RBI Appeals People to Opt for Online Transactions Amid COVID-19 Spread, Says 'Non-Cash Digital Payment Options Are Available Round The Clock'
RBI appealed people to opt for digital transactions and non-cash digital payment options to help country combat from COVID-19. It Said that NEFT, IMPS, UPI and BBPS are available round the clock to facilitate online fund transfers.
Mumbai, March 16: Amid the growing spread of coronavirus in the country, the Reserve Bank of India on Monday appealed people to opt for digital transactions and non-cash digital payment options to help country combat from COVID-19. The RBI even informed that non-cash digital payment options are available round the clock to facilitate fund transfers, purchase of goods or services, payment of bills, etc.
Informing about the latest development, RBI said in a statement, "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." RBI Governor Shaktikanta Das Assures People's 'Money in YES Bank Safe', Says 'COVID19 Could Impact India Directly Through Trade Channels'.
Apart from this, the apex bank said, "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."
Earlier, briefing a press conference, RBI Governor Shaktikanta Das also spoke on coronavirus impact on Indian economy. He said, "India is not immune to this pandemic, already more than 100 cases have been reported. Effort are being mounted by the govt on war-footing. COVID19 could impact India directly through trade channels, in which exposure to China is really high."
RBI had issued a statement on Monday morning and asked all banks to take appropriate measures. RBI also asked the banks to put in place business continuity plans to prevent any disruption of services due to the rising cases of deal with coronavirus outbreak.
(The above story first appeared on LatestLY on Mar 16, 2020 07:04 PM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).