This error appears when the transaction type (for bank-ledgers) given in the Excel sheet is incorrect.
Transaction type
Incorrect : Payment
Correct : Cheque
If you are using an older version of udiMagic, then upgrade to the latest version and try using the new templates. Alternatively, refer this link :
https://www.rtslink.com/tally-erp/2014/11/proper-pay-link-name-not-given/
PS:
The transaction type herein refers to the Bank-transaction-type and can contain these values viz "Cheque; Cheque/DD; E-fund transfer; Others"