RBI Moves to Speed Up Foreign Remittances for Indians Abroad
Now money sent from overseas will reach beneficiaries’ bank accounts in India within hours, as RBI aims to match global payment standards
Oct 31, 2025 - There is great relief for millions of Indians working abroad. Now they will no longer have to wait for hours or even days for money to reach their families. The Reserve Bank of India (RBI) has issued a new proposal under which money sent from abroad will be credited to the beneficiaries’ accounts in India faster and more easily than before.
This move aims to bring India’s banking system up to global payment standards. As part of its Payments Vision 2025 and the G20 Roadmap, the RBI has released this draft guideline. It says that banks receiving payments from abroad must credit the funds to customers’ accounts on the same business day if the money is received during foreign exchange market hours. If the funds arrive after market hours, they must be transferred on the next working day.
Currently, in India, only about 8–10% of foreign remittances reach beneficiaries’ accounts within an hour, while in countries like the United States, this figure is around 75%. With this step, India’s payment system is expected to become faster and more reliable at the international level.
Source: Media Reports
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