Sunday, May 22, 2022

Digital Payment: Now money transfers will happen without the internet! Offline digital payment approved, know-how

Offline Digital Payments: In order to promote digital transactions in villages and towns, RBI issued a framework for offline digital payments.

There are many villages and areas in India where even today there is no internet facility. In order to promote digital transactions in villages and towns, the Reserve Bank of India (RBI) on Monday released a framework for offline digital payments. RBI has approved digital payment. 

Know Terms and Conditions

Currently, transactions up to Rs 200 have been allowed under offline payment. In this, a maximum of 10 transactions i.e. up to a total of Rs 2,000 will be allowed offline. Offline digital payments i.e. in which internet or mobile network is not required. This offline payment can be made face to face by any means including card, wallet, and mobile.

Read More: Motorola’s waterproof smartphone is set to make a splash, and it won’t break even if it falls; learn more about the amazing features

AFA not required

RBI said that such transactions will not require ‘Addition Factor of Authentication (AFA)’. Since the payment will be offline in these, customers will get ‘alerts’ through SMS or e-mail after a short interval. 

Digital payment framework 

According to the framework issued by the RBI, ‘The limit for each transaction in this will be Rs 200. Its total limit will be Rs 2,000, offline payment was started on a pilot basis from September 2020 to June 2021 in different parts of the country. Based on the feedback received, this framework has been prepared.

The Reserve Bank further said, ‘Offline payments will encourage digital transactions in areas with weak internet connectivity. Especially in villages and towns. This arrangement has come into force with immediate effect. But, let us tell you that the central bank has clearly said that offline payment can be used only after the permission of the customers.



Please enter your comment!
Please enter your name here

Most Popular


Bookings for Hyundai Venue 2022 are now open at dealerships; view the projected pricing and launch date.

Hyundai Motors is set to release the facelifted generation of its best-selling small SUV Venue soon, and some shops have already begun taking reservations....

Check Bounce Cases: If a check bounces, it’s a bad sign, according to the Supreme Court. This work will begin on September 1st.

Examine Bounce Cases: The Supreme Court has taken notice of the rising number of check bounce instances. It has been ordered that special courts...

EPFO: Announced, interest money will come in the account of PF employees on this day, check soon

The luck of PF employees is about to wake up once again. If PF money is being deducted while doing your job, then this...

Covid Cases In India: 20 patients died due to corona across the country, more than 2 thousand cases were found in 24 hours

More than 2 thousand new cases of Covid have been reported across the country. Whereas 20 patients have died due to Covid in the...

So much interest is getting on one year FD in Post Office, know 5 big banks get this return!

Post Office Fixed Deposit: After the announcement of increasing the repo rate by the Reserve Bank of India, most of the big banks in...

Most Popular


* indicates required