ATMs to Accept UPI? RBI Announces Cash Deposits via UPI App

  • Good news for digital payment users! The RBI Governor, Shaktikanta Das, has announced a new UPI-based system for depositing cash at bank branches.
  • Currently, cash deposits are done using debit cards at Cash Deposit Machines (CDMs).
  • This initiative leverages the success of cardless cash withdrawals using UPI at ATMs.
  • Users will likely be able to deposit cash at CDMs using their UPI app, eliminating the need for a debit card.
  • The RBI will release detailed instructions on how the UPI cash deposit system will function.
  • This move is expected to boost convenience and efficiency for both customers and banks.

Comments

Post a Comment

Popular posts from this blog

Silver Breaches $100 as Global Inventory Crisis Deepens

NEW YORK — Silver prices shattered historical records this week, breaching $100 per ounce as a convergence of industrial demand and geopolitical maneuvering stripped global inventories bare. What analysts are calling a "perfect storm" has transformed the metal from a speculative commodity into a scarce strategic asset. The surge is driven by a breakdown in confidence within "paper" markets. Institutional investors, fearing insolvency at major exchanges, have demanded physical delivery of silver bars, draining vaults in London and New York. Lease rates—the cost to borrow metal—have skyrocketed to 8%, signaling acute scarcity. Compounding the squeeze is a seismic shift in trade policy. On January 1, China implemented strict export controls, reclassifying silver as a strategic mineral critical for national security. This move effectively severed Western markets from the world’s largest refining hub, fracturing the global supply chain. Simultaneously, a hidden sour...
Read more

FIREPOWER BOOST: BEL Bags Whopping ₹1,640 Crore Army Radar Deal!

Bharat Electronics Limited (BEL) has clinched a massive ₹1,640 crore order from the Indian Army for the supply of state-of-the-art Air Defence Fire Control Radars (Atulya), signaling a major leap for India’s indigenous defence capability. The contract highlights collaboration between BEL and the Defence Research and Development Organisation (DRDO), which designed these advanced radars to elevate air defence shield along the nation’s borders. Atulya radars are engineered for 24/7 surveillance, target detection, acquisition, tracking, and direction of air defence guns — providing an impenetrable wall against fighter jets, helicopters, and UAVs even in adverse weather and electronic warfare conditions. These radars feature cutting-edge Electronic Counter Measure (ECM) technology, ensuring they operate seamlessly even when the enemy tries to jam or disrupt radar signals. Modular in design, Atulya radars offer flexibility for fast deployment, easy maintenance, and high operational readiness...
Read more

Wall Street’s Big Fall: SEBI Drops the Hammer on Jane Street!

Key Developments SEBI has imposed a sweeping ban on Jane Street Group , a major US-based trading firm, from participating in the Indian securities markets. The action comes after allegations that Jane Street  manipulated Indian stock indices  and unlawfully pocketed gains of  Rs 4,843 crore . The ban is immediate and covers all Jane Street entities and affiliates, barring them from buying, selling, or dealing in any Indian securities, directly or indirectly. The Alleged Manipulation Jane Street is accused of  artificially inflating stock prices  of key index components, especially in the Bank Nifty and Nifty 50, during morning trading sessions. The firm would then  reverse its positions aggressively  later in the day, causing the indices to fall and profiting from options trades that bet on such movements. This strategy, described as “intra-day index manipulation” and “marking the close,” was allegedly deployed on multiple expiry days, misleading retai...
Read more