UPI ID: If you also use UPI on Google Pay, Paytm or Phone Pay, then this news is very important for you. National Payments Corporation of India (NPCI) has ordered to close the UPI ID of many users from December 31.
NPCI has issued a circular to Google Pay, Paytm and Phone Pay saying that those UPI IDs have not been activated for a year. This means that the users have not transacted with any of their UPI ID for a year. His ID should be closed after December 31, 2023.
Let us tell you that NPCI is a non-profit organization, which is India’s retail payment and settlement system. That means apps like PhonePe, Google Pay and Paytm work on its guidelines. Also, in case of any dispute, NPCI acts as its mediator.
Know what are the rules?
According to the NPCI circular, keeping in mind the security of the users, instructions have been given to close the UPI ID which is not used for 1 year. Actually, many times users create a new ID without delinking their old number. Due to this people can become victims of fraud. In such a situation, instructions have been given by NPCI to close the old ID.
At the same time, the old number of the user can be issued to someone else. This may increase the possibility of fraud. This is the reason why the decision has been taken to close Purani Ko ID.