New RBI Rules – Salary, Pension and EMI payment rules to change from August 1st’21

-

 

RBI has changed the rules of the National Automated Clearing House (NACH). These changes will come into effect from August 1, 2021. That is, now you will not have to wait for working days,for your salary or pension to be credited. You will get these services throughout the week. Services of NACH will now be available seven days a week. Currently, facilities are available only when banks are open, from Monday to Friday.

Avail NACH facilities any day -

RBI Governor Shaktikanta Das, had announced that in order to further enhance the convenience of customers and to avail the benefits of 24x7 Real Time Gross Settlement (RTGS), NACH ( Currently available on working days in banks)  proposed to be implemented on all days of the week, with effect from August 1, 2021.

Salary, Pension, EMI payment now even on weekends -

NACH is a bulk payment system operated by the National Payments Corporation of India (NPCI). Which facilitates various types of credit transfers such as dividend, interest, salary and pension. Apart from this, the facility of payment of electricity bill, gas, telephone, water, loan EMI, mutual fund investment and insurance premium payment, is also provided. In other words, you will not have to wait for Monday to Friday i.e., Week Days to get all these facilities, you can now get your transactions done on weekends also.

RBI said that NACH has emerged as a popular and prominent digital mode of Direct Benefit Transfer (DBT) for beneficiaries, which helps in timely and transparent transfer of government subsidies during the prevailing COVID-19 pandemic. Currently, NACH services are available only on days when banks are working, but from August 1, this facility will be available on all 7 days.



Comments

Post a Comment

Popular posts from this blog

Approval of the Government of India for extending the benefits of the Ayushman Bharat Pradhan Mantri Jan Arogya Yojana (AB PM-JAY) to all senior citizens aged 70 years and above.National Health Authority L.S. CHANGSAN (I.A.S.) Chief Executive Officer D. O. No. S-12018/395/2022-NHA 20th September, 2024

-
Image
  National Health Authority This is to inform you of the approval of the Government of India for extending the benefits of the Ayushman Bharat Pradhan Mantri Jan Arogya Yojana (AB PM-JAY) to all senior citizens aged 70 years and above. 2. Salient features of the approval are as below: a. The benefits of AB PM-JAY would now be available to all senior citizens of the age 70 years and above irrespective of their socio-economic status. These benefits will be available to senior citizens of 70 years and above in families already covered under AB PM-JAY (hereinafter referred to as ‘existing families’), as well as in families which are not covered under the AB PM-JAY, (hereinafter referred to as ‘new families’). b. The only eligibility criteria for availing benefits under the scheme would be attainment of age of 70 years or above by the individual. This would be determined on the basis of age recorded in Aadhaar. As per prevailing practice, Aadhaar would be the only document requi
Read more

Grant of notional increment on 1st July I 1st January to the employees who retired from Central Govt, service on 30th June / 31st December respectively for the purpose of calculating their pensionary benefits - regarding.

-
Image
  Grant of notional increment on 1st July/1st January to the employees who retired from Central Govt. service on 30th June / 31st December respectively for the purpose of calculating their pensionary benefits – Implementation Order by DoP&T O.M. dated 14.10.2024 No.19/116/2024-Pers.Pol.(Pay)(Pt) Government of India Ministry of Personnel, Public Grievances & Pensions Department of Personnel & Training North Block, New Delhi Dated the 14th October, 2024. OFFICE MEMORANDUM Subject: Grant of notional increment on 1st July/1st January to the employees who retired from Central Govt.service on 30th June / 31st December respectively for the purpose of calculating their pensionary benefits – regarding. The undersigned is directed to say that in terms of Rule 10 of the Central Civil Services (Revise Pay) Rules, 2006, notified by D/o Expenditure vide Notification No.G.S.R.622 (E) dated 29.08.2008, date of annual increment was made uniform viz. 1st July of every year with effect from 0
Read more