Thursday, October 1, 2020
Home Uncategorized The biggest news about Bank Transaction, if not read, will be late...

The biggest news about Bank Transaction, if not read, will be late…

The biggest news about Bank Transaction, if not read, will be late…
New Delhi. Sometimes the payment fails when using a credit card or debit card. There may be several reasons for payment failure, one of which is the lack of Internet connectivity. However, you will soon be able to easily digitally connect through card and mobile offline i.e. without internet. The Reserve Bank of India (RBI) on Thursday announced offline payment cards on pilot scheme on offline mode i.e. no internet card and small payment through mobile.




Recently, a meeting was held under the chairmanship of RBI Governor Shaktikanta Das allowing payment of small amounts through no internet card and mobile. Under the notification of the bank, it can be done from debit card, wallet or mobile under the pilot scheme. No verification will be required. The scheme will run till March 31, 2021.




Also Read: Yearly 2GB Daily Data Prepaid Plans From Reliance Jio and Bharti Airtel Compared




The initiative is also aimed at encouraging customers to digitally transact in places where internet connectivity is lacking. Rbi said in a statement on developmental and regulatory policies that the central bank has been encouraging units to develop offline payment solutions. That is why the Pilot Scheme proposes to allow small amount of payments with small payment features through offline, taking into account the interests of users, liability security, etc.




The central bank also said that the Payment System Operator (PSO) will have to implement online dispute resolution (ODR). Controversies and complaints have also increased as digital transactions grow. This system of redressal of grievances will be rule-based and transparent. There will be no human intervention or even if there is very little.

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Most Popular

Babri Demolition Case: All 32 Accused Including LK Advani Acquitted

(adsbygoogle = window.adsbygoogle || ).push({}); Babri Demolition Case: The 1992 demolition, when thousands of Hindu activists tore down...

Actor Akshat Utkarsh Found Dead At Mumbai Home, Police Suspect Suicide

The 26-year-old was found dead in his room by his woman friend who shared the flat with him on late Sunday night, said an...

Vice President Venkaiah Naidu tests Covid-19 positive, he is asymptomatic

(adsbygoogle = window.adsbygoogle || ).push({}); Vice President Venkaiah Naidu, 71, announced on Tuesday evening that he has been...

UP Woman, Gang-Raped And Tortured 2 Weeks Ago, Dies In Delhi Hospital

(adsbygoogle = window.adsbygoogle || ).push({}); Injuries to her neck had left her paralysed and struggling to breathe, said...

Recent Comments