Digital Payments: RBI reiterates usage of these modes for banking transactions

Mumbai: As the nation enters the fourth spherical of COVID-19 lockdown, the Reserve Bank of India (RBI) on Wednesday reiterated the usage of digital modes for banking transactions.

Earlier this week, the National Disaster Management Authority (NDMA) introduced lockdown until May 31 to verify the unfold of coronavirus.

The use of digital cost modes has turn into extra essential as the continuing nationwide lockdown, imposed to keep up social distancing to include the unfold of coronavirus, has restricted the motion of individuals.

In the marketing campaign launched on a microblogging website, the central financial institution stated digital cost modes make it simpler for individuals to do banking transactions whereas being protected at house and at any hour of the day.’

“Safe digital transactions can be done from the safety of your home,” the RBI’s marketing campaign emphasised.

The a number of digital cost choices embody NEFT, IMPS, and UPI which might be accessible round the clock. RBI Governor Shaktikanta Das earlier appealed to the general public to make use of each precautionary measure, together with digital banking, to keep up social distance.

The RBI, nevertheless, warned clients to be vigilant whereas utilizing digital modes of transactions and likewise suggested them to alert their banks in case of any fraud. 

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