RBI made a big change in the rules of online transactions, now transfer money up to Rs 5 lakh

New Delhi: Reserve Bank of India has made a big announcement for the general public today. If you also use IMPS service, then now you will be able to do transactions up to Rs 5 lakh in a day. Let us tell you that earlier this limit was Rs 2 lakh, which has been increased by RBI to 5 lakh today. Government’s IMPS service is very beneficial. With the help of this service, you can transfer money anywhere. Apart from IMPS, the facility of NEFT and RTGS is also given to the customers.

Money can be transferred anytime in 24 hours
If you transfer funds through IMPS, then you do not have to pay any fee for this. Apart from this, you can send money any time in 24 hours. That is, there is no time restriction.

Mobile banking is a must
You must have a smartphone to use this service. Apart from this, you should also have mobile banking with you. Without mobile banking you will not be able to transfer money. Apart from this, while transferring money, you will have to give full detailed information about whomever you want to send.

What is IMPS?
There are three types of facilities are provided by the Reserve Bank to transfer money. This includes IMPS, NEFT, RTGS. You can use this service 24 hours a day, 7 days a week.

Credit policy announced
The Reserve Bank of India has announced the results of the monetary review policy, in which the RBI governor has kept interest rates stable for the 8th time in a row. RBI Governor Shaktikanta Das said that this quarter also the repo rate will remain stable at 4 percent and the reverse repo rate rate will remain unchanged at 3.55 percent. Marginal Standing Facility Rate (MSFR) and Bank Rate will be 4.25 percent. The 6-member Monetary Policy Committee (MPC) has released the interest rates today after a three-day meeting.

Read also:

RBI Monetary Policy: Your EMI will not change, Reserve Bank has not made any change in Repo Rate and Reverse Repo Rate

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