Salaries, pensions can now be credited to accounts 7 days a week

 

Starting August 1, customers can now have their salaries and pensions credited to their bank accounts seven days a week and 24 x 7.

This will help them carry on with important payments, such as EMIs and other transactions without having to wait for a bank working day. The Reserve Bank of India (RBI) has altered the rules of the National Automated Clearing House (NACH).

While earlier its facilities were available only from Monday to Friday, henceforth, it will be available throughout the week and at all times whether day or night. This move will be of great benefit to bank customers, as they will be able to take advantage of the availability of real-time gross settlement (RTGS) at all times.

Customers will not have to wait for a working day any more.

 

From the News Room of Dayanand N. Mangaonkar