Latest news with #IncentiveScheme
The Print
01-08-2025
- Business
- The Print
Over six-fold spike in digital transactions since 2019-20, govt informs Parliament
'RBI set up a Payments Infrastructure Development Fund (PIDF) in 2021 to encourage deployment of digital payments acceptance infrastructure in tier-3 to 6 cities, North-Eastern States and Jammu & Kashmir. As on May 31, 2025, around 4.77 Crore digital touch points have been deployed through PIDF,' Chaudhary said in his reply. The data was provided by Minister of State (MoS) for Finance Pankaj Chaudhary in a written response in Lok Sabha to a question asked by three Shiv Sena MPs—Shrikant Eknath Shinde, Naresh Ganpat Maske, Ravindra Dattaram Waikar—and Lok Janshakti Party MP Shambhavi Choudhary, New Delhi: The volume of digital transactions in the country grew more than six-fold from 3,401 crore in 2019-20 to to 22,198 crore in 2024-25, the government has informed Parliament. During the same period, the total value of money transacted recorded a nearly 77 percent growth to reach Rs 2,862 lakh-crore from Rs 1,619 lakh-crore. The RBI has developed the Digital Payments Index (RBI-DPI) to measure the extent of digitisation of payments across the country based on March as base year (Index 100). The index stands at 493.22 as of March 2025, representing a 10.7 percent growth from March 2024 value of 465.33. The data for the index is published by the RBI semi-annually, outlining the penetration of digital payments in the country. The index is based on five parameters, each given different weightages—payment enablers (25 percent), payment infrastructure- demand-side factors (10 percent), payment infrastructure-supply-side factors (15 percent), payment performance (45 percent) and consumer centricity (5 percent). Also Read: India, Russia in 'active discussion' over RuPay & MIR mutual transactions Uplifting MSMEs & under-served communities In his reply, Chaudhary outlined the initiatives undertaken by the government, the RBI and the National Payment Corporation of India (NPCI) to support MSMEs and under-served communities. The initiatives stated in the reply include promotion of low-value BHIM-UPI transactions among others. Earlier this year, the Union cabinet approved the Incentive Scheme for promotion of low-value BHIM-UPI transactions Person to Merchant (P2M), under which 0.15 percent of incentive will be provided to small merchants for transactions up to Rs. 2,000, the minister said. The purpose is to encourage small merchants to accept UPI payments. Chaudhary said digital payments have also played a critical role in uplifting under-served and un-served communities by providing them with a financial footprint that can be used to assess their credit worthiness in the absence of traditional documents. 'Digital platforms like UPI have enabled citizens including small vendors and rural users to accept digital payments, reducing cash dependency and increasing formal economic participation,' Chaudhary said. Due to the rise in digitisation of payments, more people can now access formal channels of credit thereby allowing their economic participation. (Edited by Ajeet Tiwari) Also Read: Rs 580 cr lost to digital payment frauds in last 5 yrs, only 43% recovered—govt to Parliament
West Australian
23-06-2025
- Business
- West Australian
Venus launches drilling program in search of Murchison copper
Venus Metals has launched into diamond drilling at the company's Pincher copper-zinc target, which is part of its Youanmi base metals project in Western Australia's Murchison region. The company revealed last month its subsidiary Redscope Enterprises has received the nod to obtain a $52,500 WA Government Exploration Incentive Scheme (EIS) co-funding grant towards drilling costs to test its Pincher target. The $52,500 grant, which was the maximum Venus applied for, will cover 50 per cent of the diamond drilling costs and up to $5000 in drill rig mobilisation costs. The EIS initiative was launched in 2009 to encourage exploration in WA and trigger private sector resource exploration for new mineral and energy discoveries. The company has engaged well-known firm Terra Drilling to undertake the diamond drilling program. Venus has already drilled a reverse circulation hole to a depth of 150 metres as a pre-collar. It will hammer further into the hole using an industrial diamond-bearing drill bit to test the prospective ground for copper and zinc. The follow-up diamond tail will test a 5000-siemens conductor at 400m depth. Venus has been able to significantly reduce its drilling costs because the pre-collar reverse circulation hole was drilled to an initial 150m depth. Venus conducted ground gravity surveys across the prospective northern extension of its Pincher North Dome base metal find, which is considered a volcanogenic massive sulphide (VMS) system. The company encountered several gravity anomalies in the system, which contains copper, zinc and lead mineralisation. Subsequent moving loop electromagnetic survey lines were flown across the gravity anomalies using a Jessy Deeps SQUID sensor at low base frequency to achieve a maximum investigative depth. The SQUID sensor is an ultra-sensitive receiver for ground transient electromagnetic measurements with supposed unrivalled sensitivity. The whiz-bang technology is said to be capable of recording data up to 10 times longer or three times deeper than conventional coil receivers. Management says a broad late-time response was evident on one line and modelled at 400m depth as a flat-lying, high-conductance plate at 5000 siemens, a unit of conductive measurement to determine how well a material allows electricity to flow through it. Venus believes the modelled plate is significant and is itching for the opportunity to test the high-priority target in its upcoming co-funded drill program. The company will also use the opportunity to obtain core samples for metallurgical testwork planned on zinc mineralisation identified within two holes and will complete downhole electromagnetic surveying. It has already scored several solid gold hits at Pincher, including hits at the Linda Gossan prospect, in which the company has a 50 per cent interest through a joint venture on the regional gold rights. It intersected 9m at 15.6 grams per tonne (g/t) gold from surface at Linda Gossan, including a 3m hit of 35.2g/t from 1m. When the Pincher drilling campaign is finished, the Terra rig will motor to the company's Bellchambers gold deposit to collect core samples for metallurgical recovery testwork. Venus recently revealed a high-tech collaboration with the nation's leading science research organisation, the CSIRO, to ramp up the hunt for more gold in WA's richly endowed Sandstone region. The company inked a deal through the CSIRO's Kick-Start program, securing a $47,426 voucher to fund a six-month research project to home in on gold and copper alteration zones at Bellchambers, within its Sandstone gold deposit. Venus plans to use a combination of hyperspectral satellite imagery, downhole scanning and handheld spectrometers to rigorously map the deposit's mineral system with highly detailed 3D accuracy. Sitting 23 kilometres southwest of the historic Sandstone gold-rush township and 70km from Rox Resources' Youanmi gold mine, Bellchambers has a modest but growing gold resource of 722,000 tonnes grading 1.31g/t gold for 30,500 ounces. Notably, Venus holds an enviable 54.625 million shares in Rox, valued at about $15 million based on Rox's share price today. The company's latest 34-hole reverse circulation drilling campaign, totalling 1749m, could add more oomph to the mineralisation at Bellchambers. Standout hits include a solid 19m grading 3.74g/t gold from just 11m downhole – with a stellar 1m at 38.3g/t – along with a 29m section going 1.55g/t from 11m and 30m running at 1.72g/t from 45m. Over at Rangeview, the drill bit unearthed 13m at 1.60g/t gold from 19m and 18m going at 1.24g/t from 47m, beefed up by a 1m hit grading 11.5g/t gold. The reverse circulation chips and core samples will feed directly into the CSIRO's project to refine its advanced minerals mapping. The collaboration comprises next-generation hyperspectral satellite sensors that can scan the Earth's surface in unprecedented detail, creating mineral maps that dovetail with subsurface data from Venus' drilling program. By integrating HyLogger-3TM downhole imagery and surface spectrometry, the project aims to generate a holistic view of the mineralising system, potentially kicking up new gold-copper zones across the 125-square-kilometre tenement. Venus is on the hunt for two of the most sought-after metals on today's market, with both its targeted gold and copper looking closer to its reach with each passing month. Is your ASX-listed company doing something interesting? Contact:
