Strict Cash Payout Rules Imposed By RBI: KYC Compulsory For Recipients

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4 months ago

The Reserve Bank of India, RBI, tightened rules pertaining to banks’ cash payout services. The new standards require lenders to maintain a record of recipients. RBI Tightens Rules For Cash Payout Services Transferring funds from bank accounts to beneficiaries who do not have bank accounts is referred to as cash pay-out. The RBI updated the […]

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