What is the maximum cash NEFT limit for non-account holders at bank branches?

Question

Reserve Bank of India prescribes a maximum of ₹50,000 per transaction for cash-based NEFT remittances by non-account holders. This limit was set to manage operational risks. NEFT (National Electronic Funds Transfer) is regulated by RBI under Notification DPSS (CO) EPPD No. 654 / 04.03.01 / 2010-11, revised periodically. The ₹50,000 limit per transaction for such cases is current as of 2024.

GKToday Admin · Accepted Answer

₹50,000 Reserve Bank of India prescribes a maximum of ₹50,000 per transaction for cash-based NEFT remittances by non-account holders. This limit was set to manage operational risks. NEFT (National Electronic Funds Transfer) is regulated by RBI under Notification DPSS (CO) EPPD No. 654 / 04.03.01 / 2010-11, revised periodically. The ₹50,000 limit per transaction for such cases is current as of 2024.

Current Affairs

Daily MCQs

Monthly MCQs

Topic Wise CA MCQs

CA MCQs in Other Languages

GK MCQs Section

SSC/RRB/States Level MCQs