Amid coronavirus outbreak to take care of the cash withdrawal needs, after RBI's guidelines CMS, a cash and payments solution provider will provide free doorstep delivery of cash to senior citizens as well as disabled. This is with a view to abide by social distancing norms so as to avoid community spread of the highly contagious infection.
Also, the company is entering into a tie-up with several top banks for providing the service.
People are queueing up to withdraw the money from their accounts beating the purpose of social distancing. Our initiative will address this," said Anush Raghvan, senior vice-president at CMS Infosystem. "To start with our service will be amount agnostic. This service will be immensely helpful at such critical times and also help people withdraw their DBT benefits."
To offer this service, CMS will engage its network of 20,000 field workforce.
The firm is already in advanced stage of discussion with ICICI Bank, IDFC Bank, Yes Bank, Utkarsh Small Finance Bank , besides public sector leaders like the State Bank of India, Bank of Baroda, according to Raghvan. " Many have expressed their intent and are working on internal approvals " he said.
In a circular released on March 31, RBI stressed on providing doorstep banking to its customers primarily senior citizens as the country has been under 21-days lockdown due to Covid 19.
"Banks should develop a Board approved framework for determining the nature of branches/centres where these services will be provided mandatorily and those where it will be provided on a best effort basis and make the policy public. The list of branches offering such doorstep banking services shall be displayed/updated on the bank's website regularly", said the release.