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RBI Mandates Beneficiary Name Verification For RTGS And NEFT Payments For Free; When Can You Use It?
Beneficiary Account Name Lookup Feature: The Reserve Bank of India (RBI) highlighted that payment systems like Unified Payments Interface (UPI) and Immediate Payments Service (IMPS) already enable remitters to verify the beneficiary's name before completing a transfer.
Beneficiary Account Name Lookup Feature: The Reserve Bank of India (RBI) highlighted that payment systems like Unified Payments Interface (UPI) and Immediate Payments Service (IMPS) already enable remitters to verify the beneficiary's name before completing a transfer.
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