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The receiving email server uses this private-public key combination to validate the email source.
If there is a validation failure, the recipient server may reject the email or classify it as Spam/ Forged email, based on the server behaviour.
Every outgoing email includes a unique signature generated using the private key for the particular domain.Spammers follow this approach as it makes more people view the email since the sender appears to be authentic.But, sometimes, it may pose serious consequences if they try to retrieve sensitive information from the user.The way the SPF records needs to be added often varies with different DNS Providers.Check if you have copy pasted the correct information from Zoho Setup pages.
If the recipient domain rejects the email, it will send bounce messages to the domain that was spoofed.