The National Payments Corporation of India (NPCI) plans to launch a new cash withdrawal system using QR codes, pending Reserve Bank of India approval. Users can withdraw cash at registered shops by scanning a QR code with UPI apps like PhonePe and Google Pay. This initiative aims to facilitate cash access for over 20 lakh Business Correspondents, bridging banking gaps in rural areas and supporting the Digital India mission, making services more accessible nationwide.
The National Payments Corporation of India (NPCI) plans to launch a new cash withdrawal system using QR codes, pending Reserve Bank of India approval. Users can withdraw cash at registered shops by scanning a QR code with UPI apps like PhonePe and Google Pay. This initiative aims to facilitate cash access for over 20 lakh Business Correspondents, bridging banking gaps in rural areas and supporting the Digital India mission, making services more accessible nationwide.