Salary, EMIs and other payments’ rule to change from August 1. Check details

Here’s everything you need to know about a key rule change that will impact salary, EMI and other important payments from August 1.

The Reserve Bank of India (RBI) has introduced new rules, as per which the salaries will also be credited on Sundays and gazetted holidays. The RBI has declared that the bulk payment system National Automated Clearing House (NACH) will be functional all days of the week, starting from August 1, 2021. RBI governor Shaktikanta Das announced that this measure aims at enhancing consumer convenience. This step will help in bringing the processing duration shorter for salary credits, bill payments, insurance premiums and loan EMIs, which usually get delayed due to holidays.