Do you pay someone by cheque? By the way, let me know that if you want the new rule of RBI, otherwise now you will have to pay penalty.

Do you pay someone by cheque? By the way, let me know that if you want the new rule of RBI, otherwise now you will have to pay a penalty.

If you make a check payable to someone, then now you have to be careful, If you also pay by cheque. That is, if you pay by check, then now you will need to be more careful than before. Actually, the Reserve Bank of India (RBI) has made a lot of changes in the rules of banking that came into force from August 1. In such a situation, the Central Bank (RBI) has also decided to provide 24-hour clearing facilities from now on. From this month the National Automated Clearing House (NACH) is working 24 hours a day.

For information, let us tell you that the national automatic settlement system in the country ie National Automatic Clearing House System, NACH. Will be available with you 2 days and 24 hours a week. Along with its benefits, you will need to be more careful. Now you will have to be more alert in case of paying by check and MA. So let's know about the new rule.

There should be a balance in the account at all times - Let us tell you for information that under the new rule, now the bank. Even on the day of the holiday. For checks. Will be done. In such a situation, it is necessary to have a minimum balance in your account at all times. Therefore, before issuing the cheque, make sure that a sufficient amount is available in the bank account or not. As the check will bounce. In such a situation, you may have to pay a lot of penalty charges if the check bounces.

EMI instalment will also be affected- Let us tell you that if you are paying by check, then you have to take the same caution regarding EMI Automated Insurance Premium. SIP also, Because if the due date of cutting them can also fall on the day of Bank Holiday. In such a situation, it is necessary to have a sufficient balance in your account.

What is NACH?- The matches are conducted by the National Payments Corporation of India ie NPCI. A Bulk Payment System facilitates such credit signatures as payment of dividend, interest, salary and pension. Like paying gas bills. Make water bill payments, pay periodic instalments, invest in mutual funds, as well as balance insurance premiums.