The Reserve Bank of India issued the Reserve Bank of India (Domestic Money Transfer) Directions, 2026 on 11 November 2026. A walk-in customer at a bank branch can remit funds up to Rs 50,000 to the bank account of a beneficiary through NEFT. The RBI issued the Directions in exercise of the powers conferred by Section 18 read with Section 10(2) of the Payment and Settlement Systems Act, 2007. The Directions take effect immediately.
Banks may allow walk-in customers to transfer funds to a beneficiary's bank account through Business Correspondents and ATMs up to a maximum of Rs 5,000 per transaction, with a monthly cap of Rs 25,000 per remitter. On the outbound leg, the maximum amount that may be transferred under the Cash Pay-out Service is Rs 10,000 per transaction, subject to an overall monthly ceiling of Rs 25,000 per beneficiary.
The Directions repeal the RBI's circular of 5 October 2011 on domestic money transfer relaxations and its circular of 24 July 2024 on the review of the domestic money transfer framework. The RBI says it consolidates the extant instructions relating to Domestic Money Transfer and issues these Directions in their place, so banks running the walk-in cash pay-in channel now work from one instrument instead of the repealed circulars. Banks must apply the consolidated limits from 11 November 2026.