RBI Rules: The Reserve Bank of India (RBI) has revised the rules for domestic money transfers (DMT)—sending money from one bank account to another. The changes will take effect on November 11, 2026. Under the new rules, anyone can transfer up to Rs 50,000 to another bank account without visiting a branch or being an existing customer of the bank. Transfers can be made through a bank’s cash pay-in facility and NEFT. Money transfers will also be available through Business Correspondents (BCs) and ATMs, though the limits differ by channel.
The RBI has issued new guidelines to bring existing domestic money transfer regulations together and make them simpler. The changes are intended to expand banking access for people who lack the required identity or address documents, particularly laborers and migrant workers employed in other cities.
You can send Rs 50,000 by visiting a bank branch
Under the new RBI rules, anyone can visit a bank branch and use the cash pay-in service to transfer up to Rs 50,000 at a time to another person’s bank account through NEFT. As a result, the sender no longer needs to be a regular customer of that bank.
People without bank accounts can also receive money
The RBI has also set out rules for people who do not have a bank account. Banks may provide them with cash by transferring funds from a customer’s account. This service can be accessed through ATMs, Business Correspondents, or other authorized payment channels. Known as the Cash Pay-Out Service, it allows a maximum cash withdrawal of Rs 10,000 per transaction, with a monthly limit of Rs 25,000 per person.