Fund transfer through Facebook is meant for tech-savvy customers.
Some private banks offer easier platform to transfer money abroad, like ICICI's Money2World.
Despite the demonetisation of 2016 and the rise in digital transactions that followed, the economy's dependence on cash has remained as high as ever. So when the Reserve Bank of India (RBI) introduced a pilot project of its version of digital cash - called the central bank digital currency (CBDC) - on December 1, many questions were asked. Can the CBDC replace physical cash, even partially? Can it match cash in terms of convenience? Are CBDC transactions truly anonymous?
The Unified Payment Interface could propel banking into a new era
In an online chat with readers, Investment Advisor Harsh Roongta answered their queries on the ban on Rs 500 and Rs 1000 notes.
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