Offline Digital Transaction: Now you can do offline digital transactions without internet, RBI approval
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Offline Digital Transaction: The Reserve Bank of India (RBI) has issued a notification yesterday in which a new announcement has been made regarding Offline Digital Payments. Now digital transactions can be done offline in villages and towns. Currently, transactions up to Rs 200 have been allowed under offline payment.
Step towards Digital India
RBI has said that a maximum of 10 transactions of Rs 200 i.e. up to a total of Rs 2000 can be done offline. It is believed that this will encourage digital payments and will help in moving forward towards Digital India.
Decision taken on the basis of pilot project results
The project of offline payment was started in many parts of the country and based on the reaction of the people, it was decided that the need for offline payment mode is very high in villages and towns and to start such a scheme for small payments there. It will be convenient for the people.
What did the Reserve Bank say
The Reserve Bank has said that this system has come into force with immediate effect to promote digital transactions in areas with weak internet connectivity, especially in villages and towns, due to offline payment.
What are its specialties
Offline payment can be used only after the permission of the customers.
There will be no need for ‘Addition Factor of Authentication (AFA)’ for this type of transaction.
Due to the payment being offline, customers will get the message through SMS or e-mail after some time.
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