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

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

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

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

RBI mandates banks to offer beneficiary account name look-up facility for RTGS and NEFT transactions by April 1, 2025.

The Reserve Bank of India (RBI) is set to roll out a significant update for the National Electronic Funds Transfer (NEFT) and ...

Based on the account number and IFSC code, the customer will be able to fetch the beneficiary's account name from the bank's ...

Mumbai: A 75-year-old businessman lost Rs 1.02 lakh in a scam involving fake bookings for Mahakumbh Mela cottages and flights ...

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 ...

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