Mangaluru, Jan 11: City-based Expert PU College has won Rs 50,000 in the lucky business scheme introduced by the central government to encourage cashless transactions by customers and small scale traders.
Expert PU College, Kodialbail, Mangaluru had begun their cashless transactions through Axis Bank much before the central government had announced the scheme. As a result of this, Expert PU College has received Rs 50,000 as cash gift in the 'digi most fortunate business scheme'.
Confirming the news, chairman of Expert Group of Institutions Prof Narendra L Nayak clarified that an amount of Rs 50,000 had been deposited to the college account.
The central government had come up with this scheme during Christmas. Every week around 7,000 lucky people are chosen and awarded Rs 50,000. The mega draw will take place on April 14 where the first place winner will receive a cash prize of Rs 50 lac, second place winner will receive Rs 25 lac and third place winner will get Rs 5 lac. From the time of its inception, for 100 days around 15,000 customers are chosen and they will receive Rs 1000 each.
Expert PU College, Mangaluru, Expert PU College, Valachil, Expert Postal Coaching, Expert Coaching classes, Expert Publishing House and Expert Educational and Charitable Foundation, Mangaluru have been carrying on cashless transactions ever since 2014. To motivate the students further, every student was made to open a bank account and was given ATM cards.
Prof Narendra L Nayak remarked that such a scheme has further encouraged the Institution and its students and hence it is a welcome move by the central government.