Salary on Weekends: Now you will not have to wait for the passing of Saturday and Sunday i.e. weekend for your salary, RBI has changed the rules of National Automated Clearing House (NACH). NACH facilities will be available from August 1, 2021, seven days a week.
Salary on Weekends: Now you will not have to wait for the passing of Saturday and Sunday i.e. weekend for your salary, RBI has changed the rules of National Automated Clearing House (NACH). NACH facilities will be available from August 1, 2021, seven days a week. At present, its facilities are available only when banks are open, usually between Monday to Friday, NACH facilities are available.
NACH facilities now full week
Many times it happens that the first day of the month falls on the weekend, due to which the salaried class has to wait till Monday for the credit in their salary account. In order to further enhance the convenience of the customers and to avail the 24×7 Real Time Gross Settlement (RTGS) facility, RBI Governor Shaktikanta Das announced during the Credit Policy Review today that NACH, which is currently functioning in banks Available in days, it is 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. Meaning now you will not have to wait for Week Days from Monday to Friday to get all these facilities, these work will be done in 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 days of the week.
No change in interest rates
Let us tell you that the Reserve Bank of India has not made any change in interest rates for the sixth time in a row. In view of the second wave of Corona epidemic and the condition of inflation, RBI Governor Shaktikanta Das has decided to reduce the rates of Repo Rate (4%), Reverse Repo Rate (3.35%) and Cash Reserve Ratio (CRR-4%) according to market expectations. Haven’t changed.
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