To ensure the safety of citizens amid the coronavirus outbreak, the RBI governor has asked customers to use digital banking facilities as far as possible.
New delhi| The Reserve Bank of India (RBI) governor, Shaktikanta Das, on Monday asked customers to use digital banking facilities as far as possible. Das also added, “In the context of coronavirus, RBI and the government together are giving emphasis on encouraging digital payments. And over a period of time, various measures have already been taken to establish safe, secure, stable and affordable retail payment system such as the National Electronic Fund Transfer (NEFT) and the Immediate Payment Service (IMPS).”
He was speaking at a press briefing where he announced various measures to tackle the impact of the pandemic on Indian businesses and the economy.
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The central bank issued a press release, as well, in this regard in which it stated: RBI wishes to bring to the notice of the general public that non-cash digital payment options (like NEFT, IMPS, UPI and BBPS) are available round the clock to facilitate fund transfers, purchase of goods/services, payment of bills, etc. In the context of the efforts to limit the fallout of the coronavirus pandemic by avoiding social contact and visit public places, the public can use these modes of digital payment from the convenience of their homes through online channels like mobile banking, internet banking, cards, etc. and avoid using cash which may require going to crowded places for sending money or paying bills.
As mentioned by the governor and the RBI press release, there are various digital payment channels you can use instead of transacting via cash. Digital payments channels include NEFT, IMPS, UPI, etc. Here is a look at various measures taken by the apex bank to make digital transactions more secure and seamless in the past one year.
(Inputs from The Economic Times)
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