Penny drop (पेनी ड्रॉप सत्यापन)
Penny drop is a bank-account verification where the lender deposits ₹1 into your account and checks that the account is active and the registered name matches yours. It prevents money being disbursed to wrong or fraudulent accounts and takes only a few seconds.
Worked example
You enter your account number and IFSC; ₹1 lands instantly and the check returns the holder name "RAHUL K", which is matched with your PAN name. A mismatch — say, your spouse's account — usually blocks disbursal until you provide an account in your own name.