Mumbai: A walk-in customer can hand over up to Rs 50,000 in cash at a bank branch and send it to someone else’s bank account through the National Electronic Funds Transfer (NEFT) system. The sender can use the facility without holding an account with that bank. rbi.org.in
The Reserve Bank of India (RBI) brought existing domestic money transfer instructions together in directions issued on November 11, 2026, with immediate effect. The applicable limit depends on how the sender pays and whether the recipient gets a bank credit or collects cash.
Sending Cash
At a bank branch, the Rs 50,000 limit applies to walk-in NEFT transfers credited to the recipient’s bank account.
Banks can also let customers send cash to a bank account through a business correspondent, an ATM or another permitted channel. For these transfers, the limit is Rs 5,000 per transaction and Rs 25,000 per sender in a month. The monthly ceiling applies to the total sent through this facility.
Collecting Cash
A bank customer can send money from their account to someone who has no bank account. The recipient can collect the money in cash at an ATM, through a business correspondent or via another authorised payment channel.
The cash payout limit is Rs 10,000 per transaction and Rs 25,000 per recipient in a month. The sending bank must record the recipient’s name and address. The facility can help families who receive money from relatives working in another city and need to collect it in cash.
Identity And Fraud Checks
For cash pay-ins, the sending bank or its business correspondent must register the sender using a verified mobile number and a self-certified identity document accepted under the RBI’s Know Your Customer rules. Every transaction requires an additional authentication check.
The sending bank must include the sender’s details in the transfer message and mark it as a cash-based remittance. Banks and authorised non-bank providers must monitor transaction frequency, notify customers when money is credited and immediately investigate unusual spikes in credits to an account or group of accounts.
Providers must also alert the relevant authorities to suspicious transactions. The RBI expects transfers under the framework to go through in real time or close to it.
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