Here is Latest Banking News on Transfer Funds Online Allowed by RBI Through RRBs and Cooperative Banks
The RBI allowed RRBs (Regional Rural Banks) and Co-operative banks can now transfer funds electronically (online) through Real time Gross Settlement System (RTGS) and National Electronic Funds Transfer (NEFT).
On April 9, 2012 the Reserve Bank of India permitted Regional Rural Banks and Co-operative banks to participate in the centralized payments systems.
With this, from now the Regional Rural Banks (RRBs) and Co-operative banks can able to transfer funds online.
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