hai to acha hi kya hoga
govt is trying Zero Interest Rate Policy:
https://www.investopedia.com/articles/investing...
These फिसड्डी policy makers are trying to play safe giving out ZIRP credits to govt employees making sure all money is returned.
Another scheme being implemented in wrong manner.
I believe ZIRP credit should be disbursed to MSME with good credit-history and who want to restart/increase production and modernize their means of productions or even want to try new ideas.
If they wished to distribute this money to individuals, they should have chosen those who cut their spending during this slowdown; not the govt employees who have been continuously spending in same manner throughout lockdown.
Or govt should hand out these small credits to small shop-owners/service-providers whose capital (पूंजी) decreased due to lack of demand.
This is the time for Mudra-like scheme.
I am sure this additional 10k in the hands of govt employees will have exact NULL effect on demand-growth.
Requesting @rogerthat to share own experiences and views.
This is only for central govt employees their salaries are already too high
Isn’t this free loading
These same people bark when subsidy is given to destitues.
Not free loading because they will have to return whatever they spend out of this 10k in 10 installments though with zero additional charge.
Govt is also doing it for its own benefit. Due to covid related issues GST collection is at all time low. Central Govt had even failed to transfer the share of earlier GST collections to the States and wrongly appropriated the collection into consolidated funds, as pointed out by the CAG and the States are shouting. This will increase GST collection as all spending have to be through official GST channel.
To avail this GST condition are imposed
hahahahahahaaa
pvt company employees are facing financial problem and government announced this scheme for government employees.
what is the cost of the scheme to the Govt – ZERO. They were legally bound to pay the salary anyway.
what is the extra benefit to the govt – additional GST income as the employee is required to mandatorily spend the money within a defined time, which otherwise he might have just saved if he got it as normal salary.
so this scheme is not for the employees but for the govt itself.
How to get this
Only for central govt employees.
Isse achha government 5k limit wala rupay credit card sabko dant deta.
Ek sath hi visa master ko bhi ko khopche me le liya jata.
credit card issuing cost bohot jada hota ha aur credit card se desh ki economy kharab hoti ha, na ki acha.
i mean depend karta ha agar tum offers lootne aur sahi time pe repay karte ho toh achi baat ha customers k liye but log credit card payment default karte ha and credit card defaulters log badhte ja rahe ha desh me.
USER SPECIFIC DEAL
VD
Govt employees Job is safe even in Covid. They don’t need and should not be given such thing.
Normal people should be given such benefit in any way.
It is not something new
It is there since many years
Just this time rupay drama.
Anyways everyone gonna avail 10k interest free money
I am a government employee and i think there was no need for such offer. Now every government employee will take benifit from it.
Govt want you to take benefit so that atleast you will spend 10000
SBI UTSAV RuPay Card – Central Government Employee Now Apply For This card - https://www.desidime.com/discussions/sbi-utsav-...
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