Lucky Grahak Yojana by NITI Ayog- Explained


LGY 

LGY stands for the Lucky Grahak Yojana. It is also known as Digi – Dhan Vyapar Yojana. As its name suggests that it’s a lucky draw scheme. This scheme was launched by NITI Ayog.

What is NITI Ayog?

  • NITI Ayog stands for the “National Institution for Transforming India”. It was founded by Narendra Modi on 1 January 2015. NITI Ayog replaced the Planning Commission. 
  • Planning Commission was an institution which helped to formulate the India’s Five Year Plans, but it was dissolved by our Prime Minister Shri Narendra Modi in 2015.
  • Lucky Grahak Yojna was launched with the objectives to make India Cashless and Digital as well.

Need of Cashless and Digital India

  • To remove corruption and black money from India there is a need of this Yojana. If this Yojana becomes successful in making our India Digital, then Corruption and many other evil practices will automatically be removed.

How it make India Cashless and Digital?

  • In November 2016, our government took initiative to make our India free from corruption and black money holders. For this, the government banned 500-1000 notes. People face many problems regarding the exchange of currency So, they started doing cashless transactions. No doubt, that people are familiar with these activities, but most of the people avoid doing cashless transactions because most of the people don’t know how to do Cashless transactions. After this more than 50% started making cashless transactions.
  • For making people more aware of the cashless transaction our government started Lucky Grahak Yojana. In this Yojana, there is a lucky draw for those who will do more cashless transactions during a particular period. This scheme is for merchants and customers only. 
  • Our Government decided to give the Christmas gift to our Nation So, First lucky draw will be declared on 25th December 2016.
  • The second Lucky draw will be declared on 14th April 2017 on the occassion of Dr.Ambedkar Jayanti.

Terms & Conditions

  • Those who are doing cashless transactions by using AEPS, USSD, UPI, RuPay. They will be eligible for this scheme.
  • Those who are doing cashless transactions through credit card, debit card and other applications like E-Wallet. They will not be eligible for this scheme.
  • NITI Ayog’s CEO Mr Amitabh Krant announced that (NPCI) National Payment Corporation of India will distribute gifts to customers by cashback prizes of Rs.1000 in the next 100 days which is starting from 25 December.
  • On 14th April three Lucky draws will be announced for those Consumers who did digital transactions between 8th November 2016 to 13th April 2017
               First Prize- Cash Prize of 1 Crore
               Second Prize- Cash Prize of 50 Lakhs
               Third Prize- Prize of 25 Lakhs
  • On 14th April three Lucky draws will be announced for those Merchants who did digital transactions between 8th November 2016 to 13th April 2017:-
                  First Prize- Cash Prize of 50 Lakhs
                  Second Prize- Cash Prize of 25 Lakhs
                  Third Prize- Cash Prize of 12 Lakhs


Selection of Lucky Grahak

For selecting the persons for the lucky draw there is a simple method which is the random selection.  NPCI has made a software through which they make payment of that Lucky Grahak person. National Payment Corporation of India (NPCI) is a non – profit organisation which took the initiative to make India Digital. As its motive is to make the middle class and poor people aware about the Digital India.

Conclusion

The main objective of this Grahak Lucky Draw Yojana is to increase the “Cashless Transactions” and to make our country Digital.These efforts of the government will take India to the paramount of development.
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