Tag: financial inclusion India
Photo: File Photo/IANSNew RBI Money Transfer Rules Explained: Cash Limits, Customer Verification and Transaction Guidelines
New Delhi: The Reserve Bank of India (RBI) has consolidated rules governing domestic money transfers, which state that individuals at a bank branch can transfer up to Rs 50,000 in cash to another person’s bank account through the National Electronic Funds Transfer (NEFT) system, without maintaining an account with the bank. The framework also specifies…
