RBI advises banks to organise camps on digital transactions from 1 April

RBI has asked banks to organise special camps from 1 April to educate public about digital payments through UPI and 99# (USSD) code platforms. It said the policy on conduct of camps by FLCs (Financial Literacy Centres) and rural branches of the banks has been revised given the recent developments on withdrawal of legal tender status of old Rs 500/1,000 notes and the focus on going digital.

“FLCs are advised to conduct special camps for a period of one year beginning April 1, 2017 on ‘Going digital’ through UPI and *99# (USSD),” the Reserve Bank of India said while revising the guidelines. Unified Payments Interface (UPI) is a system that powers multiple bank accounts into a single mobile application. The USSD service for fund transfer works without internet.
Besides the special camps on going digital, RBI said FLCs will continue to conduct the tailored camps for the different target groups.

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