By Our Reporter
SHILLONG: In its bid to deal with the problem of counterfeit currency notes in the country, the Reserve Bank of India (RBI) is embarking upon a plan to create awareness among people about cashless transactions.
This was stated by the RBI’s Executive Director G. Padmanabhan while participating in a workshop — Look Northeast-Stakeholders Enhancing financial inclusion through modern electronic payment system – here on Saturday.
“The RBI has taken up the challenge to take people on the path of “cashless transaction.” Padmanabhan told newsmen after the workshop
He also pointed out that this would help controlling the fake currency note menace.
The RBI has also liberalised norms for banking through mobile phones and electronic transfer of cash.
According to Padmanabhan, the system has many advantages – it is faster as well as transparent.
While removing the apprehensions that online transaction are not safe, he stated that the system is adequately protected” for transactions.
“The RBI would never otherwise encourage people to go for this system. And the norms for consumer protection are clearly laid down,” he said.