RBI makes cash deposits possible using UPI
Shortpedia
Content Team
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The Reserve Bank of India (RBI) has launched a new feature allowing customers to deposit cash into their bank accounts using the Unified Payments Interface (UPI) at cash deposit machines (CDMs). The feature was revealed today by RBI Governor Shaktikanta Das during the RBI's Monetary Policy Committee's policy announcement. Previously, customers primarily used debit cards for cash deposits through CDMs.
