New Delhi, April 9: President Pranab Mukherjee while announcing the winners of Digi-Dhan scheme emphasised on the importance of the Aadhar card initiative and said that it is a milestone in the development story of India. However, he also stated that India has a long way to go to become a cashless society. He also congratulated everybody who contributed in the mission to make India a less cash society for their contribution.

The president said he was grateful to be a part of the digital payment movement that India has embarked upon. Mukherjee said that this movement will ensure financial inclusion of all Indians irrespective of their social-economic status.

“I am happy today to be a part of the digital payment movement that India has embarked upon. I congratulate each one of you who has contributed in this mission to make India a less cash society. This will help ensure financial inclusion where every Indian, irrespective of her socio-economic status, is empowered with necessary digital tools to participate in the new age economy,” the President said.

Speaking on the occasion of the 100th mega draw of lots for Lucky Grahak Yojana and Digi Dhan Vyapar Yojana at Rashtrapati Bhawan, the president asked the citizens to extend their full cooperation to the mission of a less-cash India.

Mukherjee said that India has a long way to go to become a cashless society. He said that presently India is primarily a cash-based economy with about 95 per cent of the personal consumption and 86 per cent of all transactions happening in cash. He further emphasised that it is indeed necessary to reduce cash circulation  and promote secure digital payment methods to ensure greater transparency.

The president also discussed the new modes of digital payment and applauded the launch of the BHIM application for mobile phones. He further said that launch of BHIM has demystified all digital payment platform and has brought it within the reach of every citizen.

The Lucky Grahak Yojana scheme was introduced for consumers, while Digi Dhan Vyapar Yojana was introduced for merchants in December 2016 to promote digital transactions following demonetisation.