Sending Cash Without A Bank Account, Know - When Does RBI’s ₹50,000 Limit Apply?
Mumbai: A walk-in customer can hand over up to Rs 50,000 in cash at a bank branch and send it to someone else’s bank account through the National Electronic Funds Transfer (NEFT) system. The sender can use the facility without holding an account with that bank. rbi.org.in The Reserve Bank of India (RBI) brought existing domestic money transfer instructions together in directions issued on…
Mumbai, November 11, 2026 - The Reserve Bank of India (RBI) has set a ₹50,000 limit on cash transfers via the National Electronic Funds Transfer (NEFT) system, even when the sender does not have a bank account. This limit applies when the recipient receives the funds in a bank account. Walk-in customers at a bank branch can send up to Rs 50,000 in cash to another person's bank account using NEFT.
Alternatively, customers can send cash to a bank account through business correspondents, ATMs, or other permitted channels, with a limit of Rs 5,000 per transaction and Rs 25,000 per sender per month. The limit for cash payouts when the recipient collects money in cash is Rs 10,000 per transaction and Rs 25,000 per recipient per month.
Banks must verify the sender's identity and details, as well as monitor transaction frequency to prevent fraudulent activity.
Written by urgent.news from Free Press Journal's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
