NACH rules News

NACH helps in facilitating credit transfers such as payment of dividends, interest, salary and pension. Currently, this facility of crediting salary is operational on working days of banks and therefore, the auto-debits are not allowed on bank holidays, gazetted holidays and even Sundays. Recently, RBI Governor Shaktikanta Das had announced several key financial, economic measures amid the pandemic.

The Reserve Bank of India has come up with new guidelines and further changed the rules of the National Automated Clearing House (NACH). The new NACH rules showed that the payments such as salary and pensions can be transferred on weekends which is not possible now as it is only available when the banks are open. Recently, RBI Governor Shaktikanta Das had announced several key financial, economic measures amid the pandemic.