Coronavirus crisis | CMS partner with banks to deliver cash at home

Cash

Cash and payments solutions firm CMS will be offering doorstep cash delivery to senior citizens and disabled people in the wake of the outbreak of corononavirus followed by nationwide lockdown. Due to the 21 days lockdown announced by Prime Minister Narendra Modi as a measure to put a check on the rapid spread of the pandemic elderly are facing problem in going out and buying the essentials.

Cash

Due to the lockdown, day-to-day lives of people are severely hampered and caused inconvenience, especially to senior citizens and the differently-abled. In a bid to help them avoid stepping out for cash, CMS has joined hands with leading banks for delivering cash free of cost, reported The Economic Times (ET).

The initiative will also be helping in tackling the situation where people are queuing up outside banks and ATMs, voiding the purposes of social distancing.

Anush Raghvan, senior VP at CMS Infosystem, has told ET that the firm is planning to deploy its 20,000-strong field staff across the country for the cash delivery service. “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,” Raghvan said.

The company is already in talks with leading private banks like ICICI Bank, IDFC Bank, Yes Bank, Utkarsh Small Finance Bank, alongside public-sector banks like State Bank of India, Bank of Baroda, etc.

The Reserve Bank of India (RBI), in its March 31 circular, said that the banks would be offering doorstep services across the country. “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”, the circular read.

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