RTGS/NEFT Beneficiary Name Look-Up Mandated by April 2025
Current · Source: Reserve Bank of India · RBI/2024-25/99 · issued 30 Dec 2024 · ~2 min read
Quick answerRBI mandates banks to offer a beneficiary account name look-up facility for RTGS and NEFT via internet/mobile banking and branches by April 1, 2025, to reduce errors and frauds, similar to UPI/IMPS.
The rule, in the simplest words
By April 1, 2025, all banks must let you check the name of the person you're sending money to before you send it, for RTGS and NEFT (two ways to transfer money).
You can check the name on internet banking, mobile banking, or at a bank branch, just like you already can with UPI and IMPS (other money transfer methods).
The bank will use your account number and IFSC (a code that identifies your bank branch) to show you the account holder's name from their computer system.
This check must be free for customers, and banks must keep records of all checks to help solve any problems later.
Banks must update their systems and work with NPCI (the company that runs these payment systems) to make this work.
How it plays out — a real example
Priya, a payments & clearing officer in Indore, is helping a customer send ₹50,000 via NEFT to a supplier. Before she confirms the transfer, she uses the new look-up facility on her branch computer to type in the supplier's account number and IFSC. The screen shows the supplier's name, matching what the customer wrote, so Priya feels confident the money will go to the right place and avoids a costly mistake.
What changed
RBI has directed all RTGS and NEFT participant banks to implement a beneficiary name look-up facility, allowing remitters to verify the account holder's name before initiating a transfer. This mirrors the existing UPI and IMPS verification feature. NPCI has been tasked with developing the facility and onboarding all banks.
What it means for you
Banks must integrate a name look-up API with their CBS to fetch and display beneficiary names based on account number and IFSC. This will reduce failed transactions and frauds but requires IT upgrades and compliance with data privacy laws. The facility must be free for customers, and banks must maintain detailed logs for dispute resolution.
What you must do
Coordinate with NPCI to integrate the beneficiary name look-up facility into your CBS and digital channels.
Update internet banking and mobile banking interfaces to show name verification at beneficiary registration, one-time transfers, and re-verification.
Ensure branch staff can perform the look-up for walk-in remitters.
Set up logging mechanisms for all look-up queries and responses, and define dispute resolution processes using unique reference numbers.
Complete rollout by April 1, 2025, and confirm compliance with data privacy requirements.
Who it affects
All banks participating in RTGS and NEFT as direct members or sub-members, IT and digital banking teams, Branch operations staff, Customers using RTGS/NEFT for fund transfers
❓ Common questions
Will this facility be available for all types of RTGS/NEFT transactions?
Yes, the name look-up will be available for both registered and one-time beneficiaries through internet banking, mobile banking, and branch visits.
What happens if the beneficiary name cannot be displayed?
If the name cannot be fetched for any reason, the remitter can still proceed with the transfer at their own discretion, with appropriate alert messages displayed.
Is there any charge for using this facility?
No, RBI has mandated that the beneficiary account name look-up facility must be provided to customers free of charge.
📜 Read the original circular — full text as issued by RBI
RBI/2024-25/99
CO.DPSS.RPPD.No.S987/04.03.001/2024-25
December 30, 2024
The Chairman / Managing Director / Chief Executive Officer of
Banks participating in RTGS and NEFT systems
Dear Sir / Madam,
Introduction of beneficiary bank account name look-up facility for Real Time Gross Settlement (RTGS) and National Electronic Funds Transfer (NEFT) Systems
Please refer to Statement on Developmental and Regulatory Policies dated October 9, 2024 , proposing the introduction of beneficiary account name look-up facility for Real Time Gross Settlement (RTGS) System and National Electronic Funds Transfer (NEFT) System.
2. Currently, the Unified Payments Interface (UPI) and Immediate Payments Service (IMPS) systems enable a remitter to verify the name of the beneficiary before initiating transfer. It has been decided to put in place a similar facility that would enable a remitter to verify the beneficiary bank account name before initiating a transaction using RTGS or NEFT system. Accordingly, National Payments Corporation of India (NPCI) has been advised to develop the facility and onboard all banks.
3. Banks which are participants of RTGS and NEFT Systems, shall make this facility available to their customers through Internet banking and Mobile banking. The facility shall also be available to remitters visiting branches for making transactions. Detailed requirements for the same are provided in the Annex .
4. All banks who are direct members or sub members of RTGS and NEFT are advised to offer this facility no later than April 1, 2025.
5. This directive is issued under Section 10 (2) read with Section 18 of Payment and Settlement Systems Act, 2007 (Act 51 of 2007).
Yours faithfully,
(Sudhanshu Prasad)
Chief General Manager
Annex
(CO.DPSS.RPPD.No.S987/04.03.001/2024-25 dated December 30, 2024)
Introduction of beneficiary bank account name look-up facility for Real Time Gross Settlement (RTGS) and National Electronic Funds Transfer (NEFT) Systems
1. To ensure that remitters using RTGS and NEFT systems can verify the name of the bank account to which money is being transferred before initiating the transfer and thereby avoid mistakes and prevent frauds, a solution for fetching the beneficiary’s name is being implemented. Based on the account number and IFSC of the beneficiary entered by the remitter, the facility will fetch the beneficiary’s account name from the bank’s Core Banking Solution (CBS).
2. This facility shall be made available to remitters through Internet banking and Mobile banking. The facility shall also be available to remitters visiting branches for making transactions.
3. To ensure uniform experience for customers, the banks shall adhere to the instructions given below:
Provision to verify beneficiary bank account name shall be provided in Internet banking and Mobile banking facilities at the time of registering a beneficiary and at the time of one-time fund transfer where the beneficiary may not be registered.
Provision to re-verify a registered beneficiary at any time shall also be provided.
Beneficiary account name provided by the beneficiary bank shall be displayed to the remitter.
In case the beneficiary name cannot be displayed for any reason, the remitter can proceed with the fund transfer, at her discretion.
Specific alert messages as provided in the technical document, issued earlier by NPCI, shall be displayed to the remitter. 4. Both remitting and beneficiary banks shall preserve detailed logs of all queries made, responses received and all other activities as part of beneficiary bank account name lookup facility.
5. NPCI shall not store any data relating to this facility. In case of a dispute, the remitting bank and the beneficiary bank shall resolve the dispute based on the unique lookup reference number and the corresponding logs.
6. While providing the facility, banks shall ensure to comply with legal provisions related to data privacy, if any.
7. Beneficiary account name lookup facility shall be made available to customers without any charge.
8. All banks who are direct members or sub members of RTGS and NEFT are advised to offer this facility no later than April 1, 2025.
Reproduced for reference with acknowledgment — Source: Reserve Bank of India · RBI/2024-25/99 · issued 30 Dec 2024. The plain-English explanation above is BankPulse’s own independent summary.
Ensure branch staff can perform the look-up for walk-in remitters.
💻 IT / Systems
Coordinate with NPCI to integrate the beneficiary name look-up facility into your CBS and digital channels.
📜 Compliance
Update internet banking and mobile banking interfaces to show name verification at beneficiary registration, one-time transfers, and re-verification.
Set up logging mechanisms for all look-up queries and responses, and define dispute resolution processes using unique reference numbers.
Complete rollout by April 1, 2025, and confirm compliance with data privacy requirements.
Grouped from the action items above — a single circular may involve more than one team.
Worked example & action-note template
Example: if you are an IT/Systems lead at a bank this circular applies to (All banks participating in RTGS and NEFT as direct members or sub-members, IT and digital banking teams, Branch operations staff, Customers using RTGS/NEFT for fund transfers), your first concrete step on “RTGS/NEFT Beneficiary Name Look-Up Mandated by April 2025” is: “Coordinate with NPCI to integrate the beneficiary name look-up facility into your CBS and digital channels.” (RBI issued this 30 Dec 2024).
Circular: RBI/2024-25/99 -- RTGS/NEFT Beneficiary Name Look-Up Mandated by April 2025
Issued: 30 Dec 2024
Action required: Coordinate with NPCI to integrate the beneficiary name look-up facility into your CBS and digital channels.
Action required: Update internet banking and mobile banking interfaces to show name verification at beneficiary registration, one-time transfers, and re-verification.
Action required: Ensure branch staff can perform the look-up for walk-in remitters.
Action required: Set up logging mechanisms for all look-up queries and responses, and define dispute resolution processes using unique reference numbers.
Action required: Complete rollout by April 1, 2025, and confirm compliance with data privacy requirements.
Owner: ____________ Target date: ____________
Board/committee approval needed? Y / N
Evidence filed in compliance register on: ____________
Built only from this circular’s own published fields — not legal advice; always confirm against the official RBI source.
💬 Banker Discussion
Discuss this circular with fellow bankers — reply, upvote what helps, report what doesn’t belong. Be professional; no client data. Views are the commenter’s own, not BankPulse’s.
BankPulse Compliance Evidence Pack — generated 03 Aug 2026 · status cross-checked against RBI’s official withdrawal register (refreshed weekly). Official RBI source: https://www.rbi.org.in/Scripts/NotificationUser.aspx?Id=12759&Mode=0 — Plain-English summary by BankPulse (bankpulse.ai), reviewed by our expert reviewer, CA Amit Jain. Independent platform, not affiliated with the Reserve Bank of India; is our own plain-English paraphrase, not RBI’s original wording.
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