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What are the precautions to be taken while transferring funds through RTGS/NEFT?

April 26, 2017funds neft precautions rtgs transferring

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What are the precautions to be taken while transferring funds through RTGS/NEFT?

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PAO shall provide the following additional details in the RTGS/NEFT slip: a) PAO Registration Number b) Transaction id. The above details are critical since unless the above data reaches the Trustee Bank along with the funds, it will not be in a position to identify the PAO and the SCF for which funds are received for transmitting the fund confirmation receipt to CRA.