RBI New Rule: Before giving bank cheque, now definitely know the new rule of RBI. NACH services will now be available seven days a week. At present, its facilities are available only when banks are open.
New Delhi: RBI New Rule: If you pay from you then there is very important news for you. Now before giving a check to any person or institution, definitely know the new rules of RBI. Actually, the Reserve Bank of India (RBI) has made a big change in the banking rules from August 1. RBI has decided to keep the National Automated Clearing House (NACH) operational 24 hours a day. This new rule will also be applicable in all nationalized and private banks.Also Read: Train ticket booking made easy with IRCTC iPay, refund will be given immediately on cancellation, know the way here
Know these rules before giving check
Under this new rule, now your check will be cleared even on a holiday. But in such a situation, now you also need to be cautious. This is because now the check issued on Saturday can be cleared on Sunday also. That is, you have to keep a balance in your account at all times for the clearance of the check, otherwise if your check bounces then you may face penalty. Earlier, while issuing the check, the customer felt that it would be cleared only after the holiday. But now it can be cleared even on holidays.Also Read: Niva Bupa Health Insurance launches Personal Accident Policy, coverage up to Rs 10 crore
Salary, pension, EMI payment facility even on weekends
Let us tell you that NACH is a bulk payment system which is operated by 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. Meaning now you will not have to wait for Monday to Friday i.e. Week Days to get all these facilities, these work will be done in Weekends also.
