Strictly opt for online transaction: Banker's Association

By Newsmeter Network  Published on  27 March 2020 6:22 PM GMT
Strictly opt for online transaction: Bankers Association

Hyderabad : Even as the claim that CoronaVirus spread via currency notes, is on the debate table, the state level banker’s committee has issued an advisory encouraging customers to stick to digital transaction.

In an advisory issued on March 27, The state level banker’s committee –Telangana has requested the customers of all banks and the general public to use the ‘digital products’ and ‘online banking channel’ facilities for their banking transaction.

‘Currency notes has the potential to transfer infection as it is said that the virus can survive on porous surfaces like paper and cardboard for few hours ( a claim that has insufficient scientific evidence to back ) . We request customers to use more electronic payments to reduce and exposure to crowded places like ATMs and banks’ said a member of the committee.

The members pushed for electronics/digital payment methods through online channels like mobiles banking, internet banking, cards. This was also said keeping in view of the lockdown, as it will encourage visiting the banks, ATMs.

According to the committee, most banks have reduced ( waived ) their charges for use of digital transaction such as NEFT, RTGS, IMPS and UPI transaction in Bank’s own ATMs. ‘Many banks are functioning with reduced staff. Hence we appeal to customers of banks and general public to make best use of the digital channels to help the fight against the menace as responsible citizens’ advised the member of the committee.

However, much before the advisory, The confederation of All India Traders (CAIT) urged the Finance Minister Nirmala Sitharaman to order a large investigation to assess the chances of disease spreading via currency notes.

Currently there is limited research or scientific evidence to back the claim that CoronaVirus can last on paper surface for up to few days, except for a research done by the Worth Health Organization. The WHO advised people to keep off dirty notes and people have been asked to wash their hands after touching currency notes.

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