New RBI Rules: Services of NACH will now be available seven days a week. At present, its facilities are available only when banks are open.
New Delhi: New Rule RBI: If you also pay by check, then there is important news for you. Now be careful before giving a check to any person or organization. Reserve Bank of India (RBI) has made major changes in banking rules from August 1. Therefore it is very important for you to know this new rule of the bank. RBI has decided to keep the National Automated Clearing House (NACH) operational 24 hours a day. Under this, now this rule will be applicable in all nationalized and private banks also.
Be careful before giving cheque
Under this new rule, now your cheque will be cleared even on a holiday. But in such a situation, now you also need to be cautious. This is because now the cheque 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 cheque, otherwise if your cheque bounces then penalty may be imposed. Earlier, while issuing the cheque, the customer felt that it would be cleared only after the holiday. But now it can be cleared even on a holiday.
Salary, Pension, EMI payment now 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.
