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

The Reserve Bank of India (RBI) has unveiled a significant step to enhance the safety and accuracy of digital transactions by ...

RBI is introducing a new mandate for all banks to introduce name lookup while adding beneficiary details for payment.

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

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 has announced a new initiative to introduce a beneficiary account name look-up facility for RTGS ...

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

The Reserve Bank of India has directed the National Payments Corporation of India to develop a feature allowing customers to ...

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

The Reserve Bank of India (RBI) highlighted that payment systems like Unified Payments Interface (UPI) and Immediate Payments ...

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

Accordingly, to enable remitters in RTGS and NEFT to verify the name of the beneficiary account holder before initiating ...