RBI Says Currency Notes Are Potential Corona Carriers: Use Of Digital Payment Mode Suggested

The Confederation of All India Traders (CAIT) on Sunday said that the RBI had affirmed the possibility of currency notes as potential carriers of novel coronavirus and demanded government incentives for digital payments.The development comes after CAIT wrote a letter to Union Finance Minister Nirmala Sithraman on March 9, 2020 seeking clarification whether or not currency notes are carriers of bacteria and viruses.However, the letter was forwarded to the Reserve Bank of India, which replied to CAIT and hinted that currency notes could be carriers of bacteria and viruses, including coronavirus, and therefore more and more usage of digital payments should be done to avoid handling of currency, the confederation said in a statement. The CAIT urged Sithraman to introduce an ‘incentive’ scheme for acceptance and adoption of digital payments.“Bank charges levied for digital transactions should be waived and the government should give subsidy directly to the banks in lieu of bank charges,” the statement said.“In due course, such subsidy will not be a financial burden on the government; on the other hand, it will minimize the expenses incurred on printing of bank notes.”