Key Points
The RBI in its MPC review on Friday, allowed users to deposit cash in cash deposit machines (CDMs) through UPI...
CDMs or cash deposit machines lets you deposit cash directly into the bank account using the debit card, saving you the hassle of visiting your bank..
"Given the experience gained from cardless cash withdrawal using UPI at the ATMs, it is now proposed to facilitate deposit of cash in CDMs that is in the cash deposit machines using UPI..
This measure will further enhance customer convenience and make currency handling process at banks more efficient," RBI Governor Shaktikanta Das said...
Governor Shaktikanta Das, delivering the last rate decision before elections kick off in two weeks time, said strong growth prospects gives the central bank space to focus on inflation...
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