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Digital Payments: CM committee submits interim report to PM Modi, govt to examine report

Digital Payments: CM committee submits interim report to PM Modi, govt to examine report

India Blooms News Service | | 25 Jan 2017, 02:28 pm
New Delhi, Jan 25 (IBNS): The Union government is yet to take a final decision taken on the recommendations of the Committee of Chief Ministers on Digital Payments, the central Ministry of Finance said on Wednesday.

The committee was constituted under the chairmanship of Chandrababu Naidu, Chief Minister of Andhra Pradesh.

The committee, which was tasked to  examine and recommend measures for implementation of digital payment systems, has submitted an interim report to Prime Minister Narendra Modi.

The Finance Ministry in its release said that the media has reported various aspects of the recommendations made by the Committee, including the recommendation relating to levy of Banking Cash Transaction Tax on transactions of Rs. 50,000/- and above.

But the central government has not yet taken any final view on the recommendations of the committee, the release said.

The recommendations will be carefully examined and appropriate decisions will be taken in due course, said the Finance Ministry.