{
  "id": 19613765,
  "title": "RBI issues new domestic money transfer rules",
  "url": "https://urgent.news/2026/11/12/rbi-issues-new-domestic-money-transfer-rules",
  "topic": "business",
  "section": "Business",
  "published": "2026-11-12T05:49:28.000Z",
  "source": {
    "name": "The Economic Times",
    "slug": "the-economic-times",
    "url": "https://economictimes.indiatimes.com/wealth/invest/rbi-issues-new-domestic-money-transfer-rules-sets-rs-10000-per-transaction-limit-for-cash-payout-who-can-benefit-from-these-directions/articleshow/135757129.cms"
  },
  "original_language": "en",
  "account": "The Reserve Bank of India (RBI) has recently issued new guidelines for domestic money transfers, consolidating existing rules for small-value fund transfers via banking channels. These new rules govern how customers can send money through banks and authorized agents, including cash-based remittances.\n\nThe RBI's new directions provide clarity on cash payout and cash pay-in transfers, outlining their respective limits. For instance, a maximum of Rs 10,000 can be transferred in a single transaction through the cash pay-out service, with a monthly limit of Rs 25,000 per beneficiary.\n\nInterestingly, banks can transfer money to individuals without bank accounts, allowing them to collect cash at ATMs, Business Correspondents (BCs), or other authorized payment channels. The bank sending the money must record and maintain the beneficiary's name and address.\n\nWalk-in customers at a bank branch can credit up to Rs 50,000 to the beneficiary's bank account through NEFT. Banks and BCs are permitted to allow such customers to transfer funds up to Rs 5,000 per transaction, with a monthly cap of Rs 25,000 per remitter.\n\nTo prevent misuse, banks and non-banks must implement safeguards, such as limiting transaction frequencies and alerting customers when funds are credited to their accounts. Any suspicious transactions must be reported to the relevant authorities. Inter-bank settlement of funds will be governed by RBI-approved payment systems, and banks may charge reasonable fees for domestic money transfer services.\n\nThe new rules apply to all scheduled commercial banks, including RRBs, urban co-operative banks, state co-operative banks, district central co-operative banks, and authorized payment system operators. Fund transfers under these directives will occur in real-time or as close to real-time as possible. Customers can raise complaints about domestic money transfer services through the respective banks or non-banks, which must have systems in place for addressing such grievances.",
  "summary": null,
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 2,
    "also_reported_by": [
      {
        "outlet": "Business Standard IN",
        "title": "RBI consolidates money transfer rules, allows ₹50,000 cash NEFT transfers",
        "url": "https://urgent.news/2026/11/11/rbi-consolidates-money-transfer-rules-allows-50-000-cash-neft",
        "published": "2026-11-11T16:11:21.000Z"
      }
    ]
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}