look news india
Earlier people had to go to banks for any transaction related to their account, be it withdrawing money, depositing cash or doing any other work. These activities often require queuing at banks. However, now, many of these tasks can be accomplished without even needing to visit a bank. Thanks to ATM, various tasks including cash withdrawal can now be done sitting at home.
With the help of ATM, people can easily withdraw money from nearby places. However, when it comes to depositing money, people still have to go to banks. However, it has become more convenient now with cash deposit machines available. Additionally, the Reserve Bank of India (RBI) is launching a new scheme to deposit money through UPI.
After the arrival of UPI, digital payment revolution has come in the country. Many people now make all their payments through this medium. Under this, the Reserve Bank of India has announced a plan to deposit money in accounts through UPI. People will now be able to deposit money in their accounts through cash deposit machines linked to UPI. RBI Governor Shaktikanta Das gave this information during the discussion on monetary policy on Friday.
Guidelines for this new policy will be issued soon. Currently, people fill out deposit slips at banks and deposit cash, or they use cash deposit machines with their cards to deposit cash. However, under this new policy of RBI, people will get more facilities. Using UPI is quite simple. While currently, UPI is mainly used to make payments, soon people will also be able to deposit money into their accounts using UPI. Shaktikanta Das said that guidelines for depositing money in accounts through UPI through cash deposit machines will be issued soon.