Payments

BULK Payments Systems Will Be Available On All Days of the Week

On Friday RBI said that the Bulk payment system which comes under the National Automated Clearing House(NACH) will available on all days of the week from August 1. Till now this service is operational on only the Bank working days and it is used for recurring payments by consumers & direct subsidy transfers by the Government. In past years RBI has taken several steps to make the payments transferring facility operational on all days of the week & each hour.