The Reserve Bank of India (RBI) has initiated measures to make it faster for overseas Indians to send money to their families back home. The central bank has released draft guidelines to improve the efficiency of international money transfers. According to the RBI, enhancing the speed, safety, and transparency of cross-border payments is one of the key goals of the G20 initiative. The proposed framework aims to align India’s remittance systems with G20 objectives by improving overall operational efficiency. The RBI has invited feedback and suggestions from banks by November 19, 2025, on how to make inward remittances from abroad quicker, more transparent, and more accessible. The central bank noted that several factors affect the speed of money transfers — especially the time taken from when the funds are received by the beneficiary’s bank to when they are credited to the beneficiary’s account.To address this, the RBI has suggested streamlining internal banking procedures, improving payment information accuracy, and ensuring timely communication of fund credit to the beneficiary’s account. The move is expected to significantly enhance India’s global remittance ecosystem and benefit millions of Non-Resident Indians (NRIs) who regularly send money to their families.
