The Reserve Bank of India has asked bank-operated Financial Literacy Centers, FLCs and rural branches to organize special camps starting from April 1 to educate public about digital payments through Unified Payments Interface, UPI and Unstructured Supplementary Service Data-based,USSD, "*99#" service code platforms. The camps will be conducted for one year. <br/><br/>The RBI said that the policy on conducting such camps has been revised given the recent developments after demonetarization and focus on going digital. AIR correspondent reports that the Unified Payments Interface or the UPI through which the RBI wishes to encourage the payment during the camps, is a system that powers multiple bank accounts into a single mobile application. While the *99# USSD is a telecom service for fund transfer that works without internet. <br/><br/>Besides these special camps, RBI said FLCs will continue to conduct the tailored camps for five target groups like farmers, small entrepreneurs, school children, senior citizens and Self Help Groups. Furthermore, banks are henceforth required to conduct only one camp per month on the third Friday of each month after branch hours.

The Reserve Bank of India today asked banks to organize special camps from April 1 to educate public about digital payments through UPI and 99# (USSD) code platforms. It said that the policy on conduct of camps by FLCs (Financial Literacy Centers) and rural branches of the banks has been revised given the recent developments after demonetarization.<br/><br/> Unified Payments Interface (UPI) is a system that powers multiple bank accounts into a single mobile application. The USSD service for fund transfer works without internet. Besides the special camps on going digital, RBI said FLCs will continue to conduct the tailored camps for the different target groups.<br/>Further, rural branches of banks are henceforth required to conduct only one camp per month on the third Friday of each month after branch hours. FLCs and rural branches of banks can get support for the financial literacy camps to the extent of 60 per cent of the expenditure with a cap at Rs 15,000/per camp. ''''<br/>''<br/>