The Reserve Bank has advised staying away from notes (cash) to prevent coronavirus. The Reserve Bank made it clear on Monday that there is no way to protect the notes from infection. People will have to avoid contact with the notes themselves. Digital transactions are the best way. The World Health Organization has issued advisories to central banks around the world after the coronavirus outbreak from banknotes in China, Italy, and Japan. It has also been taken seriously by the Reserve Bank. The central bank has asked all banks to motivate the public for non-cash digital payment options. Digital payments from households are the only better option through online channels like mobile banking, internet banking, cards, etc., to avoid going to public places as per efforts to prevent this epidemic. This can avoid touching the cash again and again.
Infection from notes to hands
The report of the Institute of Genomics and Integrative Biology has also mentioned the severe diseases arising out of currency notes. The report says that with cash transactions, viruses are transferring from one place to another and from one person to another. 86.4 percent of the notes were found infected in the 120 currency notes. These notes were collected from every section of the society.
It is possible to reduce the use of cash
It may not be possible to make a complete distance from cash, but its use can be reduced. Use some money where there is no scope for digital payments. In distress, retail purchases will have to be made in cash, but big payments such as children's fees, payment of all kinds of bills, digital payments should be used for big purchases. The notes are also prone to virus outbreaks. Coronavirus can remain active on the surface for several days. In such a situation, people are at considerable risk of getting infected. So digital transactions are also beneficial in this sense. Reserve Bank NEFT, IMPS, UPI, and BBPs, are available round the clock to facilitate fund transfer, purchase of goods and services, payment of bills, etc.
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