City
Epaper

RBI encourages people to use digital mode of payment in wake of Covid-19

By Lokmat English Desk | Updated: March 16, 2020 18:38 IST

In the wake of Covid-19, the Reserve Bank of India on Monday issued a press release that stated, RBI ...

Open in App

In the wake of Covid-19, the Reserve Bank of India on Monday issued a press release that 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 corona virus pandemic by avoiding social contact and visit to public places, 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.

Tags: Reserve Bank Of IndiaCovid-19Coronavirus
Open in App

Related Stories

BusinessRBI Governor to Announce Policy Rate Today; Experts Split As Economists Expect Pause, Industry Eyes Cut

BusinessHDFC Bank Share Prices Fall After RBI Imposes Rs 91 Lakh Fine For Violations Including KYC Lapses

ThaneThane Municipal Corporation Launches Metropolitan Surveillance Unit To Detect And Control Future Epidemics

BusinessWhat is Universal Banking? RBI Grants This License to a Bank for the First Time in 11 Years

NationalRBI Repo Rate: What is This ‘Repo Rate’ Everyone’s Talking About? And Why Does Your EMI Go Up Because of It?

कारोबार Realted Stories

BusinessGovt releases over Rs 127 crore for rural local bodies in Tamil Nadu

BusinessDevendra Fadnavis inaugurates World Hindu Economic Forum 2025, a platform that connects economic growth with India's civilizational values

BusinessRBI imposes Rs 61.95 lakh penalty on Kotak Mahindra Bank

BusinessWayWheel: Creating a More Reliable On-Demand Delivery Network

BusinessRBI discusses global, domestic economic situation, challenges at board meeting