This article I wrote appeared in the Deccan Herald on 4th Feb 2021.
1) NEFT is a popular mechanism used for transferring money between individual Bank accounts.
2) But NEFT has flaws. The Payee details are not validated during registration or during transfer.
3) This needs to be addressed by RBI so that erroneous transfers can be completed eliminated.
Please click on the link Can RBI fix flaws in NEFT? OR click/right click for print replica
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