author-image

Soumya De Mallik

Author

Partner, HSA Advocates

Latest Articles By Soumya De Mallik

Revised Framework On Domestic Money Transfer

Following this, RBI announced the revised framework on July 24, 2024[2], to be effective from November 1, 2024 (“Revised Framework”), aimed at enhancing the DMT system established in 2011. Under the Revised Framework, RBI noted that since the DMT Framework, there has been a notable increase in the number of banking outlets, advancements in payment systems for fund transfers, and ease in fulfilling of Know Your Customer (KYC) requirements.

Read More