The Reserve Bank of India has made many big announcements on April 5. One of these is an announcement related to your cash, with the help of which you will find it very easy in the future. Read what this is.
The decisions taken in the first credit policy meeting of the business year 2025 have been announced on April 5. Reserve Bank of India (RBI) Governor Shaktikanta Das announced that the facility of cash deposit will also be brought to the customers through UPI i.e. Unified Payments Interface. Under this facility, cash deposit facility will be available in ATM machine through UPI. If you understand in simple language, you will be able to deposit cash through UPI also. Meanwhile, the big question is how you can deposit cash through UPI. Know further its step-by-step process.
This is how cash will be deposited through UPI (How To Deposit Money By UPI)
- To deposit cash through UPI, you will have to go to the UPI cash deposit machine.
- Go to the UPI section of the cash deposit machine and click.
- As soon as you click it, a QR code will be displayed in the machine.
- Now open the UPI scanner in your mobile.
- Scan the QR code of the cash deposit machine with the help of the scanner.
- As soon as you scan the QR code, all your details will be visible.
- As soon as the cash is inserted, the machine will verify the cash.
- Finally, once the verification details are OK, your cash will be deposited.
- There is going to be a big change in your UPI payment, RBI Governor Shakti Dansa announced
Two big advantages
Starting the facility of cash deposit through UPI will not only provide a lot of convenience to the customers, but it will also make currency handling efficient for the banks. It will become much easier for both customers and banks.
Third party app approved
It is known that the RBI Governor also said that third party apps will be approved for the unified payment interface. This will also provide the facility to make UPI payment through prepaid payment instrument i.e. PPI wallets. TRAPs will be approved for UPI payment through PPI. RBI will also announce a mobile app to increase participation under the Retail Direct Scheme in the Government Securities Market.
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