New rules for money transfers through bank branches
Mumbai: The RBI has facilitated small money transfers between individuals through banks in the country. In this regard, it has issued special orders named RBI (Domestic Money Transfer) Orders, 2026. The RBI said that these orders have come into effect from Wednesday. However, the RBI has clarified that money transfers made through card to card do not fall under the ambit of these orders. It is expected that these orders will be very useful for migrant laborers and workers.
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