The RBI (Domestic Money Transfer) Directions, 2026 took effect immediately on November 11, 2026, establishing clear guidelines for small-value remittances through banking channels and authorized agents. The framework permits account holders to send money to unbanked individuals, while also enabling cash-to-account transfers through automated teller machines, business correspondents, and bank branches. Furthermore, participating institutions are mandated to align with cash deposit rules under the Income-Tax Act, 2025, and implement appropriate grievance redressal mechanisms for customer disputes.
Key points
Remitting banks are required to identify cash-based transfers in IMPS or NEFT messages by…: Remitting banks are required to identify cash-based transfers in IMPS or NEFT messages by including remitter information and recording beneficiary details.
Participating banks and non-banks must report suspicious transactions and maintain compli…: Participating banks and non-banks must report suspicious transactions and maintain compliance with cash deposit rules under the Income-Tax Act, 2025.
Institutions are allowed to charge reasonable service fees and must maintain formal custo…: Institutions are allowed to charge reasonable service fees and must maintain formal customer grievance redressal mechanisms.
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The Reserve Bank of India (RBI) has issued a fresh set of directions for domestic money transfers, bringing together the existing rules governing small-value fund transfers through banking channels.
The new rules focus on how customers can send money through banks and authorised agents, including cash-based remittances. The RBI rules also explain how cash payout transfers and cash pay-in transfers can be made and what are their limits.
The RBI's new directions can be useful for people who don't have a bank account but want to send money. Such account holders can be migrant workers and other people who want to transfer money to family members in different parts of India.
The new RBI (Domestic Money Transfer) Directions, 2026, issued on November 11, 2026, came into effect immediately.
How much money can be transferred from a bank account through the RBI's cash pay-out service?
Under the cash pay-out service, a maximum of Rs 10,000 can be transferred in one transaction, subject to a monthly limit of Rs 25,000 per beneficiary.
The recipient can collect money in cash through an automated…
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