New Delhi: In a major move aimed at boosting financial inclusion, the Reserve Bank of India (RBI) has overhauled its Domestic Money Transfer (DMT) guidelines. The newly revised rules, which officially came into effect on November 11, 2026, allow individuals to send and receive funds seamlessly, even if they do not possess a formal bank account.
According to the central bank’s latest directives, the primary objective of this regulatory shift is to provide secure banking facilities to individuals who lack mandatory identity or address proof documents. This regulatory initiative is expected to bring substantial financial relief to migrant labourers, daily wage earners, and unorganised sector workers residing in different cities who frequently rely on cash remittances to support their families.
Addressing the process of sending funds, the new RBI guidelines introduce a highly flexible ‘Cash Pay-in’ service. Any individual can now walk into a bank branch and deposit cash to transfer up to Rs 50,000 to another person’s bank account in a single transaction. This transfer can be executed through the National Electronic Funds Transfer (NEFT) network. Crucially, the sender is no longer required to be a registered customer of that specific bank to utilise the transfer service.
Furthermore, the Reserve Bank of India has introduced a ‘Cash Pay-out’ service tailored specifically for the unbanked population. Under this provision, banks can facilitate the transfer of funds from a regular customer’s account to an individual who does not have a bank account, delivering the requested amount entirely in cash. Beneficiaries can securely access these cash payouts through authorised payment channels, including ATMs and designated Business Correspondents (BCs) operating across the country.
To maintain financial security and monitor domestic cash flows, the apex bank has instituted strict withdrawal limits for these transactions. As per the official notification, an unbanked beneficiary can receive a maximum of Rs 10,000 in a single transaction. Additionally, the cumulative cash pay-out limit for an individual has been securely capped at Rs 25,000 per month.
By streamlining these domestic remittance frameworks, the RBI aims to ensure that marginalised communities have secure, regulated, and hassle-free access to financial support, ultimately strengthening India’s grassroots economy.