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In a move to further enhance the digital payments ecosystem in the country, the Reserve Bank of India (RBI) proposed to introduce a framework for carrying out retail digital payments in offline mode across the country, on October 8.

The move simply refers to the introduction of a facility where digital transactions could be carried out even in situations where the internet connectivity is low or not available viz. offline mode.

Governor of RBI Shaktikanta Das said that a pilot project based on this innovative technology facilitating digital payments in offline mode has been successful. Learnings from the pilot indicate that there is a scope to introduce such solutions, especially in remote areas. Das said this in a virtual address after the MPC meeting.

As per a statement from the apex bank on Developmental and Regulatory Policies dated August 6, 2020, the bank has announced a scheme to conduct pilot tests of innovative technology that enables retail digital payments in situations where the internet connectivity is low or not available.

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The RBI has carried out three successful trials in different parts of the country under the scheme from September 2020 to June 2021. These trials involved small-value transactions covering a volume of 2.41 lakh for the value Rs 1.16 crore. Based on the takeaways from the pilots and the encouraging feedback, the apex bank has now proposed to launch a framework for carrying out retail digital payments in offline mode across the country.

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