Any kind of bacteria and virus can spread through currency note and hence people should use digital payment more and more instead of using the currency. In response to a query sent by the Confederation of All India Traders (CAIT), the Reserve Bank of India (RBI) has given this reply indirectly in one of its mails.
On 9 March 2020, CAT sent a letter to Union Finance Minister Nirmala Sitharaman urging to clarify whether the currency notes were carriers of bacteria and viruses. The Finance Ministry sent it to the Reserve Bank, in response to which the RBI indicated in a reply to CAT through a mail on 3 October 2020.
In its reply to CAT, the Reserve Bank has said, “To limit the coronavirus epidemic, people can conveniently make digital payments from their homes through online channels such as mobile banking, internet banking, cards, etc. and use currency You can avoid making or withdrawing cash from ATM. Apart from this, it is necessary to strictly follow the public health guidelines issued by the authorities from time to time on COVID.
Explanation sought for more than a year
CAT National President BC Bhartia and National General Secretary Praveen Khandelwal said that currency notes are most likely to spread very quickly of any type of bacteria or virus such as COVID. In view of this, CAT has been trying to get the government’s ministers and other authorities to take an explanation for the last one year. This is the first time after raising this issue many times since last year, when the RBI has given the answer after taking cognizance of it, but indirectly.
However, in its response, the RBI has not even denied it, indicating that viruses and bacteria are spread through currency notes and that is why the RBI has suggested maximum use of digital payments to avoid currency payments. .
Incentive scheme should be brought to increase digital payment
Bhartia and Khandelwal have urged the Union Finance Minister that the government should announce an incentive scheme to encourage digital payments more and more in the country so that more and more businessmen and others would rather use cash in their everyday activities Use digital payment systems.
Other steps are necessary to reduce the use of cash in the country. Bank charges should be abolished on digital transactions and subsidized directly to banks in lieu of bank fee amount. Such subsidy will not allow the government to bear the financial burden as it will reduce the expenditure on printing banknotes and allow more and more digital payments to be adopted in the country.