Customers of Krishi Bikas Bank Limited will now have the opportunity to win cash prizes for daily transactions through QR. With the addition of the internal revenue department's 'Taxpayer Incentive Program' to the bank's mobile banking app, eligible digital transactions will automatically participate in the government lucky draw. The government of Nepal and the Internal Revenue Department are conducting this incentive program with the aim of increasing the use of digital payments and maintaining transparency by linking transactions with the tax system. To facilitate this program for its customers, Krishi Bikas Bank has provided a separate facility called 'IRD Incentive Program' in the mobile banking app.
To participate in the program, the customer must purchase goods or services worth at least 100 rupees for personal purposes within Nepal. For that, the payment has to be made by scanning the Merchant QR of the concerned businessman through the mobile banking app of the Agricultural Development Bank. It is mandatory to get a PAN or VAT bill from the shop or service provider after the transaction. The bill received should be retained for prize claim and transaction verification.
Customers do not need to apply separately for eligible transactions. Eligible transactions are automatically included in the Inland Revenue Department's lucky draw system. From such draw every day one winner will get a net cash prize of Rs 1 lakh after deduction of tax. Similarly, every 15 days one person will be awarded a cash bumper prize of Rs 10 lakh.
The customer can also view the details of whether he is eligible for the transaction program through the mobile banking app. By entering the 'IRD Incentive Program' menu in the app, one can check the number of eligible transactions, transaction details and history. Also to get information about prize status and lucky draw results through the same facility
