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

Whether it’s a bank account, retirement account, or a life insurance policy through your job, you need to start naming ...

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 asked the National Payments Corporation of India (NPCI) to develop a facility to allow ...

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

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

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

The Chairman / Managing Director / Chief Executive Officer of Banks participating in RTGS and NEFT systems Introduction of ...

RBI said that the NPCI shall not store any data relating to this facility. In case of a dispute, the remitting bank and the ...

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

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