RBI Governor Shaktikanta Das has proposed allowing third-party UPI apps to facilitate payments and cash deposits at Cash Deposit Machines (CDMs) during the central bank’s first bi-monthly committee meeting for FY24–25.
Speaking at the RBI MPC meeting for 2024, Das stated, “Cash deposits through CDMs are currently predominantly done via debit cards. Building on the success of cardless cash withdrawals through UPI at ATMs, we now propose to enable cash deposits at CDMs using UPI.”
