The Royal Monetary Authority set up round the clock crisis management command centre to provide uninterrupted delivery of essential digital financial services during this nationwide lockdown. The centre is working in coordination with the country’s financial service providers.
With the banks providing internet and mobile banking services, people are able to access financial services and resolve their queries digitally, despite the lockdown.
In the first two days of nationwide lockdown, the Central Bank received 115 financial and non-financial queries from across the country. Similarly, financial institutions recorded 860 queries at the same time. The queries are related to the Internet and mobile banking, failed remittance, insurance and loans among others.
Close to Nu 0.5 M domestic digital payments were also made in the first two days of national lockdown. The RMA is urging people to make use of digital services for payments and transactions to minimise the risk of COVID-19 transmission.
The digital transaction has been picking up in the country in the past years. And this year, due to the COVID-19 situation, the trend recorded a significant increase within the first half. The average monthly transactions increased to Nu 4.9 M compared to Nu 3.1 M, last year.
Sherub Dorji
