In a bid to encourage cashless economy, the government seems to be in no mood to leave any stone unturned. The government has announced to offer incentives and prizes of Rs 1 crore to users who are making payment online.

The government's think tank Niti Ayog has come up with an innovative plan to encourage Indian citizens to use online payments. The government plans to announce winners on weekly as well as quarterly basis.

"Niti Aayog has proposed Rs 125 crore budget for the award scheme to encourage digital payments in the country for moving towards less-cash society," a government official told media.

Starting Christmas this month, 15,000 winners will get Rs 1000 each for next 100 days. While, 7000 weekly winners can fetch prizes worth Rs 1 lakh each and maximum prize money of Rs 50,000 each for merchants.

On the top of that on April 14, which is the last date of the scheme, a mega award of Rs 1 crore will be announced, while  there will be second and third prizes  of Rs 50 lakh and Rs 25 lakh each respectively.