Browsing Tag

RTGS

1 post
The Reserve Bank of India mandated the incorporation of an FCRA-related transaction code in NEFT and RTGS systems.

The Reserve Bank of India mandated the incorporation of an FCRA-related transaction code in NEFT and RTGS systems.

The Reserve Bank of India has recently issued a circular dated 16th February 2023, announcing the introduction of a Foreign Contribution (Regulation) Act (FCRA) related transaction code in the NEFT and RTGS systems. This move is aimed at strengthening the transparency and accountability of transactions related to foreign contributions.
Read More