No bank account needed for payments via RTGS, NEFT now; here is how you will benefit
Good news for those who use online banking modes like the RTGS and NEFT for making payments. RBI has increased the ambit of the RTGS and NEFT payment modes to non-bank entities payment space including Prepaid Payment Instrument (PPI) issuers, Card Networks, White Label ATM (WLA) operators, Trade Receivables Discounting System (TReDS) platforms)
The inclusion of non-banks for RTGS and NEFT payments will be done in a phased manner, RBI Governor Shaktikanta Das has said during his Monetary Policy speech