India has a variety of online methods available for transferring money, including digital wallets and UPI. However, with increasing incidents of cyber fraud leading to monetary losses, it is important ...

Most individuals use one or the other method of online money transfer in their lifetime. The convenience of transferring money online helps an individual in making most out of the modern ...

The Reserve Bank of India (RBI) has introduced new changes in NEFT and RTGS systems for Foreign Contribution (Regulation) Act (FCRA) related transactions. This comes after the Home Ministry mandated ...

With the Home Ministry mandating SBI to report all details of overseas donors, including purpose of remittances on daily basis, the Reserve Bank of India (RBI) on Thursday made necessary changes in ...

The Reserve Bank of India's proposed lightweight payment and settlement system (LPSS) will introduce a paradigm shift in the Indian payment landscape. In its annual report for 2023-24, the central ...

The Reserve Bank of India (RBI) announced on Monday the launch of a new beneficiary bank account name verification feature for both the Real Time Gross Settlement (RTGS) and National Electronic Funds ...

For post office savings account holders there will be only one IFSC for all branches of post offices. Fund transfer for Post Office Savings Bank Account (POSB) holders has become much quicker than ...

The contributions to the FCRA account are received directly from foreign banks through SWIFT and from Indian intermediary banks through NEFT and RTGS systems. Member banks have been advised to ...

NEFT system has achieved a milestone on leap day i.e., on February 29, 2024, by processing 4.10 crore transactions, the highest ever in a day so far. The precise number was 4 crore 10 lakh sixty-one ...