Card payment may become mandatory for 5-star hotel bills
Advertisement
Advertisement
Finance Minister Paying hotel bills beyond certain limits through debit or credit card would enable the government to keep a track on an individual’s spending. This process is followed by many European countries for the same reason.
An ET report revealed that Jaitley, as per Special Investigative Team’s (SIT) suggestion on black money, wants to incentivise credit and debit card transactions and discourage cash transactions for high value payments.
"Several things are under consideration, for example incentivising banks ... you know there are transaction costs which government can perhaps share. But there are also otherwise, you know what I would say to disincentivise cash transaction, any expenditure by a person in a five star hotel above Rs 5,000 have to be settled using credit card, there can be also decisions like that," finance secretary
The
Advertisement
While SIT’s suggestions also include confiscation of cash by private individual beyond certain limit, it has also asked the government to ensure that small cash transactions made by mass don’t get affected in this process.
(Image: Reuters)
Advertisement
- I spent $2,000 for 7 nights in a 179-square-foot room on one of the world's largest cruise ships. Take a look inside my cabin.
- Colon cancer rates are rising in young people. If you have two symptoms you should get a colonoscopy, a GI oncologist says.
- Saudi Arabia wants China to help fund its struggling $500 billion Neom megaproject. Investors may not be too excited.
- Catan adds climate change to the latest edition of the world-famous board game
- Tired of blatant misinformation in the media? This video game can help you and your family fight fake news!
- Tired of blatant misinformation in the media? This video game can help you and your family fight fake news!
- JNK India IPO allotment – How to check allotment, GMP, listing date and more
- Indian Army unveils selfie point at Hombotingla Pass ahead of 25th anniversary of Kargil Vijay Diwas