Paperless Branches in India: If RBI’s suggestion is implemented by the big banks of the country, then the day is not far when you will get fully digitized work by visiting the bank branch. For this, RBI has taken a big initiative.
Big Update Paperless Branches in India: Big and important news is coming for all bank account holders. After implementing the suggestion given by Reserve Bank of India, the way of working of all banks will change. With the implementation of the new rule, the bank employees as well as the customers of the bank will be affected the most. Yes, it has been said by RBI that banks and other financial institutions can consider giving e-receipt of ATM at ATMs along with completely eliminating the use of paper in their branches.
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Comprehensive guidelines will be prepared
This suggestion was made by the Reserve Bank of India (RBI) on Wednesday (July 27). The Reserve Bank said in a discussion paper on ‘Climate Risk and Sustainable Finance’ that it wants to formulate a strategy based on best practices to reduce the adverse effects of climate change. For this, the central bank is taking advantage of the experience of global bodies and other international fora. In this sequence, comprehensive guidelines will be prepared for all Reserve Bank Regulated Entities (RE).
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The discussion paper on converting branches to green branches
said that a strategy would be prepared to effectively manage the risks of climate change. “RE may consider converting its branches to green branches by eliminating the use of paper in their operations by making banking processes more eco-friendly,” it said. However, experts say that it will not be easy for banks to make this change. Due to this, the maximum problem will come out in the branch of rural area.
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Comments on the discussion paper have been invited by RBI till 30th September. Accordingly, REs may consider ways and means to encourage e-receipts. It was also suggested that the Indian Banks’ Association (RBA) may set up a working group on climate risk and capacity building in the area of sustainable finance.
