In an effort to facilitate domestic person-to-person fund transfer for migrant population who do not have access to banking facilities because of inability to meet the KYC requirements, three schemes have been rolled out: (i) cash pay out scheme; (ii) cash pay-in scheme; and (iii) card to card transfers.
The first two schemes facilitate fund transfers with a bank account either at the remitting end or at the beneficiary end. These guidelines aid the underprivileged who do not have a bank account for whatever reason, to get an access nevertheless, to the formal banking channel to send and receive remittances safely and inexpensively.