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ISSUE 47
18 / 06 / 2019
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RBI focuses on pushing digital payments

RBI focuses on pushing digital payments
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The ‘Cash in Cash out’ (CICO) system, will help grow digital payments toward high-volume. Eventually this will lead to a decline in cash usage, especially in the rural areas. The RBI committee has listed removing transaction charges on digital payments made to government, moving to a market determined merchant discount rate (MDR) pricing structure and easing KYC costs to banks as its key recommendations.

 

https://tech.economictimes.indiatimes.com/news/internet/pushing-digital-payments-cash-but-no-cash/69749236

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