RBI discussion paper: Customers of banks can celebrate. The RBI has made a fantastic suggestion to the banks. Customers will benefit greatly if banks accept the RBI’s suggestion and implement this service. Not only that, but it will also make bank operations more efficient. The RBI has requested that banks and other financial institutions consider providing e-receipts at ATMs, as well as simply remove the use of paper in their branches. The RBI has also solicited bank suggestions for this.
RBI gave tremendous suggestion
The Reserve Bank of India (RBI) stated in a discussion paper for banks that it wishes to develop a strategy based on best practices mitigating the negative effects of climate change. “RE may consider converting its branches to green branches by eliminating the use of paper in their operations and making banking processes more environmentally friendly,” the company stated. If banks follow the RBI’s instructions, there will be a revolution in the field of digital banking for customers.
Can discuss it until September 30th.
The RBI has also solicited bank suggestions for this. The RBI has requested comments on the discussion paper by September 30. As a result, REs may consider methods and means to encourage e-receipts. That is, the RBI wants customers to be able to use paperless services from bank to ATM. Customers will benefit greatly from this. The RBI also suggested that the Indian Banks’ Association (IBA) form a working group on ongoing global risk and economic capacity building. According to the RBI, this will also benefit banks.
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