New Delhi: The Reserve Bank of India (RBI) has asked banks and ATMs across the country to set up cardless cash withdrawals. Cardless withdrawals are possible through the UPI system. This was announced by Governor Shaktikanta Das in his policy announcement on monetary policy.
With the realization of this system, withdrawals can be made without debit and credit cards. The RBI said it would also help speed up transactions. According to the Reserve Bank of India, this will help prevent ATM fraud.
The Reserve Bank of India (RBI) has left interest rates unchanged. The Reserve Bank of India (RBI) has said it will continue to pursue a policy of promoting development. The repo rate has risen to 4% to be continued.