Indian banks urge customers to avoid cash and go online

• Kotak Mahindra Bank, Axis Bank and State Bank of India are asking its customers to use digital transactions instead of cash.
  
• This comes after the Reserve Bank of India government urged customers to limit the use of cash and switch to online banking facilities as much as possible.
  
• All the non-cash digital payment options including NEFT, IMPS, UPI and BBPS are available to people round the clock.
  
  

Kotak Mahindra Bank, Axis Bank and State Bank of India are asking its customers to use online banking instead of cash.

The Kotak Mahindra Bank today sent out a msg to all its customers saying “due to COVID-19 and as a measure of abundant caution, our offices will operate with reduced staff. We encourage you to use Mobile/Net Banking for 24X7 access to your accounts.”

Axis Bank too sent out an email to all its bank customers requesting them to limit their visit to their branches and switch to digital banking.

“Axis Bank has digital channels like Internet Banking, Mobile Apps, Chatbot, etc, which enable our customers to reach the Bank anytime and from anywhere.” the bank wrote.

Whereas, government run- State Bank of India listed out all the digital channels available to customers for performing any digital transaction. Moreover, Parliament House complex is preparing to go cashless from March 31. Prepaid cards will have to be used to buy meals in the canteens, for which the State Bank of India is making special arrangements.

This comes after the Reserve Bank of India government urged customers to limit the use of cash and switch to online banking facilities as much as possible. It ensured that all the non-cash digital payment options including NEFT, IMPS, UPI and BBPS are available to people round the clock.

RBI has also asked its employees to work from home until March 31. Only select employees will report to the central office in Mumbai.

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