Paper currency now seen as a COVID risk, former RBI man says banks should take to Whatsapp

Hyderabad: As people are hesitant to deal with paper currency due to the COVID-19 crisis, banks need to exploit various tools such as WhatsApp to push digital plans, former RBI deputy governor HR Khan said here on Friday.

He said as lockdown prompted many organisations to adopt work from home culture, human resources aspects may be tweaked to focus on outcome rather than attendance.

Covid-19 crisis provides an opportunity to revive, re-invent and move more banking products and services to the digital platforms, he said.

Customers are hesitant to deal with paper currency or visit the branch premises at this point; this would help in digital push, Khan said.