Department has warned against excessive cash transactions and violations would trigger heavy penalties upto 100% for cash ...

Serbia is prepared to buy out Russia’s shares in Naftna Industrija Srbije (NIS), a crucial energy company in the country, in ...

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

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

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

Currently, the Unified Payments Interface (UPI) and Immediate Payments Service (IMPS) systems enable a remitter to verify the ...

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

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

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