According to a news report, some banks have reported a surge in online banking transactions.
As of March 2018, internet, mobile banking and Point of Sale (PoS) transactions stood at 37% for SBI.
If SBI’s ATMs and business correspondents are also included, digital transactions go up to 80%.
Total transactions through digital channels increased by 82% in the last financial year for ICICI Bank.
Punjab National Bank (PNB) saw a steep increase in Aadhaar-based payments up to Mar 31, 2018.
The waiver of charges on Debit Card transactions below Rs. 2,000 & greater awareness has led to this increase.
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