The RBI is launching a beneficiary account name look-up feature for RTGS and NEFT systems to prevent incorrect fund transfers ...

There have been many instances where remitters remitted funds to the wrong beneficiary. This new rule will help to limit the ...

The Income Tax (IT) Department has warned against excessive cash transactions and violations would trigger heavy penalties ...

The RBI has mandated that financial institutions offering RTGS and NEFT services adopt a beneficiary account name ...

The Reserve Bank of India has announced a new initiative to introduce a beneficiary account name look-up facility for RTGS ...

By April 2025, banks must provide a facility to verify beneficiary account names during NEFT and RTGS transactions, as ...

The Reserve Bank of India will introduce a name look-up facility for RTGS and NEFT systems by April 1, 2025. This will allow ...

The Reserve Bank of India (RBI) has asked the National Payments Corporation of India (NPCI) to develop a facility to allow ...

RBI mandates banks to provide beneficiary account name verification facility for NEFT & RTGS transactions by April 1, 2025, ...

The Delhi High Court has urged the RBI to fast-track the implementation of a system that verifies the beneficiary's name for ...

This facility will allow users to view and verify the name of the beneficiary before initiating a transaction, similar to the ...