RBI DMT guidelines will allow people without a bank account to send up to ₹50,000 to another person’s bank account through NEFT at a bank branch, while new limits will regulate cash payouts, according to a report by Aaj Tak Business.
The reported guidelines bring together the Reserve Bank of India’s rules for Domestic Money Transfer (DMT), a facility used to send money to another individual. Under the new arrangement, a person visiting a bank branch will not need to hold an account with the bank to transfer money through the National Electronic Funds Transfer system.
The sender can deposit the money at the branch and direct it to the bank account of another person, including a relative or other intended recipient. The maximum amount that can be transferred through this route is ₹50,000, the report said.
The change is significant for people who rely on branch-based services rather than account-linked digital banking. Such users may include workers who receive wages in cash, migrants sending money to families in other locations, and residents who use formal banking services without maintaining their own account. The supplied report does not provide a separate estimate of how many people will be covered by the arrangement.
The RBI’s reported framework also sets limits for cash payouts. A maximum of ₹10,000 can be paid out in a single transaction, while the monthly limit for cash payouts is ₹25,000. These ceilings are intended to govern cash-based money transfers alongside the facility for sending funds directly to a bank account.
The rules therefore distinguish between two different uses of the DMT system. A person without a bank account can send as much as ₹50,000 to another person’s bank account through NEFT, but cash withdrawals or payouts under the arrangement will be subject to lower transaction and monthly limits.
The reported guidelines seek to make money transfers easier while also improving safeguards around cash payments. For customers, the practical process will involve visiting a bank branch and providing the information required for the transfer. The supplied report does not specify the complete documentation, identification, or compliance procedure that banks and customers will have to follow under the new framework.
The announcement places bank branches in an important position in the delivery of formal remittance services for people outside the conventional account-based banking system. It also reflects the need to balance access with controls when money is transferred or paid out in cash. The RBI’s stated objective, as reported by Aaj Tak Business, is to simplify money transfers and cash payments while making them more secure.
The ₹50,000 NEFT ceiling and the ₹10,000 per-transaction and ₹25,000 monthly cash-payout limits are the key operational figures currently available from the report. Further details on implementation, customer verification, and the date from which banks must apply the consolidated guidelines were not provided in the supplied material.
