Employee salary can be credited even on Sundays and holidays! - Existing system was changed by RBI
Posted on: 24/Jul/2021 1:42:46 PM
As per the prevailing working system in India, it is not possible to do important financial transactions through the banks on Sundays and holidays. Especially, the monthly salaries of the employees working in various organisations cannot be credited on holidays and Sundays.
Presently, some changes are being carried out in the regulations of the Reserve Bank of India (RBI). With this change, the facility to credit monthly salaries of private/public sector employees can be credited even on holidays and Sundays!
As per this, 24-hours financial transactions will be rendered possible under the system called ‘National Automated Clearing House’!
Henceforth, organisations can credit transactions in the banks even on Saturdays, Sundays, and holidays!
It is further announced that even the EMIs (Equated Monthly Instalments) for loans taken for various reasons can also be debited on Sundays and holidays.
