The Central Bank has urged banks to design digital products that meet consumers’ needs by using feature phones with low bandwidth because connectivity is a major roadblock in remote areas of the country.
All retail banking products are available on smartphones through mobile applications. However, not all service features are available on the phone. The RBI is targeting this distance.
Separately, the RBI has said that they are planning to review the rules on internet and mobile banking for all banks.
RBI Governor Sanjay Malhotra had started financially involved in the financial involvement, which provided financial services to all citizens, especially the underworld population. According to the latest data released by the Central Bank, the Reserve Bank’s financial inclusion index (FI-Index), which measures the scope of financial inclusion in the country. The index includes access, use and quality of financial services. The RBI plans to review the index in the financial year 26.
The latest annual report states that the RBI is planning to survey the use of digital payments. This survey will help us make evidence-based decisions in order to understand the behavior and challenges of the transactions of users and increase financial inclusion and make the payment system more effective “. RBI banks are flexible repayment, variable savings and favorable service-added access during the season, USAGE and service quality, RBI’s RBI.
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