Digital transactions spike during lockdown in Mysuru

Mysuru: The lockdown has resulted in the number of digital and online transactions in Mysuru witnessing a perceptible spurt.
In fact, Prime Minister Narendra Modi had appealed to the people to switch to online transactions and digital payment apps, which he said would serve a two-fold purpose: Ensure social distancing and avoid exchange of cash by hand.
In Mysuru, many people are making interest payments on their loans online. Basha, who pays a sum of Rs 6,000 on his home loan every month, decided to opt for the online mode for the first time. That many people in the Heritage City decided to opt for cashless transactions for such payments despite banks remaining open during the lockdown attests to fears of transmission of Covid-19 even while wearing masks, which is mandatory to enter banks.
Mysuru district lead bank manager Venkatachalapathy confirmed to TOI that the percentage of digital payments had risen during the lockdown compared to their share prior to the Covid-19 crisis. “Many bank customers have switched to digital platforms to pay bills and loans. Around 20% of the borrowers have availed moratorium for three months through digital modes,” he said.