UPI : News rules for the users from April 1st
In recent days, UPI is the most used technology around the globe, most people feel relived in their day to day life by making payments with the help of UPI. Some important news is coming out regarding the UPI, a new rule is going to be implemented with the help of UPI from April 1st.
The National Payments Corporation of India (NPCI) has released a list of new rules that will be implemented from April 1. NPCI has issued the latest circular on its official portal. This circular has warned all members to complete the process by March 31, 2025. According to the information received, the bank will permanently remove mobile numbers that have been disconnected, locked or surrendered. The update will happen at least once a week. NPCI wants to prevent fraudulent transactions and make the UPI payments system more secure. This new rule will be implemented from next month that is from April 1st.
A meeting of NPCI was held back in July last year and discussions were held in several groups during this meeting. The objective of this meeting was to improve the user experience of UPI number based UPI payments. The new rule , banks and the payments service providers will have to update their lists regularly, in which disconnected and surrendered numbers will have to be removed. The NPCI circular states that UPI apps will now ask for your consent to update your number. The number will be updated only when the user gives the consent. The update will be no misleading or forced consent messages in this app. UPI is made by the Indian National Payments Act and is regulated by the Reserve Bank of India. It is a safe system and is gradually expanding to many countries around the world.
