India, Nov. 12 -- The Reserve Bank of India (RBI), under its domestic money transfer directions 2026, has specified instructions for customers without a bank account who want to send and receive funds.

The directions will apply to all scheduled commercial banks, including regional rural banks (RRBs) and urban and state cooperative banks, as well as district central cooperative banks. They will also cover authorised payment system operators and participants, wherever applicable to domestic money transfer services.

The cash pay-out service allows customers without a bank account to receive money.

Under this service, RBI has permitted banks to allow customers to transfer money from their accounts to recipients who do not have bank account...