Axis Bank has created VPAs for all accounts without user intervention

  • Thread starter Thread starter genie
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If I had a company of 1000 employees I would ask all of them to open salary account with Axis bank and transfer their salary using internet banking. Transfer between same bank accounts are done instantly and its free(I guess so). Why would I need Cheques or UPI if I already have a good payment medium? My father who is government employee,receives his salary through NEFT so I guess its possible in pvt. sectors too.
 
My name surname is very common, and I was able to find 100s of profiles on Orkut/Facebook matching my name. I am sure many of them would be having accounts in bank which I have. After few months year, it would be difficult for people to understand whether they send money to me if they use VPA and name.surname@bank.
Some regulation is needed to set username for VPA address in future.
 

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