Central Banking

RBI launches offline digital payments


The Reserve Bank of India has launched a framework for offline digital payments, hoping to encourage greater financial inclusion in remote areas.

The central bank carried out three pilots in different parts of India from September 2020 to July 2021. It said feedback from the tests had been “encouraging” and it is now rolling out the scheme to the whole country.

The RBI sets out the new framework in a document published on January 3. People will be able to use pre-paid cards or mobile devices

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