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    Question

    Which service is mandated by the RBI to verify the

    beneficiary's account name before transactions by April 1, 2025?
    A Immediate Payment Service (IMPS) Correct Answer Incorrect Answer
    B Unified Payments Interface (UPI) Correct Answer Incorrect Answer
    C Real-Time Gross Settlement (RTGS) and National Electronic Funds Transfer (NEFT) Correct Answer Incorrect Answer
    D Bharat Bill Payment System (BBPS) Correct Answer Incorrect Answer
    E Prepaid Payment Instruments (PPIs) Correct Answer Incorrect Answer

    Solution

    RBI mandates account name verification for RTGS and NEFT to enhance transaction security and reduce errors.

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