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HomeUncategorizedFed up of maintaining a minimum balance in your bank account? Check...

Fed up of maintaining a minimum balance in your bank account? Check here for the alternative

New Delhi: One of the most frustrating thing for most of the bank holders is to maintain the minimum balance in their bank accounts failing which an additional charge is being applied, which pinches later on when the amount is deducted.

Also read: Covid-19 Scare: Section 144 CrPC imposed in Dhubri

A regular story of many. With the revamping of the digital payments and a push by the Reserve Bank of India announcing boost to digital payment infrastructure in the country, encouraging more people to use prepaid payment instruments (PPIs) like mobile wallets.

Also read: There will be 1.1 million covid cases by April end if action not taken: Health Department

But why is the central bank focusing on encouraging usage of e-wallets or mobile wallets? For starters, mobile or e-wallets are easy to operate and the enrolling process is easier than opening a bank account. Unlike banks, there is no requirement for a minimum balance as well.


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