The debate over UPI transaction charges has intensified after RBI Governor Sanjay Malhotra indicated that India’s digital payment infrastructure cannot remain cost-free indefinitely.

Speaking after the Reserve Bank of India’s monetary policy announcement, Malhotra said it is too early to conclude whether charges will be introduced but acknowledged that someone ultimately has to bear the cost of operating the UPI ecosystem.

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What Did the RBI Governor Say?

Responding to a question on whether UPI transactions could soon attract charges, RBI Governor Sanjay Malhotra said:

“It is very premature to talk right now. The government is still carrying out the amendment. The costs have to be paid by someone.”

He added that the priority is to ensure India’s digital payments infrastructure continues to grow and remain sustainable.

Malhotra further clarified that the costs already exist but are currently being absorbed elsewhere.

“The cost is already getting passed on. It may not be directly to the user, but someone is paying the cost.”

Why Is MDR Being Discussed Again?

UPI transactions are currently free for consumers as well as merchants because the government removed the Merchant Discount Rate (MDR) on UPI payments in January 2020.

Instead, the government has compensated banks and payment service providers through incentive schemes.

However, with UPI processing billions of transactions every month, the cost of maintaining payment infrastructure has increased substantially, while government subsidies cover only part of these expenses.

This has revived discussions on bringing back MDR for certain transactions.

What Is Being Proposed?

According to reports, amendments to the Payment and Settlement Systems Act, recently tabled in Parliament by Finance Minister Nirmala Sitharaman, could allow MDR on select UPI transactions.

The proposal under discussion includes:

• MDR of 0.3% to 0.5%
• Applicable only on transactions above ₹2,000
• Limited to large merchants crossing a specified turnover threshold

No final decision has been announced.

Will Consumers Have to Pay?

Based on the proposal currently being discussed, ordinary consumers are not expected to pay any fee.

Instead, the MDR would be charged to eligible large businesses accepting UPI payments.

This means:

• Paying your neighbourhood grocery or vegetable vendor would likely remain free.
• Large retail chains accepting high-value UPI payments could pay a small processing fee.

However, the proposal is still under consideration and no final rules have been notified.

Why Does UPI Need Funding?

Although UPI appears free to users, operating the network involves significant costs, including:

• Payment processing infrastructure
• Bank settlement systems
• Fraud detection and cybersecurity
• Technology upgrades
• Server maintenance
• Customer support

Currently, these expenses are shared between the government, banks and payment service providers.

The RBI Governor indicated that a long-term funding mechanism will be necessary to keep the ecosystem sustainable.

What Happens Next?

At present, no UPI charges have been introduced.

The proposed legal amendments simply create the possibility of reintroducing MDR for specific categories of merchant transactions.

Whether the government ultimately chooses MDR or another funding model remains to be seen.

Until an official notification is issued, UPI payments for consumers continue to remain free.

Key Highlights

• RBI Governor Sanjay Malhotra said it is too early to confirm UPI transaction charges.
• He stated that someone must ultimately bear the cost of running UPI infrastructure.
• Parliament is considering amendments that could permit MDR on certain UPI transactions.
• Reports suggest MDR of 0.3%–0.5% may apply only to transactions above ₹2,000 at eligible large merchants.
• Everyday consumer UPI payments and small merchants are expected to remain unaffected under the proposal.
• No final decision has been announced by the government.

FAQs

Are UPI transactions becoming chargeable?

No. UPI transactions remain free. The government is considering amendments that could allow MDR on certain merchant transactions, but no final decision has been announced.

What did the RBI Governor say about UPI charges?

RBI Governor Sanjay Malhotra said it is premature to discuss charges but noted that maintaining the UPI ecosystem involves costs that “have to be paid by someone.”

What is Merchant Discount Rate (MDR)?

MDR is a fee paid by merchants to banks and payment service providers for processing digital payment transactions.

Will consumers have to pay UPI charges?

Based on the proposal being discussed, consumers are not expected to pay directly. Any MDR, if introduced, would likely apply to eligible large merchants on higher-value transactions.

Will small shopkeepers be affected?

According to the proposal under discussion, small merchants and routine consumer UPI payments are expected to remain outside the scope of MDR.

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The post UPI Transaction Charges Coming Soon? RBI Governor Says ‘Costs Have to Be Paid by Someone’ first appeared on Rightsofemployees.com.

Now your favorite payments app is doing much more than just sending money. Specifically, the NPCI-backed BHIM app now lets you check your CIBIL score for free. Indeed, this big update arrived on Monday, April 20, 2026. Therefore, you can now track your credit health while you pay your daily bills. In fact, the app has teamed up with TransUnion CIBIL to make this happen. Simple as that.

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BHIM App Version 4.0.19: Key Stats

Now you can see why millions of people are updating their apps today. Actually, the BHIM platform is turning into a full financial tool. In fact, here is a look at what the new version offers you.

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1. How to Check Your Score in 4 Steps

Now you do not need to visit other websites to see your credit status. Actually, the process is very fast and takes less than a minute.

The Setup Guide

First, open your BHIM app and look for the “Financial Services” section. Next, pick the option that says “Free CIBIL Score.” Thus, you will see a prompt to enter your PAN card details and your full name. Furthermore, you must give your clear consent for the app to pull your report. Specifically, the data is only retrieved after you click the approve button. Therefore, your financial privacy stays safe under your own control. Period.

2. Fast Biometric UPI for Daily Spends

Now the app is also making your small payments much smoother. Actually, a new update from March 2026 allows you to pay without a PIN.

Fingerprint and Face Unlock

First, you can now approve any UPI payment up to ₹5,000 using your face or fingerprint. Next, this means you no longer have to type a PIN in crowded shops. Thus, your transactions are both faster and more secure from prying eyes. Additionally, this feature works on both Android and iOS devices. Moreover, transactions above ₹5,000 still need your secret PIN for extra safety. Consequently, you get the best mix of speed and security. Period.

3. Ten Years of UPI Success

Now these new features come just as UPI marks its 10th birthday this month. Actually, the platform has grown over 12,000 times since it first started in 2016.

Huge Growth in 2026

First, UPI now handles nearly 49% of all real-time payments across the whole world. Next, in January 2026 alone, people made over 21 billion transactions. Thus, the total value reached a record of ₹28.33 lakh crore in a single month. Furthermore, younger users under 30 have now reached 99% adoption. Specifically, digital payments are now the default mode for almost every Indian citizen. Therefore, the BHIM app is evolving to meet the needs of this massive user base.

Frequently Asked Questions

Q: Is it safe to check my CIBIL score on BHIM?

Now, yes. BHIM uses a consent-based model. Thus, your data is only accessed when you explicitly ask for it.

Q: Does checking my score on BHIM lower my credit points?

Actually, no. This is a “soft pull.” Therefore, checking your own score on the app will not hurt your credit rating.

Q: Which app version do I need for this?

Actually, you must have version 4.0.19 or higher. Thus, check the Play Store or App Store for the latest update today.

Q: Can I check my score in my local language?

Since BHIM supports over 15 languages, you can navigate the entire process in your mother tongue. Therefore, it is very easy for everyone to use.

The Bottom Line

Now the BHIM App Update of April 2026 is a big win for every Indian user. While the app started for simple payments, it is now a complete money manager.

Overall, the goal is to make you more aware of your financial health every day. Therefore, don’t just send money—take a moment to check your credit score too. Thus, you can plan for future loans and stay debt-free. Meanwhile, keep checking our blog for more UPI and banking tips! Lastly, we hope you enjoy the new, faster BHIM experience!

Track your score. Pay with ease. Period.

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Actually, a very used feature Peer-to-Peer (P2P) “Collect Request” on UPI apps will be removed by NPCI from October 1, 2025. NPCI says that fraudsters are using this feature on a large scale. In such a situation, it has become necessary to shut it down so that financial fraud can be curbed.

Let us tell you that the ‘Collection Request’ or ‘Pull Transaction’ feature allows users to request money from another customer via UPI. Fraudsters often misuse this feature to trick users into authorizing payments, so this ban has been imposed. However, merchants can continue to submit collection requests even after October 1.

What is the P2P Collect Request feature?

With this feature, any user can send a payment request to another UPI user, which on acceptance, the other person sends the money by entering his UPI PIN. Initially this feature came to make payments easier, but over time it became the favorite weapon of scammers. After this, NPCI has said that from October 1, 2025, UPI P2P collect will not be allowed to be processed in UPI.

What are the rules now?

The rule is that all member banks and UPI apps are completely barred from initiating, routing or processing UPI P2P collect transactions. Currently, a UPI user can collect up to a maximum of Rs 2,000 in a single transaction from another individual.

What is the share of bridge transaction?

Industry experts say that this decision is not very difficult because the share of “pull” transactions is only 3% of the total transactions of UPI. This means that this change will not cause much trouble to most UPI users. This step is an important initiative towards creating a secure digital payment system.

NPCI gave information to all banks and fintech companies

After this decision, it may be necessary for merchants to follow KYC rules for ‘pull’ transactions, which will further curb fraud. NPCI has sent information about this change to all banks and fintech companies so that they can prepare for it. This will make the use of UPI even more secure and increase customer trust.

How much fraud in the last three years?

These are the statistics of UPI fraud

2022-23 – Total frauds worth Rs 573 crore occurred in 7.25 lakh cases.

2023-24 – Total frauds worth Rs 1087 crore in 13.42 lakh cases.

2024-25 – Total frauds worth Rs 485 crore in 6.32 lakh cases.

When Finance Minister Nirmala Sitharaman was questioned about preventing fraud in UPI transactions and making transactions more secure, she said that the government is making efforts to stop these cases. Strict steps are being taken jointly by NPCI, RBI and the government.

How much has the transaction figure increased since 2017?

Minister of State for Finance Pankaj Chaudhary said in a written reply in the Lok Sabha that while there were only 92 crore transactions through UPI in 2017-18, this figure will increase to 18,587 crore in 2024-25. This increase shows a CAGR (compound annual growth rate) of 114%.

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The facility of ‘collection’ i.e. payment request between persons (P2P) through UPI from banks and payment apps will be closed from October 1, 2025. Earlier, NPCI had said in a circular issued on July 29 that the process of P2P ‘collection’ will not be allowed in UPI from October 1, 2025.

P2P Collection in UPI means that the facility of ‘collection’ requests from banks and payment apps will be completely removed from the said date. The P2P feature is used to send requests for money to other UPI app users. It reminds them to share the amount. However, this feature is being used by fraudsters to cheat UPI users.

What is the purpose of NPCI?

NPCI said that all member banks, payment service providers (PSPs) and UPI apps are directed to make necessary changes in their systems and operational procedures to ensure that no P2P ‘collection’ transactions are initiated or processed on UPI after October 1, 2025. This decision means that all member banks and UPI apps (PhonePe, Google Pay and Paytm etc.) will not be able to process P2P collection transactions after this deadline.

What is the current arrangement

Under P2P collection, currently a maximum of Rs 2,000 can be collected from an individual per transaction. Also, the limit of successful transactions is 50 per day. This means that currently a transaction of Rs 1 lakh is allowed in a day under this facility. Rahul Jain, Chief Financial Officer, NTT Data Payment Services India, said that by removing this facility, UPI (Unified Payment Interface) has strengthened its position as a fast and easy, secure and reliable platform.

What will be the new change?

NPCI had set a transaction limit of Rs 2,000 in the year 2019, but fraud continued. This step will act as a security measure for the users and now such fraud will be prevented. Under this change, a measure will be taken to reduce fraud by removing the high-risk channel. Now all P2P transactions will be initiated by the users for which the users will have to scan the ‘QR code’. He said that in this situation the users will have full control over their transactions.

The post UPI Payments Halted for This Service from October 1 — What You Need to Know first appeared on Rightsofemployees.com.

With these, apart from increasing the security of the system, an attempt will be made to give a better experience to the users. You can read about these rules in detail below.

You will be able to check the balance only this many times in a day

Till now you could check your bank account balance as many times as you wanted with the help of UPI apps (like Google Pay, PhonePe or Paytm). However, now balance can be checked only 50 times a day in each app. The reason behind this is that often some apps check balance repeatedly in the background, which puts more load on the bank server. This slows down the system and sometimes even crashes, so now this limit has been fixed so that there is no pressure on the resources.

Linked account listing also restricted

Also, now you will be able to see the information of bank accounts linked to your UPI profile (List Account API) only 25 times in every app. Along with this, it has also been made mandatory that this data should be accessed only after taking permission from the user. This step is very important for data privacy and safety.

Time Limit for Recurring Payments

If you have scheduled bill payments like Netflix , electricity bill, EMI, SIP using UPI Autopay , then now these transactions will be processed only in non-peak hours. 10 AM to 1 PM and 5 PM to 9:30 PM are considered peak times. Apart from this, if an Autopay transaction fails, only 3 retries will be allowed. That is, after a total of 4 attempts, that mandate will be considered failed.

Transaction status now in 90 seconds

Now if any of your transactions goes into Pending or Processing, you will get its status update within 90 seconds. Earlier, many times people had to wait for hours and talk to customer care, now this problem will end. However, a user can now check the status of the same transaction only 3 times at most and there should be a gap of at least 90 seconds between each time.

UPI ID of inactive mobile number will be closed

If you have not used the UPI ID associated with any of your mobile numbers in the last 12 months, then that ID will be closed automatically. This change has been brought about so that if an old mobile number is given to another user, money is not transferred from it by mistake. This will also reduce the possibility of fraud.

Adding a new bank account will be more safe

Now if you want to link a new bank account in UPI apps, then there will be more verification checks in that process. This may include multi-factor authentication, mobile OTP and other safety checks at the bank level. This change has been made especially for those users who are linking a new bank account for the first time.

Faster API response time

Now the response to UPI APIs like transaction initiation, address validation etc. should come within 10 seconds. Earlier this time was up to 30 seconds, due to which some transactions got slowed down. Now faster response time will improve the payment experience and apps will run more smoothly.

New system for UPI payment fees

Now the common customer or seller will not have to pay any charge on UPI payment, but payment aggregators like Google Pay, PhonePe will have to pay transaction fees to the banks. This will balance the cost of maintaining the UPI network. However, the government has made it clear that its burden will not be put on the common customers under any circumstances.

Let us tell you, ICICI Bank has announced that now aggregators will have to pay fees for UPI transactions. For this, the bank has sent letters to payment aggregators (PAs) and told them that they will have to pay up to Rs 10 on UPI transactions. Yes Bank and Axis Bank already charge PAs for UPI payments.

After all, why were these big changes made?

By the year 2025, more than 18 billion UPI transactions are happening every month in India. In such a situation, the increasing load on the server was affecting the performance of the system. Balance check, autopay and other APIs were being used repeatedly. The decision to limit them was taken so that the UPI system could remain more stable and reliable. Apart from this, many cases have come to light in which transactions were done on old mobile numbers or in the wrong name by mistake. Now the name of the beneficiary will be visible before the transaction, which will warn the user.

Till now, UPI service was completely free and its cost had to be borne by banks and the government, but in view of the increasing transactions and operational expenses, it has now become necessary that payment aggregators (such as Google Pay, PhonePe etc.) also bear some of its burden. Similarly, during the busy hours of evening and morning, all AutoPay transactions increase the pressure on the system and some transactions fail. By limiting it to non-peak time in the new rules, this problem will also be solved to a great extent.

You have to keep these things in mind

It is clear that now you will have to use your UPI apps with a little caution. You will have to give up the habit of checking the balance frequently and do it only when necessary. You will also have to pay attention to the time of autopay transactions and ensure that the payment is scheduled during non-peak hours. At the same time, if a transaction is stuck, it is important to wait a while to check the status again. It is important to understand and adopt these changes so that you can take advantage of UPI correctly and safely.

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NPCI has imposed a limit on many facilities. Due to which now you will not be able to check your account balance again and again. Apart from this, limits are going to be imposed on many other features. Know in details.

The month of August has started today and from today your way of using UPI is also going to change. Yes, from August 1, NPCI has made some changes to reduce the extra load on the UPI system and to speed up UPI transactions. In such a situation, if you also depend on Google Pay, PhonePe and PayTm for every small payment, then it is important that you know the new rules.

These changes are going to happen

Balance Check Limit

Till now UPI users could check their bank balance as many times as they wanted in a day. But now this will not happen from August 1. NPCI (National Payments Corporation of India) has now set a limit for this as well. Now users will be able to check their bank balance only 50 times in a day. This rule is being implemented so that there is no excessive load on the UPI system at the time of need.

Linked account listing also restricted

Under the new UPI rule, now you will be able to see the information of your UPI linked bank accounts only 25 times a day in each app (Google Pay, PhonePe or PayTm).

Autopay will now be processed on time

Nowadays, for everything from recharge to electricity bill or any kind of payment (Netflix, Amazon Prime or SIP installments), users keep Auto Pay mode set in UPI. So that they do not have to open the app again and again to make payment and the payment gets done automatically. But now a limit has been fixed on this as well. From today, Auto Pay transactions through UPI will also happen at a fixed time only. As such, from today, Auto Pay transactions will happen only before 10 am and from 1 pm to 5 pm. Because, the time from 10 am to 1 pm and then from 5 pm to 9:30 pm has been included in the peak hours.

Limit also applies to payment status checks

Often, after making a payment, users check the status again and again to see if the money has been transferred or not. But now NPCI has put a limit on this as well. Now users will be able to check the payment status only 3 times in a day, and that too with a gap of 90 seconds.

Limit on payment reversal

NPCI has now set a limit for payment reversal i.e. getting the payment back. Under the new rule, now users can request for payment refund only 10 times in a month. Apart from this, a user can ask for payment reversal only 5 times from a single person or company.

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What did NPCI say?

NPCI’s international branch NPCI International Payments Limited (NIPL) said in a press release that now more banks have joined the UPI-PayNow real time payment service, making cross border remittance between India and Singapore even easier and faster. This service will start from July 17, 2025.

 What is UPI-Pay Now?

UPI-Pay Now service is a joint initiative of Reserve Bank of India (RBI) and MAS (Monetary Authority of Singapore) of Singapore. It is a real-time money transfer facility, through which people of India and Singapore can send money to each other through mobile number or UPI ID / Virtual Payment Address (VPA). This is the world’s first cloud-based real time cross border payment system, and it is being considered a big step towards strengthening global payment connectivity.

According to the press release:

• Now users of both countries can easily send money to each other.
• UPI-PayNow integration makes cross border money transactions easier and faster, with money reaching the receiver’s account within seconds.
• This service is completely safe and reliable.
• This is especially great for those who send small and frequent amounts of money.

Which banks are now connected with this facility?

Now a total of 19 banks are connected with this service which includes: Bank of Baroda, Bank of India, Canara Bank, Central Bank of India, Federal Bank, HDFC Bank, IDFC First Bank, IndusInd Bank, Karur Vysya Bank, Kotak Mahindra Bank, Punjab National Bank, South Indian Bank, UCO Bank, Axis Bank, DBS Bank India, ICICI Bank, Indian Bank, Indian Overseas Bank and State Bank of India.

How to send money through UPI-PayNow?

The press release also explains how to use the UPI-PayNow linkage to send money cross border. Let’s know about it…

How to receive money in India? :

Recipients in India can receive the money sent from Singapore in their accounts in any of these 19 banks through any of their UPI enabled apps like BHIM, Google Pay and PhonePe, and bank apps. That is, the recipient must have an account in one of these 19 banks.

How to send money from India to Singapore? 

Remittances from India to Singapore can be made through Canara Bank, HDFC Bank and Karur Vysya Bank, ICICI Bank, Indian Bank, Indian Overseas Bank and State Bank of India. In Singapore, customers of DBS SG and Liquid Group can avail this service.

This service is very good for the workers and students belonging to the expatriate community of India.

The post UPI‑PayNow Goes Live in 13 More Banks: Is Your Bank Among Them? first appeared on Rightsofemployees.com.

From buying vegetables, ration to sending money, UPI has become an important part of our lifestyle. However, the problem arises when you pay someone and by mistake that payment gets transferred to someone else. Well, now there is no need to panic about it. To resolve issues in UPI payments quickly, the National Payments Corporation of India (NPCI) has made a new rule. Banks will now have the authority to take automatic action on genuine UPI payment disputes like fraud, failed transactions or merchant complaints, without taking prior approval from NPCI.

According to a circular (No. 184B/2025-2026) of NPCI, banks can directly initiate chargebacks for genuine customer disputes with ‘good intentions’. Even though some of their appeals have been rejected earlier, they will no longer need to seek prior approval from NPCI. In other words, under the new rules, banks will now be able to automatically raise certain types of rejected chargebacks without seeking prior permission from NPCI.

Till now, if a bank’s dispute requests (chargebacks) for a particular account or UPI ID were repeatedly rejected, NPCI’s system would automatically block further attempts citing ‘negative chargeback rate’ (reason code CD1/CD2). Banks that felt the customer’s case was legitimate had to manually request NPCI to ‘whitelist’ the dispute, which was a lengthy process for customers.

What new change has NPCI made now?

NPCI’s new system, called RGNB (Remitting Bank Raising Good Faith Negative Chargeback), allows banks to remove these automatic blocks. If their internal investigation confirms that the customer’s dispute is legitimate. NPCI said in the circular, ‘NPCI has simplified the process by allowing the issuer/remitting bank to raise the chargeback rejected due to the negative chargeback rule. This good faith dispute has been named RGNB.’ This circular will be effective from July 15, 2025.

However, NPCI also said that RGNB adjustment should be raised by the issuing/remitting bank only when URCS rejects normal chargeback with CD1 and CD2 reason codes. The RGNB option is available only through the front end. NPCI further said, ‘This option should not be used to avoid any compensation and penalty, any diversion will be considered as violation of NPCI guidelines.’

In which cases will RGNB be applicable?

RGNB applies to common UPI complaints where customers want refunds, such as unauthorized transactions (for example, money fraudulently sent from a user’s account), failed UPI payments where money was deducted but not received by the recipient, merchant disputes (for example, payment made for goods/services that was never received), and duplicate/incorrect payments (for example, money transferred twice by mistake). Let us tell you that, in the year 2025, more than 11.4 billion transactions were made through UPI every month. In such a situation, even a small fraction of disputes affects millions of people. This change will directly impact consumers who are facing unauthorized or incorrect transactions.

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In the new rules, banks have been given the freedom to re-examine the old rejected cases. NPCI had found in December 2023 that some people were repeatedly doing chargebacks and misusing the system. Therefore, its limit was fixed.

If a customer did a chargeback more than 10 times in a month or more than five times with a single person, then his next refund claim was rejected, but now it is also believed that some genuine claims are also getting stopped due to these rules. Keeping this in mind, this new system has been introduced.

Banks will re-examine old cases

The new chargeback system will work in conjunction with the existing claim process and will give banks the added advantage of being able to re-examine previously rejected cases. The biggest benefit of this change will be to consumers as they will not have to file complaints again and again. Banks will automatically identify which cases are refundable and will be able to restart the refund process based on that.

Eliminate the need for permission

Under the new rules, banks will no longer need to seek separate approval from NPCI to refund money. Under this new system, if a transaction fails or due to technical fault, money is deducted from the customer’s account but does not reach the beneficiary, then the bank will be able to send that transaction directly to NPCI again and start the refund process.

Who will benefit?

1. Customers will get their money back quickly, chances of fraud will be reduced.

2. Banks’ time will be saved, they will not have to wait for NPCI’s approval.

3. Trust and transparency will increase in the government’s digital payment system.

What to do in case of a wrong transaction?

1. Contact bank: Inform your bank or UPI service provider (e.g. Google Pay, PhonePe) immediately. Provide details like transaction ID, amount, date and incorrect UPI ID.

2. Contact the recipient: If the recipient’s phone number or UPI ID is available, request them to refund the amount.

3. Complain to NPCI: If no solution is found, lodge a complaint on NPCI website.

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NPCI issued a circular stating that it has launched a new application programming interface (API). It will facilitate the verification of PAN details, bank account status and account holder’s identity in real time. This data will be verified directly from the Core Banking System (CBS) of banks.

“This API will help government departments to verify customer account details such as PAN validation, account status and name of the account holder with the CBS of their bank,” the circular said.

What is API?

An API is a software bridge that allows two different systems to share data securely. In this case, this API will allow a government platform like the Income Tax portal to receive verification data directly and securely from the internal systems of banks.

NPCI has requested all member banks to implement this facility on priority basis as this service is being provided to the Government of India.

What does this mean for taxpayers?

This new verification facility can bring several benefits to taxpayers:

• The process of linking PAN and bank account will be faster.
• The possibility of manual error in verification will be reduced.
• Refunds and other tax payments will be received quickly and securely.
• The process of data verification will be more reliable and secure.

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The aim of the change in the rules is to make the UPI system more secure and fast. However, due to these changes, users may also have to face some restrictions. Let us tell you what are the new changes.

1. Balance check: Now limited to 50 times per app

Users will now be able to check their account balance only 50 times per day on each UPI app. If a person uses two apps, he will be allowed to check balance 50 times on each app. That is, a total of 100 balance checks will be possible. NPCI has also directed that banks will have to send updated balance after every transaction.

2. Payment status information

Under the new guidelines, payment service providers (PSPs) will have to check the status of a transaction only after a certain time delay. PSPs will now have to make the first API call to check the status of a transaction at least 90 seconds after the transaction is initiated. Apart from this, the status can be checked only a maximum of 3 times in a period of two hours for the same transaction. Banks will have to consider the transaction as failed on receiving some specific error codes, so that there is no need to check the status again and again.

3. Access to account list: Limited to 25 times

Users will now be able to check which bank accounts are linked to their mobile number only 25 times per day per app. This request will work only when the user selects his bank and gives approval. After any failed attempt, the user’s explicit consent will be required to try again.

4. Banks and apps will have to follow the rules

NPCI has directed all banks and payment service providers (such as Paytm, PhonePe, etc.) to monitor API usage. Violators may face fines, usage restrictions or even a ban on adding new users. All PSPs will also have to submit a system audit undertaking by August 31, 2025. In addition, acquiring banks will have to get an annual system audit done by auditors empanelled by CERT-In, the first report of which will have to be submitted by August 31, 2025.

The goal is to make it stable and secure

NPCI says that the new changes will improve the stability and security of the system. This step has been taken to manage the increasing load on the UPI network and prevent system overload during peak hours, thereby improving the digital payment experience for users.

However, these changes may cause some inconvenience to users who frequently check balance or use autopay services.

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If you often use balance check or autopayment through UPI, then this news is important for you. From August 1, 2025, you will neither be able to check your balance repeatedly from UPI apps nor will you be able to use the auto payment facility during peak hours. The National Payments Corporation of India (NPCI) has taken this step to save the network from load and provide better service to all users. There may be some difficulty in the beginning, but in the long run this change will prove to be beneficial for the users.

NPCI issued a circular on May 21 asking all banks and payment service providers (PSPs) to take necessary steps to ensure compliance with the new guidelines. NPCI has directed that by July 31, all banks and PSPs should restrict the 10 most commonly used application programming interfaces (APIs) running on the UPI network, such as checking balance, initiating autopayments, and checking transaction status. If these rules are not followed, action will be taken against the banks and service providers concerned.

After the implementation of the new rule, a customer will be able to check the balance only 50 times a day through the UPI app. To avoid repeated balance inquiries, NPCI has directed banks to send account balance information with every successful transaction. Experts say that this may cause some inconvenience to the business community, as they have to check the transaction status or balance repeatedly. But this change is a step towards making the UPI system more stable and accessible.

API transactions will be limited.

NPCI has clarified that during peak hours – 10 am to 1 pm and 5 pm to 9:30 pm – no API transactions will be allowed without the user’s permission. In addition, all PSPs will have to give a written assurance to NPCI by August 31 that they will queue API requests generated from the system and reduce their processing speed.

Autopayments will also be limited.
From now on, UPI autopayments (like for SIP, Netflix etc.) will be processed only during non-peak hours. A maximum of 1 attempt and 3 retries will be allowed for each autopayment, and that too only during non-peak hours. You can set up autopayments during peak hours, but it will be processed only during non-peak hours.

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If you also use UPI apps like PhonePe, Google Pay, Paytm, Bhim, then you should know that new UPI rules are coming into effect from June 30, 2025. These rules have been brought with the aim of making digital payments more secure, transparent and reliable. Let’s know what major changes are going to happen in the UPI rules. What will be their impact on consumers.

What is the new UPI rule?

National Payments Corporation of India (NPCI) has announced new rules for Unified Payment Interface (UPI). This new rule will come into effect from June 30, 2025. Under the new UPI rule, while making payment through UPI, users will see only the real name of the recipient registered with the bank. Earlier, names or nicknames etc. used to be displayed on the users’ phones. Which scammers used to hide their identity. But now this rule is being changed. So that fraud through UPI can be stopped.

Benefits of the new UPI rule

1. In the rule that will come into effect from June 30, 2025, now the payers will see the real name of the receiver. This will reduce the cases of fraud.
2. Users will be able to ensure whether they are making the payment to the right person or not.
3. After the implementation of this new rule, users’ trust in the UPI system will increase.

The new rule will be applicable on these transactions

1. Person-to-Person (P2P), i.e. this rule will apply to transactions between two individuals.
2. Person-to-Merchant (P2M), which means this new rule will also apply to transactions between a person and a business.

How will the new UPI rule work?

Whenever a user makes a payment through UPI, he will see the real name of the recipient registered with the bank on the app. Let’s assume that you are making a payment by scanning a QR code. So after scanning, you will see the real name of the recipient on the phone and not any nickname or misleading name. Even if a person is making a payment through mobile number or UPI ID, only the name of the recipient registered with the bank will be shown on his mobile.
After the implementation of this new rule, it will be easy for users to ensure before making the payment whether the person to whom they are sending money is correct or a fraud.

Why is this new UPI rule important?

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Nowadays, the use of cash has reduced to a great extent. Now people make digital payments for every small and big transaction. Today, crores of transactions take place daily in the country through UPI i.e. Unified Payments Interface. Through UPI payment, money is transferred from one account to another in just a few seconds.

But sometimes people transfer money to the wrong people’s accounts. Due to which they have to face trouble. But now this will not happen. NPCI i.e. National Payments Corporation of India has issued a rule related to UPI. Let us tell you what this rule is.

NPCI brought new rule regarding UPI payment

National Payments Corporation of India i.e. NPCI has come up with a new rule. Under which your money will not go into wrong hands. Let us tell you that through UPI, P2P i.e. Peer to Peer and P2PM i.e. Peer to Peer Merchant. On doing any kind of transaction, now only the name of the account holder will appear which will be registered in CBS i.e. Core Banking System.

This means that while making payment, you will see the name that is registered in the bank account. Even if that person’s number is saved in your phone with any other name. Sometimes due to people having different names, confusion occurs and due to this money goes to wrong accounts. But now this will not happen. This new rule will be implemented for all UPI apps from 30 June 2025.

What if money from UPI goes to the wrong account?

Sometimes, even when you make transactions with utmost caution, something goes wrong. If you have also sent money to someone else’s account by mistake, then first you have to contact that person and tell him that you have sent money to his account by mistake. In such a case, the chances are very less that he will return your money. But sometimes the money is returned.

If that person is not returning your money, then you can lodge a complaint in your bank that the money has gone to the wrong account. Apart from this, you can lodge a complaint about this by calling on toll free number 18001201740. You can also lodge a complaint about this on the NPCI portal.

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There is no hassle of keeping cash in it and it is a secure way of making payment. UPI facility has also started in foreign countries, due to which tourists going abroad do not have to face any kind of problems. At the same time, National Payments Corporation of India (NPCI) is constantly making efforts to improve UPI user experience.

The new rule will be applicable from this day

In this sequence, another good news has come for UPI users. Actually, NPCI said in one of its circulars that from June 16, 2025, UPI transactions will become faster. In such a situation, whether someone wants to transfer money or check balance, it will be done in seconds. The National Payments Corporation of India said in a circular issued on April 26 that UPI users will now have to wait less in any transaction related activities.

The transaction process will be completed in 10 seconds

NPCI said that earlier UPI transaction related work used to take 30 seconds, now it will take only 10 seconds. In such a situation, user experience will be better and any transaction related work will be done in a jiffy. At the same time, if UPI payment was reversed for any reason, then one had to wait for 30 seconds, but now it will also take only 10 seconds. NPCI has instructed all payment service providers to make all necessary changes to implement this facility.

There will be no impact on the technical decline rate

NPCI said in the circular, “These changes are being made to further improve the user experience. All members will have to make necessary changes in their systems so that the response time is followed. Also, it has to be ensured that the change in response time does not affect the rate of Technical Decline (TD).”

Had to face problems many times last month

Let us tell you that in the past, UPI users had to face problems in making transactions. During this, the National Payments Corporation of India (NPCI) wrote on its official social media platform, “NPCI is facing some technical problems, due to which some UPI transactions are failing. We are working to fix this problem as soon as possible and will keep you updated. We are sorry for the inconvenience.”

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This service will work in the same way as users of any online platform save their credit or debit card details. This is also called tokenization. Its biggest advantage will be that now while making online UPI payment, you will not have to give the ID again and again and this will reduce the payment time.

According to ET’s report, people associated with the matter said that there is a plan to allow NPCI users to store their UPI ID at the merchant checkpoint. Currently, when a customer checks out on an e-commerce site, he usually selects the UPI app and then the account through which he wants to make the payment. It has been told that when the customer locks the preferred UPI ID, the time can be reduced by reducing the steps in the process.

Approval will have to be taken from RBI

According to sources, before launching this facility, NPCI will have to get approval from the Reserve Bank of India (RBI). As per RBI’s instructions, payment gateways are only allowed to tokenize the card. Through this facility, users do not need to fill in the complete card details every time they make payment on the website. If the facility of saving UPI ID is approved, then making payment through UPI will become equal to card payment.

There will be improvement in customer convenience

If this feature is rolled out, consumers can save their UPI ID, called UPI handle, on popular merchant sites like ecommerce platforms, travel booking applications, food delivery apps and quick commerce platforms that they use regularly. This way users will not need to enter their UPI ID or select the UPI application every time they transact, which will improve customer convenience and increase the success rate of transactions.

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Earlier people used to make payments through UPI even abroad by sharing QR code. But now this facility will be stopped.

You are used to making payments or transactions through UPI . You also keep going abroad. Then this news is useful for you. The National Payment Corporation of India (NPCI) has issued a new circular on April 8, 2025. This circular will affect international UPI payments made through QR code. Now it will not be easy to make payments abroad by scanning QR code. This rule has come into effect from April 4, 2025.

What does the circular say

According to NPCI, the ‘ QR Share and Pay’ feature will no longer be available for UPI global P2M (Person to Merchant) transactions. Payer PSPs will have to ensure that the Payer UPI app recognizes it. This means that you will no longer be able to make payments abroad by sharing QR codes. You can understand it in a simple way like this, suppose you buy something from a shop abroad. They send you a QR code for payment. You save that QR code in your phone. Now, if you scan that QR code, you will not be able to make the payment.

UPI is running in 7 countries

According to the NPCI website, currently 7 countries including France, Mauritius, Nepal, Singapore, Sri Lanka and UAE accept UPI-based QR payments from India . In these countries, you can make payments by directly scanning the QR code.

What will be its effect

Now we understand how this new rule will affect users and merchants. Till now, merchants, especially small merchants, used to send their QR codes to customers through WhatsApp and other social media. Customers used to save that QR code in their phones. Then they used to scan it and make payment using a PSP (payment service provider) app like Paytm or PhonePe. This facility was available to merchants both in India and abroad. But now, UPI payments will not be possible abroad by sharing QR codes. Payment service providers (PSPs) have been asked to ensure that their UPI applications recognize and block such international QR share-and-pay-based transactions.

What in your country

Don’t get confused with domestic QR Share & Pay-based transactions. The rule states that the limit for ‘QR Share & Pay’ will be Rs 2,000 for all P2M (non-verified offline merchants). The Payer PSP has to ensure that the Payer UPI app recognises it. This means that if you are making a QR code payment to a merchant in India that is not registered with NPCI, you will not be able to pay more than Rs 2,000 at a time through the QR Share & Pay method. It is worth noting that the domestic limit of Rs 2,000 is already in place. This change has been made only for international transactions.

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Currently, the limit for person-to-person and person-to-merchant payments is Rs 1 lakh. However, in some special cases, this limit for merchant payments is also up to Rs 2 lakh and Rs 5 lakh.

Aim to further improve the UPI ecosystem

RBI Governor Sanjay Malhotra said after the Monetary Policy Committee (MPC) meeting on Wednesday that the purpose of this decision is to make the UPI system more smart and user-friendly. Now NPCI will decide the transaction limit (UPI Transaction limit) for different categories as per the need.

Banks will also get the right to fix the limit

Although NPCI will set a limit, banks can also set their own internal limits within that limit. RBI has also clarified that the current limit of person-to-person transactions (UPI Person-to-Merchant Payment) will remain at Rs 1 lakh.

Security will also be given full attention

Governor Sanjay Malhotra said that if the limit increases, then necessary security systems will also be installed to reduce the risks associated with it. For this, a decision will be taken after talking to banks and other payment partners.

New record of UPI transaction

According to RBI, there was a tremendous increase in UPI transactions in March 2024. This month there were 18.3 billion transactions, which is 13.59% more than the 16.11 billion transactions in February. In terms of value, transactions worth Rs 24.77 lakh crore took place in March, which is 12.79% more than in February.

On a daily basis, now on an average, more than 590 million transactions are happening every day through UPI, whose value is around Rs 79,910 crore.

The growth of UPI is also excellent

According to another report, UPI transactions have increased by 42% year-on-year to 93.23 billion in the second half of 2024. This shows that the digital payment system in India is growing rapidly and people are adopting UPI in large numbers.

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This move by NPCI is aimed at curbing cyber fraud and scams, as sometimes inactive mobile numbers are reissued by telecom companies, increasing the chances of fraudulent transactions.

If you also have an old or inactive mobile number linked to your bank account, update it as soon as possible. Otherwise, you may face issues while making UPI payments, such as transaction failure or money being transferred to the wrong account.

In view of the rapidly increasing cases of cyber fraud and online scams, NPCI has issued new guidelines. It says that such mobile numbers, which are not being used for a long time or are completely closed, need to be removed from the banking and UPI system. Inactive numbers are also causing technical problems that can affect UPI transactions.

Moreover, if telecom companies re-issue these numbers to another user, they can be used by cyber criminals for fraud. For this reason, NPCI has directed banks and payment apps to remove these numbers from the system.

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These new mobile verification rules will come into effect from April 1, 2025. The aim of these new regulations is to increase the compatibility of the system, make it more user-friendly and reduce transaction errors linked to mobile number modifications.

What banks and UPI applications need to do

Banks and UPI applications need to update their mobile number records every week to prevent errors from recycled or modified numbers. Meanwhile, applications need to seek permission from users before assigning or updating numeric UPI IDs. Users need to actively opt in to use this feature, as the default setting is opt-out.

To avoid confusion among users, applications have been prohibited from asking for consent during transactions. If there are delays in NPCI’s verification system, UPI applications can temporarily resolve numeric UPI ID issues intermittently. However, these cases must be documented and reported to NPCI every month for monitoring purposes. What are recycled or churned numbers According to the rules of the Department of Telecom (DoT), once disconnected, a mobile number can be reassigned to a new user after 90 days.

Telecom providers usually deactivate numbers when customers do not perform any activity (calls, messages or data usage) for three consecutive months. Such reallocated numbers are called recycled or churned numbers. Applications that support UPI transactions will now have to ask permission before linking or transferring your UPI number. Your bank-verified mobile number acts as your UPI identifier, allowing you to perform transactions with the help of different UPI applications.

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Due to UPI outage, customers of HDFC Bank, State Bank of India, Bank of Baroda and Kotak Mahindra Bank faced a lot of problems in online payments. Due to UPI being down, thousands across the country were neither able to receive money nor transfer money. However, now UPI has been completely fixed and now all the services are working as before.

Due to this outage which lasted for about one and a half hours, users using different applications faced many problems. After this, NPCI tweeted and informed about the restoration of UPI services. NPCI also released an official statement regarding the reason for the outage.

NPCI had faced intermittent technical issues owing to which UPI had partial decline. The same has been addressed now and the system has stabilised. Regret the inconvenience.

— NPCI (@NPCI_NPCI) March 26, 2025

NPCI posted on social media platform X (formerly Twitter) that the outage was due to technical problems. NPCI said that all the technical problems have now been completely resolved and now users can use UPI.

According to DownDetector, the problem with UPI started by 7:50 pm. Within a short time, thousands of complaints were registered on the website regarding the outage. Let us tell you that India’s Unified Payments Interface is a popular online payment service. It has been designed by the National Payments Corporation of India. At present, no response has been given by NPCI regarding the UPI outage.

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To explain in simple language, if you had linked a number to your bank account or UPI app like Google Pay, PhonePe and Paytm and did not recharge that number. If the number is not working, then that number will be removed from your bank account. According to media reports, National Payments Corporation of India i.e. NPCI has asked banks and apps to remove such numbers by March 31. If this is the case with you too, then you need to follow the steps given below.

Why was this decision taken

According to reports, linking old and useless mobile numbers which are not in use to any bank account can lead to technical problems. If that mobile number is issued in someone else’s name, there is also a fear of fraud. The government wants to keep people safe by avoiding such situations.

Mobile number serves as identification

In case of UPI payment, the mobile number acts as the identification and ensures that the other person is getting the correct payment or not. If the mobile number is not in use and someone else has issued it, then it can cause technical problems. The chances of payment failure increase. That is why orders have been given to delete such numbers.

What should the affected people do?

People whose mobile number is linked to their bank account and they have not been able to recharge it for a long time, should confirm with their mobile operator like Jio, Airtel or Voda-Idea whether the number is active on your number or not. If the number is active in your name, then get it recharged immediately. If the number has been deactivated, then get it activated.

Which mobile numbers get deactivated

According to the report, if a mobile number is not recharged for 90 days, it can be deactivated. However, the user is given a grace period of 15 days and in that period he can get his number activated again. If the number is not activated, then that SIM becomes inactive and it can be allotted to someone else.

What has NPCI said to banks and UPI apps?

NPCI has asked banks and UPI apps to update the list of deleted mobile numbers every week. This will ensure that useless numbers will be removed from the system after April 1. If you are also among those people whose mobile number has not been recharged for many months and it is registered with banking and UPI payments, then get your number activated immediately. By doing this you will be able to avoid any dilemma.

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Most digital frauds through UPI are done through pull transactions. Now NPCI is trying to reduce fraud by removing this feature.

That is, if this change is implemented, then online fraud can be curbed and transactions will become more secure than before. What is Pull Transaction and how will it affect common users? Let’s know the full news…

What is a pull transaction?

Many people may not know what a pull transaction is… So let us tell you that when a request for payment is sent by the merchant to the customer, it is called a ‘pull transaction’. Whereas, when the customer makes a transaction through QR or any other medium, it is called a ‘push transaction’.

What will be the impact of removing pull transactions?

NDTV Profit reported that removing ‘pull transactions’ could reduce the number of fraud cases. But some bankers say that this will also affect genuine transactions and will impact efficiency.

However, no statement has been made on this by NPCI, the government company that operates the retail payment and settlement system in India. The report said that the talks are still in the initial stage and a final decision on its implementation is yet to be taken.

Number of UPI transactions crossed 16 billion in February

This development has come at a time when UPI is becoming increasingly popular for payment in the country. In February alone, the number of UPI transactions crossed 16 billion, with a total transaction value of more than Rs 21 lakh crore. The number of UPI transactions is expected to increase by 46 percent year-on-year to 172.2 billion in 2024, from 117.7 billion in 2023.

There is a flood of complaints related to digital payments and loans

The Reserve Bank of India (RBI) recently stressed the importance of an awareness initiative to make people aware of these frauds. RBI data shows that complaints related to digital payments and loans remain a major concern. Between April and June of the current financial year, the RBI Ombudsman received 14,401 complaints. At the same time, 12,744 complaints have been registered in the next quarter of July to September.

The December 2024 Financial Stability Report states that issues related to loans and digital payments accounted for more than 70 per cent of the total complaints in the first half of the financial year 2024-25.

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What is the new rule?

As per the new instructions of NPCI, banks will have to remove mobile numbers from their system which have been closed or reassigned to new customers. This step has been taken to prevent errors in UPI transactions.

Data will be updated every week

In the meeting held on 16 July 2024, NPCI decided that:

• Banks and payment service providers (PSPs) will have to update their data weekly.
• In this process, the list of those mobile numbers will be removed which are now closed or have been given to some other customer.
• This will reduce the chances of transactions on wrong number and increase security.
  

  What should UPI users do?

  Due to the new guidelines of NPCI, UPI users should take special care of the following things:

  • Update Registered Mobile Number: If you have recently changed your mobile number, update it immediately in your bank and UPI app.
  • Keep an eye on notifications from UPI apps: UPI apps will now seek explicit consent for number updates. An ‘opt-in’ option will be provided for this, so that no changes will be made without the user’s approval.
  • Contact the bank: If your old mobile number is closed, inform the bank immediately so that the security of your account remains intact.
  • Interruption in receiving money: If a customer’s number is not updated, they may face problems in receiving money through UPI.

  New instructions for banks and payment service providers

  NPCI has given banks and UPI service providers time till March 31, 2025 to implement these rules.

  From 1 April 2025:

  • All banks have to submit monthly reports to NPCI.
  • This report will include details of total UPI IDs, number of active users, transactions done through updated mobile numbers and number-based transactions resolved locally.

  Impact of the new rules

  The positive impact of these new guidelines implemented by NPCI can be seen as follows:

  • Security in UPI transactions will increase: Incidents of sending money to wrong numbers will decrease.
  • Incidents of fraud will be reduced: Due to the number update process, the chances of scams and fraud will be reduced.
  • UPI experience will improve: Users will feel more comfortable and secure in transactions.

  Objective of NPCI

  The main objective of NPCI is to make UPI transactions secure and more convenient in the interest of consumers. After the implementation of the new rules, the digital payment system will become more robust and secure.

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The reason for this is that the National Payments Corporation of India (NPCI) provides facilities to them. However, there is a discussion on imposing fees on big merchants while keeping the transactions free for small businesses.

The central government is making big preparations regarding UPI. The government is preparing to re-implement MDR charge on UPI. This charge is being prepared to be imposed not only on UPI but also on RuPay debit cards. If this happens, digital payments may be affected. This charge was waived by the government in the year 2022. But, now fintech companies say that big merchants have the ability to bear it. Therefore, Merchant Discount Rate (MDR) should be charged on such merchants.

Let us tell you that UPI transactions are increasing rapidly. Therefore, the government wants that big traders should also bear some of its expenses. In the budget for the year 2025-26, the government has reduced the payment subsidy from Rs 3,500 crore to Rs 437 crore. Due to which banks are incurring losses. Before the year 2022, merchants had to pay some fees. Which is called Merchant Discount Rate (MDR). This fee was given to the bank in exchange for doing the transaction.

Big businesses may face a setback

According to media reports, bankers say that a banker told that banks have given a proposal to the government. It has been suggested that MDR should be applied to those merchants. Whose annual GST turnover is more than 40 lakh rupees. The government is also planning to start a tiered pricing system. Under this system, big merchants will have to pay higher charges. On the other hand, small merchants will have to pay less fees. A proposal to impose MDR on UPI payments has been sent to the central government by industry banks. Now the department is considering this matter. If this happens, then MDR will return once again.

Know what is MDR?

In the digital payment industry, Merchant Discount Rate (MDR) is the amount that a merchant or shopkeeper has to pay for the real-time payment made by the customer. Currently, there is no MDR applicable on UPI and RuPay debit card payments. These payments are made easy through the National Payments Corporation of India (NPCI). But now the government is preparing to impose merchant charges on these transactions as well.

1,611 crore UPI transactions took place in February

Let us tell you that in February 2025, 1611 crore transactions were done through Unified Payment Interface (UPI). During this period, a total amount of Rs 21.96 lakh crore was transferred. The number of transactions has increased by 33 percent on an annual basis.

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Through this medium of payment, you can send money to the account of the concerned person immediately without any hassle. Today people are doing digital transactions in crores through UPI using various apps. Apart from personal payments, UPI has become a reliable digital payment system for shopkeepers, merchants and online shopping. UPI is playing an important role in promoting a cashless economy. You have been given two options by NPCI to create UPI PIN, the first is debit card and the second is Aadhaar card. At the same time, very few people know about how to set UPI PIN through Aadhaar card?

Setting UPI PIN using Aadhaar card is a very easy task. You will not have to face any kind of problems in this. In this, first of all you have to open the UPI app in your smartphone.

After doing this, enter your bank details. After this, you have to select the option to set UPI PIN. In the next step, you will see two options. It will have debit card and Aadhaar OTP. You have to select the option of Aadhaar.

After doing this, you have to enter the first six digits of Aadhaar for verification. After entering this, an OTP will come on your registered mobile number. You have to enter that OTP.

After the OTP is verified, you will be asked to create a UPI PIN. With the help of this simple process, you can easily set your UPI PIN. However, for security reasons, you should keep changing your UPI PIN from time to time.

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Under this, banks will regularly delete those mobile numbers which have been closed or have been issued to someone else. The purpose of this step is to prevent wrong transactions and make UPI transactions more secure.

Why are these new rules being implemented?

In the meeting of NPCI held on 16 July 2024, it was decided that banks and payment service providers (PSPs) will have to update their systems at regular intervals. Now banks and UPI apps will update the list of mobile numbers every week, so that erroneous or unsuccessful transactions can be reduced.

What do UPI users need to keep in mind?

UPI apps will now seek your consent to update the number. You will get a clear option to opt-in in the app. This means that your number will be updated only when you give your consent. There will be no misleading or forceful consent messages in the UPI app. If the user does not update the number, the facility of receiving money from UPI may be stopped.

New rules for banks and UPI apps

All banks and UPI service providers will have to follow these guidelines by March 31, 2025. From April 1, 2025, they will also have to submit a monthly report to NPCI, which will include this information.

• Total UPI IDs linked to mobile numbers.
• Number of active UPI users every month.
• Transactions done through updated mobile numbers.
• Locally resolved UPI number-based transactions.

What will be the impact of the new rules?

This change will reduce the problem of sending money to the wrong number and UPI transactions will become more secure and easy. Banks and UPI apps will update the mobile number every week, which will reduce the risk of wrong or failed transactions to a great extent. If you use UPI, keep getting updated information from your bank and UPI apps, so that you do not have to face any problem.

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A UPI steering committee meeting was held on July 16, 2024 and multiple working group discussions for UPI numbers were held which were aimed at enhancing interoperability and user convenience in UPI number-based UPI payments.

The new rules state that the banks and payment service providers are supposed to update their list by removing the numbers which have been disconnected or surrendered i.e., churned mobile numbers. The banks are supposed to update their database at regular intervals — at least on a weekly basis, reads the circular.

To reduce the errors

The NPCI circular states that the activity of recycled or the churned mobile numbers reflecting correctly in the bank and PSP/TPAP databases will reduce the chances of errors due to churned mobile numbers.

The NPCI also said that the UPI app will ensure clear, non intrusive communication without misleading/ forceful messaging. Consent will not be taken before or during a transaction in any condition.

Seeding or porting communications of UPI number will exclude miscommunication (for example — the user will stop receiving the money using UPI without taking an action or seeding the number in mapper).

If NPCI mapper response time is not as per requirements, then the PSP app can resolve the number locally subject to the PSP App reporting such occurrences on a monthly basis to NPCI. All members are told to comply before March 31, 2025.

Monthly mapper data which needs to be shared by banks and payment service providers need to be in the following format:

I. Total seeding count

II. Active unique users on mapper for the month

III. Total CMID transactions count for the month

IV. Total UPI number based transactions resolved locally for the month

The circular further adds that the requested data will be provided by PSP/UPI app with NPCI as per the framework from April 1, 2025 onwards.

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National Payment Corporation of India (NPCI) has increased the limit per transaction in UPI Lite. Now customers will be able to transact a maximum of Rs 1000 at a time. Earlier this limit was Rs 500. Along with this, the limit of keeping money in the wallet has been increased from two thousand to five thousand rupees. According to the circular of NPCI, these new limits have come into effect with immediate effect.

Recently, through its latest circular, NPCI has announced new limits for UPI Lite. This decision has been taken in line with the announcement of the Reserve Bank of India (RBI) last year. Through this, an effort is being made to make small value transactions easier. NPCI has instructed all banks to immediately make the necessary changes to implement these new limits.

The amount will be automatically added to your bank account

Earlier, the National Payments Corporation has instructed payment service provider banks and app companies to start the facility of transferring the remaining amount of UPI Lite wallet to the bank account. This facility will start by March 31. Currently, users using UPI Lite can add money to their wallet, but there is no option to withdraw it.

Auto top-up facility also applicable

Along with this, the facility of auto top-up has also been implemented. That is, when the balance is low, the amount will be automatically deducted from the bank account and added to the UPI Lite wallet. For this, customers will have to activate this facility. Click on your profile in the consumer app. There you will find the option of UPI Lite, click on it. After that, the option of add money will come, in which select your bank by filling the amount and then add the amount by entering the PIN. Customers can also set the limit of auto top-up. You can keep up to Rs 5000 in the UPI Lite wallet.

There is no need to enter PIN in these cases

According to the new circular of NPCI, UPI Lite users will not need to enter the PIN number for payments below Rs 500. Apart from this, NPCI has asked banks to identify those UPI Lite accounts in which there has been no transaction in the last six months. The balance in these accounts will be sent back to the bank account.

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The post UPI-Lite Users can Transfer Money From Wallet to Bank Account, NPCI issued circular first appeared on Rightsofemployees.com.

New rules for Fastag come into effect from today

The post FASTag new rules from Today: All about toll charges, penalties and more first appeared on Rightsofemployees.com.

FASTag balance validation rules are being implemented by the National Payments Corporation of India (NPCI). The new FASTag rules are coming into effect from 17 February 2025. In this, the user needs to be more active about his FASTag status. If this is not done, FASTag payment may get stuck.

What are the new rules of FASTag

NPCI has issued a rule on January 28, 2025, according to which, from February 17, 2025, if the tag is blacklisted for more than 60 minutes before the tag is read at the toll plaza. Or if the tag is blacklisted for at least 10 minutes after reading, then payment will not be made. This new rule gives users a window of 70 minutes to correct their FASTag status.

How will the change in FASTag rules affect users?

The change in FASTag rules will have a direct impact on the user. Now recharging a blacklisted FASTag at the toll booth at the last moment can harm you. If your FASTag is already blacklisted when you reach the toll, then recharging immediately will not result in payment.

You can understand it like this.

• If your FASTag is blacklisted before you reach the toll, and remains blacklisted even after the tag is read, payment will not go through and you will be charged double the toll.
• If your Fastag is blacklisted, but you recharge the tag within 60 minutes of its reading or within 10 minutes of its reading, then your payment will be received and you will be charged the normal amount.
• If your Fastag is blacklisted and you cross the toll, you will be charged double. But if you cross the toll within 10 minutes after the tag is read, you will be charged double.
• If you recharge in , you can request for penalty refund. You will not be charged any extra charge.
• This means that you should maintain your Fastag balance and resolve KY related issues. Do not recharge at the last moment.

How to check blacklist status

• Visit the official website of the Transport Department.
• Select “Check E-Challan Status” or similar option.
• Enter your vehicle registration number.
• In this way you will be able to know whether your vehicle is blacklisted or not.

The post Fastag Rule Change: FASTag Balance Validation rules are being implemented by NPCI – Key Details inside first appeared on Rightsofemployees.com.

The digital payments body has rolled out auto acceptance and rejection of chargebacks basis the TCC/RET raised by the beneficiary bank in next settlement cycle after the chargeback is already raised.

However, this process is applicable only for bulk upload option and UDIR not in front end option.

What are chargebacks?

They are often initiated by remitting banks before beneficiary banks can act on UPI deemed approved transactions. This is because the current process enables remitting banks to raise chargeback from T+0 onwards in URCS (Unified Real time Clearing and Settlement).

Where does the problem arise?

Since the process allows banks to raise chargebacks the same day, the beneficiary banks do not get sufficient time to reconcile, and process returns proactively before a dispute turns into ‘chargeback’.

Therefore, several instances came to fore wherein beneficiary banks have raised “return” and didn’t check the status of returns that they have been rejected because chargeback is already raised, and the chargeback has been closed on deemed acceptance basis along with RBI penalty.

How will it be resolved?

To address these challenges, NPCI has now rolled out the process of implementing auto acceptance/rejection of chargeback basis the Transaction Credit Confirmation (TCC) and returns raised by the beneficiary bank in next settlement cycle after the chargeback is already raised.

This is set to be implemented in URCS with effect from Feb 15, 2025.

The NPCI circular states that member banks are advised to take a note of the instructions and disseminate the information to the officials concerned.

The latest NPCI data suggests that UPI achieved a new milestone of 16.99 billion transactions in a month amounting to ₹23.48 lakh crore in January 2025.

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Why did NPCI take this decision?

UPI has now become an important means of digital payment from India to abroad. It is being used from e-rickshaws, grocery shops, metro stations to countries like Sri Lanka, Bhutan, UAE, Mauritius and France. In such a situation, this new rule is being implemented to make UPI transactions more secure and smooth.

What if the UPI ID contains special characters?

If your UPI ID contains special characters, your transaction may be blocked after February 1. NPCI has directed all payment apps to update their services according to the new rule. NPCI had earlier also asked UPI users to use alphanumeric ID. However, now it has been made mandatory and UPI ID may be blocked if the rules are not followed.

What should UPI users do?

If your UPI ID has any special character, change it as soon as possible. Contact your bank or payment app and get a new alphanumeric ID created, so that your UPI transactions continue without any interruption even after February 1.

UPI’s share in India’s digital payments is 83 percent

The share of Unified Payment Interface (UPI) in India’s digital payments system has increased to 83 percent in 2024, which was 34 percent in 2019. During this period, UPI has grown at a compound average growth rate (CAGR) of 74 percent.

The Reserve Bank of India (RBI) report said that the share of other payment systems such as RTGS, NEFT, IMPS, credit cards and debit cards has fallen from 66 percent to 17 percent during the review period. The report said that UPI is playing an important role in advancing the country’s digital payment system. The reason for this is the ease of use of UPI.

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NPCI has clearly stated that banks that do not implement this feature by the deadline will be removed from the Online Mandate Generation System (ONMAGS).

What is CASR feature?

This feature will allow customers to easily cancel, modify, suspend or revoke NACH mandates registered for payments such as Mutual Funds SIP, Loan EMI or Insurance Premiums through their bank’s website or other digital platforms.

Customers will get these benefits

Online process: Customers will no longer need to visit the bank branch.

Transparency: All active and suspended mandates can be easily viewed and managed.

Restart facility: There will be an option to restart previously suspended mandates.

Challenges in the current situation

Currently, many customers face problems in stopping or changing their SIP, EMI or premium payments. Apart from this, the process becomes complicated due to different rules in every bank. This step of NPCI is important in the direction of improving customer experience and making digital banking simple and secure.

Banks will have to follow these guidelines

Secure authentication: Customers will be required to verify through login credentials and OTP.

Specific mandate selection: Customers will be able to view and select all registered mandates linked to their account.

Warning message: A pop-up message will be displayed before cancellation.

Notification alert: An SMS of the cancellation request will be sent to the customer’s registered mobile number.

Faster processing: Banks will be required to process the cancellation file on the same day.

What if the deadline is not met?

NPCI has warned that banks that do not implement the CASR feature by the deadline will be removed from the ONMAGS system. This will make them unable to process NACH mandates, which will have a major impact on their services.

A big step towards improving the facility

Some banks have already implemented the CASR feature. This step by NPCI will not only provide relief to customers but will also make digital banking more effective and convenient.

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In a circular issued on Tuesday, NPCI said, “Taking into consideration various factors, the timeline for compliance of volume limits for existing Third Party App Providers (TPAPs) has been extended by two years i.e. till December 2026. These are TPAPs whose market is more than the limit.”

NPCI had initially proposed a 30 per cent cap on the volume of transactions that can be processed by UPI apps in November 2020. For this, existing entities were given time to comply with the volume limit in 2 years. Currently, major TPAPs like Google Pay and PhonePe have more than 80 per cent share in UPI transactions.

According to NPCI, the 30 per cent cap will be calculated based on the total volume of transactions processed continuously in UPI during the last three months. To achieve 30 per cent market share, players who have more than 30 per cent market share in UPI transactions will have to stop adding new customers.

What is UPI?

Let us tell you that UPI is a real time payment system, which can transfer money to a bank account instantly through a mobile app. Through UPI, you can link one bank account to many UPI apps. At the same time, many bank accounts can be operated through one UPI app. The special thing is that UPI gives you the facility to transfer money even if you have only one information out of scanner, mobile number, UPI ID.

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NPCI’s new guideline also includes complimentary access. After NPCI’s rule, spending of more than Rs 5 lakh will be allowed. These new rules will be effective from January 1, 2025.

NPCI issued a circular and gave information

National Payments Corporation of India said in a circular, “RuPay has set up an exclusive lounge at the T3 departure terminal of Indira Gandhi International Airport. This is RuPay’s first exclusive lounge at Boarding Pier 11, T3D near Boarding Gate No. 41… RuPay Exclusive Lounge offers food, drinks and entertainment, which makes it different from other lounges at T3 departure of IGI Airport. RuPay Exclusive Lounge promises a pleasant stay, great menu and first of its kind entertainment experience to its customers…”

These card holders will get the facility

Let us tell you that exclusive lounge access will be available to only select RuPay cardholders and it will be based on their spend. According to NPCI’s circular, “At Terminal 3, Indira Gandhi International Airport Delhi, only RuPay credit cardholders (Platinum and higher variants) are allowed RuPay exclusive lounge access. Lounge access will be spend based and will be operated by RuPay Benefit Management System (RBMS). Apart from this, member banks and issuers will have to issue details of eligible cardholders every three months.

Can spend this much

It is known that the spend limit for Tier 1 is Rs 10,000 to Rs 50,000. Every three months, 2 complimentary visits will be given, while for Tier 2, the spend limit is Rs 50,001 to Rs 1,00,000 and they will get the facility of 4 free visits in a quarter. Apart from this, the spend limit for Tier 3 is Rs 1,00,001 to Rs 5,00,000 and they will get the facility of 8 free visits in every quarter, while for Tier 4, the spend limit is Rs 5,00,001 or more. Hence, there is no limit on free visits.

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Keeping in mind the regulatory concerns, NPCI had banned Paytm from adding new UPI users in February 2024. After reviewing Paytm’s compliance with regulatory guidelines and protocols, NPCI has approved it to resume adding new users.

The approval letter issued by NPCI was also attached

In the information given by Paytm to the Bombay Stock Exchange, it was told, … We would like to inform you that through a letter dated October 22, 2024, the National Payments Corporation of India (NPCI) has approved the company to add new UPI users with compliance of all NPCI procedural guidelines and circulars. Along with this, the company has also attached the approval letter issued by NPCI.

Net profit in the second quarter was Rs 928.3 crore

According to the letter, this approval is subject to compliance with all procedural guidelines and circulars issued by NPCI from time to time. This specifically includes guidelines and circulars issued on risk management, brand guidelines for app and QR, multi-bank guidelines, TPAP market share and customer data. On the other hand, Paytm’s net profit in the second quarter of the current financial year was Rs 928.3 crore.

Last year, there was a loss of Rs 290.5 crore during this period

Paytm’s parent company One97 Communications suffered a loss of Rs 290.5 crore in the second quarter (July-September) of FY 2023-24. Giving information about its financial performance, Paytm said, Paytm’s operational income declined by 34.1 percent year-on-year to Rs 1,659.5 crore in the quarter under review. Paytm made a net profit of Rs 928.3 crore in the second quarter. This also includes a profit of Rs 1345 crore from the sale of entertainment ticketing business.

The statement said, ‘The company believes that continued focus on payment and financial service delivery will drive profitable growth. This is reflected in the revenue of Rs 981 crore for the payment business. It has increased by nine per cent on a quarterly basis. Revenue from financial services stood at Rs 376 crore, which has increased by 34 per cent on a quarterly basis.’ The company’s indirect costs decreased by 17 per cent to Rs 1,080 crore due to reduction in employee costs, marketing expenses and absence of some one-time expenses in the first quarter of FY 2024-25.

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Now once again NPCI is going to add a new feature in UPI Lite, after which the users doing online transactions through UPI Lite will get relief from many such hassles, which cause them trouble in doing online transactions.

These features are available in UPI Lite

The light version of UPI is called UPI Lite in which you do not even need internet to transfer money. This is an on-device wallet feature in which you can transfer small amounts in real time even without internet. UPI Lite can be used on Bhim and Paytm. Currently, a total of eight banks allow the use of UPI Lite feature. At the same time, you can transact up to Rs 4000 in 24 hours through UPI Lite. The limit on the number of transactions has not been fixed.

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For UPI payment you need 6 or 4 digits, in UPI Lite money can be transferred without PIN. You can also receive money through UPI, but in UPI Lite you only get permission to debit money.

This feature will be an add-on in UPI Lite

Top up feature in UPI Lite from October 31 Users are going to get the facility of auto top-up in UPI Lite feature. This will get rid of the hassle of adding balance to their account again and again. According to the circular of NPCI, from October 31, users will be able to use the auto top-up option to redeposit the amount.

The UPI Lite balance will be automatically loaded from the account to UPI Lite with the amount selected by the users. Its purpose is to provide users the facility to load up to Rs 2000 in their UPI Lite wallet at any time and pay up to Rs 500 from the wallet without UPI PIN. However, users will also be able to turn off the auto top-up option at any time.

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NPCI announced the news in a post on Social Media X (formerly known as Twitter). The post reads, “Another pioneering innovation from NPCI! Experience the power of simplicity with simplified FASTag payments using just mobile number and keep moving forward.” The announcement was made on the sidelines of the Global Fintech Fest 2024 or GFF 2024 event being organised by NPCI in Mumbai from August 28 to August 30.

Another leading innovation from the stable of NPCI! Experience the power of simplicity and keep moving forward with simplified FASTAG payments using just the mobile number. #NPCIGFF2024 #GFF2024 pic.twitter.com/KLIVOArsw9

— NPCI (@NPCI_NPCI) August 28, 2024

How will this benefit commuters? While the scope of the impact of this latest announcement by NPCI is not yet clear, this decision is likely to bring about changes to make FASTag payments easier and faster.

What else was announced at Global Fintech Fest 2024?

It can be said that the mobile number-powered Fastag is not the only major announcement made by NPCI at GFF 2024 on Wednesday. Apart from this, the organization also showcased special machines that will dispense NCMC cards for travelers.
“Now get your NCMC card with Zero KYC through auto-dispensing machines,” NPCI wrote in a separate post on X.

Another leading innovation from the stable of NPCI! Experience the power of simplicity and keep moving forward with simplified FASTAG payments using just the mobile number. #NPCIGFF2024 #GFF2024 pic.twitter.com/KLIVOArsw9

— NPCI (@NPCI_NPCI) August 28, 2024

It is worth noting that NCMC stands for National Common Mobility Card. Through this card, passengers can pay for metro, bus, suburban railway, toll, parking, smart city and retail etc. using their existing debit or credit card.

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In which you can do full or partial delegation. In full delegation, the secondary user will not need the authorization of the primary user at the time of any payment, while in partial delegation, the secondary user will need the security pin of the primary user on every payment.

NPCI launched Bharat Bill Pay For Business

To further strengthen the traders in the country, NPCI has also launched Bharat Bill Pay for Business. Which will give two businesses the power to deal with each other.

In this, every business will have a B2B ID, which will contain the necessary details of the business. By entering this ID on any business platform, all the details of that business will be fetched, through which a business will be able to send a bill to another business, which will accept or pay the bill. This is a completely secure system, which will end the hassle of Invoice Reconciliation.

Big announcement from #GFF24!

The Reserve Bank of India (RBI) Governor, Shri Shaktikanta Das, today announced the launch of two new products built by NPCI at GFF 2024.

These new offerings include Bharat BillPay for Business designed to streamline business-to-business (B2B)… pic.twitter.com/ZOSecntJg4

— NPCI (@NPCI_NPCI) August 28, 2024

UPI transactions expected to reach 439 billion by 2028-29

Total transactions on UPI are expected to grow from around 131 billion last fiscal to 439 billion by 2028-29 and account for 91 per cent of total retail digital payments, a PwC India report has estimated.

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The report titled ‘The Indian Payments Handbook – 2024-29’ also said that India’s digital payments landscape has seen significant growth over the last eight years and the industry estimates that the volume will expand more than three times. Digital payments are projected to grow from 159 billion in 2023-24 to 481 billion by FY 2028-29.

27th August 2024: DAILY PAYMENTS STATISTICS #AePS #BHIMUPI #NETC #IMPS pic.twitter.com/NgTBTFNPXj

— NPCI (@NPCI_NPCI) August 28, 2024

The growth of the payment transaction market in terms of value is expected to double. It will grow from Rs 265 lakh crore to Rs 593 lakh crore during this period.

The PwC India report said that UPI continued its remarkable growth with transaction volume growing 57 per cent year-on-year.

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Also, five year old FASTag will now have to be replaced. Both these tasks will have to be done by 31 October 2024. After this, the FASTag which does not have KYC and which is five years old will be closed and blacklisted. Vehicle owners can update the KYC of FASTag online.

These rules have been implemented to make payments at toll gates more convenient and to remove the current chaos at toll plazas. Now FASTag users will have to ensure that their KYC details are fully updated to avoid getting stuck at toll plazas.

FASTag will have to be linked with registration and chassis number.

Vehicle owners will now have to link FASTags with their vehicle’s registration and chassis number. Registration will have to be updated within 90 days of purchasing a new vehicle. FASTag should also be linked to your registered phone number. You will have to update all these important things by 31 October 2024.

How to update KYC online

You can update your Fastag KYC online. For KYC, you will need the RC of the vehicle, Voter ID card, Passport, PAN card, Aadhar card or Driving license and passport size photo for ID proof.

• To update Fastag KYC, visit IHMCL website fastag.ihmcl.com.
• Login to the website through registered mobile number.
• Next enter your OTP and captcha.
• A new window will open, in which click on My Profile.
• You can check your Fastag KYC status next.
• After this, go to the KYC section and click on Customer Type.
• Further enter all the required details along with the documents.
• After this the KYC of your Fastag will be updated.
• Apart from this, you can also update the KYC of Fastag by going to the bank in which you have balance.

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This strategic partnership enables BCRP to establish an efficient payment platform within the country and facilitate instant payments between individuals and business sectors.

NPCI International Payments Limited (NIPL) and the Reserve Bank of Peru have partnered to implement a transaction system like UPI. Let us tell you that NIPL is a wholly owned subsidiary of the National Payments Corporation of India.

First South American country to adopt UPI

This collaboration marks an important milestone, making Peru the first country in South America to adopt the Unified Payment Interface (UPI) system, NIPL said in a statement.

Also Read: Fixed Deposit: These 3 banks are offering special FD scheme, you will get 8% interest

“NIPL and the Central Reserve Bank of Peru (BCRP) have announced a partnership to enable real-time payment systems like UPI in Peru,” an official statement said.

This strategic partnership enables BCRP to establish an efficient payment platform within the country and facilitate instant payments between individuals and business sectors.

Ritesh Shukla, Chief Executive Officer (CEO) of NPCI International, said that the aim of this partnership is to strengthen the financial infrastructure of Peru and promote economic growth.

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Paytm News : Before the deadline of March 15, Paytm has got a big relief. Paytm got good news from NPCI. NPCI has given green signal to Paytm’s parent company One97 Communications Limited (OCL) as a third party application provider for UPI. National Payments Corporation of India (NPCI) has given this approval to provide UPI services as a Third-Party Application Provider (TPAP) under the multi-bank model. For this, four banks will work as Paytm’s partner banks i.e. Payment System Provider (PSP).

Relief to Paytm users

Paytm users will get the benefit of the green signal from NPCI. One97 Communication Limited has received the license of UPI as a third party application provider. This means that now Paytm users and merchants will be able to continue UPI transactions from the Paytm app without any interruption. This is a big relief news for Paytm before the RBI deadline of 15th March. Now Paytm’s UPI service will continue with the help of four banks.

Joined hands with these four banks

Paytm has joined hands with four banks to continue the UPI service. Paytm has partnered with Axis Bank, HDFC Bank, State Bank of India, Yes Bank for third party applications. Paytm’s UPI service will continue with these banks. These four banks will work as PSP (Payment System Provider) of Paytm. According to NPCI, Yes Bank will act as the acquiring bank for existing and new UPI merchants for One97 communication . @Paytm handles will be redirected to Yes Bank. NPCI has asked Paytm to migrate all its existing handles and mandates to the new PSP banks as soon as possible.

Let us tell you that on January 31, the Reserve Bank of India had ordered to ban most of the services of Paytm Payment Bank. RBI’s deadline is ending on March 15. RBI had shown strictness and said that if Paytm wants to continue its UPI service then it will have to link it with some other bank. For this, Paytm has now got license from NPCI. Paytm has signed agreements with four banks.

NPCI grants approval to One97 Communications Limited (OCL) to participate in UPI as a Third-Party Application Provider (TPAP) under multi-bank model.@dilipasbe

Read more here: https://t.co/XuJpyiiRNq

— NPCI (@NPCI_NPCI) March 14, 2024

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NPCI had issued circular

According to the news, the NPCI circular dated October 31, 2023 states that all members are requested to take note of this and start and accept fund transfers through mobile number + bank name on all IMPS channels by January 31, 2024. Comply with. Banks will also provide the option to successfully add valid mobile number and bank name combination as payee/beneficiary on mobile banking and internet banking channels, the circular said.

IMPS

In online money transfer, a large number of fund transfers are done through IMPS. It is a vital payment system that provides 24×7 instant domestic money transfer facility and is accessible through various channels like Internet Banking, Mobile Banking App, Bank Branches, ATM, SMS and IVRS. Currently IMPS processes transactions through P2A (Account + IFSC) or P2P (Mobile Number + MMID) transfer mode.

For multiple accounts linked to mobile number

As per NPCI circular, for multiple accounts linked to a mobile number, the beneficiary bank will credit the primary/default account. The primary/default account will be identified using customer consent. If the customer’s consent is not provided, the bank will decline the transaction.

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IndusInd Bank has recently launched the new IndusInd Bank Samman RuPay Credit Card with UPI functionality in partnership with National Payments Corporation of India (NPCI). This card prepared for government sector employees is offering a lot of benefits.

This will make your banking experience better and easier. The benefits of traditional credit cards have been combined with the benefits of UPI. IndusInd Bank Samman RuPay Credit Card is an easy-to-use financial option. Many types of benefits are being offered on this card. For example, on payment through this credit card, there is no surcharge on cashback, movie tickets, IRCTC transactions and purchase of petrol. This is an easy method of daily payment for government employees.

In this regard, Soumitra Sen, Head, Consumer Banking and Marketing, IndusInd Bank, said that we are happy to launch IndusInd Bank Samman RuPay Credit Card to provide better value and convenience to all government sector employees. We understand their needs. Keeping this in mind, the new card has been launched.

NPCI Chief Operating Officer Praveena Rai said that this card has been prepared to meet the special needs of government sector employees. Linking RuPay credit card with UPI opens up many convenient payment options for cardholders. The benefits associated with this card are designed to enhance the payment process through UPI on credit cards, ensuring that users enjoy the credit card experience.

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The Reserve Bank of India (RBI) had directed last month that payments up to Rs 5 lakh can now be made in hospitals and education services. Earlier, people had to face problems regarding UPI payment in these sectors. NPCI has ordered banks, payment service providers and UPI applications to increase the limit.

Earlier the UPI limit was Rs 1 lakh, which has now been increased to Rs 5 lakh. This limit will be applicable only on verified merchants. In such a situation, it is necessary for merchants to introduce UPI as a payment mode. Whereas the one day limit of UPI has been fixed at Rs 1 lakh.

In the Monetary Policy Committee held in the month of December, RBI has increased the UPI limit to Rs 5 lakh. This facility will also be available on all supporting apps of UPI like Paytm, Google Pay, PhonePe apps. This facility will be provided to customers in all banks also.

UPI transaction boom

There has been a rise in UPI payments in the country. By the year 2023 it will cross 100 billion. According to the data released by NPCI, about 126 crore UPI payments were made in the year 2022. At the same time, last year in 2023, its numbers have registered an increase of 60 percent.

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UPI account will be closed:

National Payments Corporation of India (NPCI) has asked payments apps and banks like Google Pay, Paytm and PhonePe to deactivate such UPI IDs and numbers which have not been active for more than a year. . The last date for this has been kept as 31st December 2023. This is being done because, sometimes phone numbers are issued to other users also and in such a situation, there can be irregularities in money transactions.

New rule is being made for SIM card

The new Telecommunication Bill 2023 has been passed in the Lok Sabha and Rajya Sabha. Soon the bill will become law. In this new bill, a rule has been made that to get a new SIM card, customers will have to provide biometric details. In such a situation, if you want to buy a new SIM without biometric details, then buy it before 31st December.

Gmail accounts are about to be closed:

Google is deleting all such Gmail accounts which have not been used for one or two years. This work will be completed soon. In such a situation, if you have not used any of your accounts for a long time, then activate it once. It is also possible that such an account of yours may have been deleted.

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However, there is no need for everyone to panic about this. Instructions have been given to close such UPI from which no transaction has been done in the last one year. NPCI has also asked users to send notification through email or message before closing UPI.

NPCI has said that it hopes that this action will increase the security of UPI transactions. Apart from this, many wrong transactions can be stopped. As per the instructions issued by NPCI, all applications and banks will henceforth validate the UPI ID and linked mobile number of inactive customers. UPI ID will be closed if there is neither credit nor debit in a year.

This action is being taken because NPCI has received many complaints of wrong transactions. People often change their mobile number but forget to update the UPI ID that comes with it, which is one of the major reasons for this. This number has been given to someone else and UPI is still active there. This will ensure that only the person whose number is getting the money. Many such cases have come to light due to which NPCI is now taking this step.

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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.

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National Payments Corporation of India (NPCI) has directed all banks and third party apps to block those IDs in which no transaction has been done for one year. For this, NPCI has given time till 31st December. Therefore, in any case, activate your UPI ID before this date. The bank will also send a notification to the users through email or message before deactivating the UPI ID. With this step of NPCI, UPI transactions will become more secure than before. Besides, wrong transactions will also be stopped.

What does the new guideline say?

According to the new guidelines of NPCI, all third party apps and PSP banks will verify the UPI ID and the mobile number associated with it of inactive customers. If any kind of credit or debit has not been done from this ID for one year, then it will be closed.

From the new year, customers will not be able to transact with these IDs. NPCI has given time till December 31 to banks and third party apps to identify such UPI IDs. Through these new guidelines, NPCI wants to ensure that money is not transferred to the wrong person nor is it misused. Many such cases have come to light in recent times.

Difficulty comes with changing mobile number

Many times people change their mobile number and forget to deactivate the UPI ID associated with it. Due to the number being switched off for several days, it gets accessed by someone else. But, only the old UPI ID remains linked to this number. In such a situation, the possibility of wrong transaction increases manifold.

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The organization that operates UPI has directed third party apps like PhonePe and Google Pay and banks to close such UPI IDs in which no transaction has taken place for a year. Before doing this, users have also been asked to send notification through email or message. NPCI has given time till 31st December for this.

With this step of NPCI, UPI transactions are expected to become more secure. Apart from this, many wrong transactions will also be stopped. After the instructions, now all the apps and banks will verify the UPI ID of inactive customers and the mobile number associated with it. If there is no credit or debit within 1 year, the UPI ID will be closed.

There will be a reduction in wrong transactions.

If no transaction has been made using this ID for a year, it will be stopped. From the new year, customers will not be able to transact with these IDs. NPCI has received many complaints of wrong transactions, in view of which this step is being taken.

Many times it happens that people change their mobile number and do not switch the UPID associated with it. Someone else gets this number and the UPID remains activated there. In such a situation, if someone sends money to that number, it will be received by the person who now has that number.

What is UPI?

Full form of UPI is Unified Payment Interface (UPI). This is a unique method of instant online payment. NPCI is the creator and operator of UPI. You can use it by generating UPI ID on Bhim, Google Pay, Phone Pay or any bank’s app. There is no additional charge to use UPI.

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Not going to happen. The interchange fee that will be charged on transactions above Rs 2,000 will be applicable only on PPI i.e. Prepaid Payment Instruments transactions. Normal UPI transaction i.e. bank account to bank account transactions will not have to be charged.

‘What is PPI?’- People started searching

After the circular of NPCI, this confusion was removed that no new charge should be given to common customers on UPI transactions, but people definitely started searching what is PPI Payment. If you are also thinking this, then we have written this article only for you.

What is PPI?

According to NPCI, most payments on UPI enabled apps are bank account to bank account based transactions. Their share in UPI transactions is 99.9%. Rest of the PPIs are merchant based transactions.

But what is this? Under RBI’s Payment and Settlement Act, 2005, PPIs or Prepaid Payment Instruments are such payment instruments, in which you buy goods or services or transfer funds, financial services or remittances through store value in advance. Simply put, such payment apps, in which you buy, or transfer something with the money already inserted, that is, through money inserted in mediums like wallet or gift card.

Basically you keep prepaid amount in the app, which is deducted from your bank account or debit/credit card, cash or. PPIs can be in many forms, such as payment wallets, smart cards, magnetic chips, vouchers, mobile wallets, etc. That is, any such instrument or instrument in which you put money in advance, so that transactions can be done with it.

Are there types of PPIs?

Yes, there are many types of PPIs too. According to RBI, PPIs are issued in the country under three systems.

1. Closed System:

Such PPIs can be used only by the institutions that issue them. That is, if a company gives its PPI, then you will be able to use it within its system. Things like gift cards, vouchers, coupons come in this system. RBI permission is not required for issuing such PPIs.

2. Semi-Closed System:

Apart from the issuing institution, such PPIs can be used in some other institutions as well. For example, if one organization has a contract with another, then you can use this instrument at both the places. But such PPIs can be issued by RBI approved banking institutions or authorized non-banking institutions only. Payment aggregators or payment gateways come in such PPIs.

3. Open System:

Debit and credit cards come in this system. These can only be issued by approved banks on behalf of RBI.

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In such a situation, the National Payments Corporation of India (NPCI), which now operates UPI, has said in a circular issued on March 24, 2023, that Prepaid Payment Prepaid Instrument (PPI) fees will be implemented on merchant transactions from UPI. According to this notification, if a person transfers money of more than Rs 2,000 to merchants through prepaid payment prepaid instrument like mobile wallet, then in such a situation he will have to pay interchange fee. The thing to note is that the card and wallet comes under PPI.

How much will be the interchange fee

According to the report published in the Economic Times, this interchange fee will be charged only on transactions above Rs 2,000 in the circular of NPCI. This fee will generally total 1.1 per cent of the amount exceeding Rs 2,000. Significantly, NPCI has fixed different interchange fees for different regions. The lowest interchange fee will be charged in agriculture and telecom sector. This charge will have to be paid only to the users who make payments to merchant transactions.

Who will not be charged interchange fee

According to the circular of the National Payments Corporation (NPCI), no charges will be levied on peer-to-peer (P2P) and peer-to-peer-merchant (P2PM) transactions between bank accounts and PPI wallets. After implementing this new rule from April 1, NPCI will review it before September 30, 2023.

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With the help of the feature, real time transactions can be done more quickly in one click through boxes. The bank aims to promote the trend of digital payments across the country.

NPCI made feature

UPI Lite has been designed by the National Payments Corporation of India (NPCI). This app was launched by the Reserve Bank of India i.e. RBI in September 2022. This also improves the bank passbook of small value transactions, as these payments will be visible only in the Paytm balance and history section. These will not be present in the bank passbook.

The bank has started this as part of its steps taken to increase innovation. He says that he is the first Payments Bank, which has launched such UPI Lite feature. The company said in a press release that once loaded, the UPI Lite wallet will allow users to make instant transactions of up to Rs 200, making the entire experience fast and seamless. The company said that a maximum of Rs 2,000 can be added to UPI Lite twice in a day. With this, a person will be able to use up to Rs 4,000 daily.

Transaction will also become more secure

NPCI COO Praveena Rai said that we are very excited to launch UPI Lite on Paytm Payments Bank. He said that in UPI Lite, users will get a faster, safer and seamless low-value transaction experience. He further said that more than 50 per cent transactions through UPI are of less than Rs 200. So UPI Lite will better authorize low value transactions. They will be separated from core banking.

Rai told that this will improve the success rate of the transaction. With this, the user experience will improve and it will take one step closer to processing one billion transactions on the UPI platform.

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Along with this, UPI payment for online shopping, hotel booking, OTT platform subscription has been made easier than before. The Reserve Bank of India (RBI) has said that it will increase the number of users for UPI payments. The RBI governor has said on 7 December 2022 that once the UPI customer gives consent to block money in his bank account, the merchant will be allowed to debit multiple times up to the maximum amount instead of allowing one payment at present.

The new changes in UPI will make it easier for customers to keep money for investment purposes such as stock market purchases, online shopping, hotel bookings etc. According to the new rules, UPI customers can make recurring payments for mutual fund SIPs, subscriptions to OTTs such as Netflix, Disney+ Hotstar, music streaming apps Spotify and Apple Music.

This is possible through the UPI Autopay facility. UPI payment system can also be used to make payments on e-commerce platforms Amazon, Flipkart. For this, either a virtual payment address has to be entered or payment can be made by scanning the QR code available on the online shopping platform. The merchant needs the customer’s consent to block the amount in the customer’s bank account for recurring payments or one-time payment orders.

After the change in the new rules, the merchant will be able to debit the maximum amount multiple times after the permission. Explain that at present, once the consent is obtained from the customer, a merchant can do only one debit to get the payment. While after the new change, the merchant will be able to do multiple debits from the customer’s bank account. This can be done after obtaining the consent of the customer for the maximum amount sanctioned.

Example,

if you book a hotel now, then you will have to pay the booking amount first and then make the second payment after staying in the hotel. However, after the implementation of the new rules, the hotel can create an order to receive payments through UPI. The Hotel can debit Your Bank Account at any point of time up to the maximum amount permitted by You without the need to open the Payment App again and again.

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Apart from this, there is also a limit on the number of daily transactions. Digital transactions have increased very fast in the last few years. In this case, some time ago, financial technology company Worldline India had released a report for the third quarter, in which it was told that people in India are using UPI fiercely through mobile. UPI continues to dominate digital transactions both in terms of value and volume. Both the number and value of transactions through UPI have almost doubled on a year-on-year basis.

If you also use UPI, then you must know that UPI transaction is undoubtedly very convenient, but there is a limit to transact with it.

According to the guidelines of NPCI, you can transact up to a maximum of Rs 1 lakh in a day through UPI. Every bank has a daily limit for UPI transactions.

This limit may vary from bank to bank. Apart from this, there is also a limit on the number of daily transactions, that is, you cannot transact more than that in a day. Know about it here.

Transaction limit of banks

SBI allows you to do transactions up to Rs 1 lakh, which is also the daily limit. Whereas in Canara Bank this limit is only 25 thousand rupees.

ICICI Bank has set a UPI transaction limit and daily limit of Rs 10,000 for its users. Punjab National Bank’s transaction limit is Rs 25,000, while the daily UPI transaction limit is Rs 50,000. Apart from this, the UPI transaction and daily limit is fixed at Rs 1 lakh each in HDFC Bank and Bank of India.

UPI transfer number limit

Apart from the daily transaction limit, there is also a limit on the number of payment transfers through UPI. You cannot transact money more than that limit. To increase the limit, you have to wait for the next 24 hours.

Through Paytm, you can do 5 transactions in an hour and only 20 transactions in a day. At the same time, Google Pay users can do only 10 transactions in a day. If you use PhonePe, then it can be transacted only 10 or 20 times in a day and 20 transactions can be done in a day with Amazon Pay.

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But, many times during digital service, unknowingly transfer money to the wrong person. If the victim has transferred money to the wrong person through UPI platforms like Google Pay, PhonePe or Paytm, he can get his money back.

You cannot reverse the payment once made. That is, there is no way by which you can get back the money sent to the wrong account by yourself. In such a case only the payee can return the money. Even though returning your money is now at the mercy of the receiver, but you can definitely complain about it. UPI payment apps, banks and NPCI help you get your money back on complaints.

First of all do this work

If you have paid the wrong person through UPI, then first of all take a screenshot of that transaction immediately. After this, go to the Assistance section of the app and file a complaint. It is very important to do this work. After this contact with your bank. In this case, only that bank can help from where the money has been transferred. Give all the details to your bank. You can also complain by calling the helpline number of the bank or through netbanking. Keep the details of money transfer message and transaction ID safe.

What is the process of complaint

According to the website of NPCI, first of all complain about wrong UPI payment where the wrong transaction has gone. That is, if wrong payment has been made from Google Pay, then first complain to Google Pay. If your problem is not resolved there, then you can complain to the bank in whose account the money has gone. If the bank also does not pay attention to your complaint, then you can complain to the bank ombudsman.

Complain like this on NPCI’s website

If money is transferred to wrong account through UPI, you can file a complaint on NPCI’s website. For this click on Dispute Redressal Mechanism of NPCI website. A form will open here. You have to enter all the information given here. Along with this, you will also have to upload the bank statement. Enter ‘incorrectly transferred to account’ as the reason for the complaint. In this way you can give online complaint to NPCI.

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Google Pay and Phone Pay’s monopoly on third-party UPI payment services may end next month. The National Payments Corporation of India (NPCI) is in talks with the RBI on a decision to cap the total transaction limit for third party UPI payment services at 30 per cent. NPCI wants to implement this decision from 31 December.

At present, the market share of two companies Google Pay and Phone Pay has increased to about 80 percent due to no transaction limit. The NPCI had in November 2022 proposed a 30 per cent transaction limit for third party app providers (TPAPs) to avoid monopoly risk. Sources in the know of the matter said that a meeting was called to discuss all aspects comprehensively. It was also attended by senior officials of Ministry of Finance and RBI along with officials of NPCI. agency

Decision may be taken this month NPCI may decide on the issue of implementation of UPI market limit by the end of this month. According to sources, NPCI is currently evaluating all possibilities. No final decision has been taken on extending the December 31 deadline. However, NPCI has received requests from industry stakeholders to extend the deadline and is examining the same.

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Now Paytm users can make payments to any third party through UPI. This facility will enable Paytm users to make superfast and seamless fund transfers to any mobile number. Especially on UPI registered mobile numbers which are not registered with Paytm.

As per the notification, Paytm Payments Bank has announced that Paytm app users will now be able to do UPI transactions on any mobile number across all UPI payment apps. Even if the person to whom the money is being sent does not use Paytm. With this, Paytm app users can send and receive money from any mobile number with a UPI ID registered in the instant payment app.

National Payments Corporation of India (NPCI) has enabled all payment service providers to access its universal database and make UPI payments interoperable. A spokesperson for Paytm Payments Bank said, “UPI will enable sending money on the app, encouraging wider adoption. We empower users with a robust infrastructure for seamless and secure payments. further strengthens our mission to promote inclusion.”

This is how you can send money to UPI apps

Step 1:In the ‘UPI Money Transfer’ section of the Paytm app, tap on ‘To UPI Apps’.

Step 2:Tap on ‘Enter mobile number of any UPI app’ and enter the mobile number of the recipient

Step 3:Enter the amount and tap ‘Pay Now’ for instant transfer of funds.

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Proposal to fix 30 percent transaction limit for TPAP

At present there is no transaction limit (Volume Cap). In such a situation, the market share of two companies Google Pay and PhonePe has increased to about 80 percent. In November 2022, NPCI had proposed to fix 30 per cent transaction limit for TPAP to avoid monopoly risk.

In this regard, sources said that a meeting was called to comprehensively consider all aspects. According to the news agency PTI, apart from the officials of NPCI, senior officials of Finance Ministry and RBI also participated in this meeting.

Decision on implementation of UPI Market Cap possible by the end of November
Sources said that at present NPCI is evaluating all possibilities and no final decision has been taken on extending the deadline of December 31. He said that NPCI has received requests from the stakeholders of the industry to extend the deadline and they are being examined. According to sources, NPCI may decide on the matter of implementing UPI Market Cap by the end of this month.

What is UPI

Let us tell you that UPI is a real time payment system, which can transfer money to bank account instantly through mobile app. Through UPI, you can link one bank account with multiple UPI apps. At the same time, many bank accounts can be operated through one UPI app. The special thing is that UPI gives you the facility of money transfer even if you have only one of these information like scanner, mobile number, UPI ID.

Now RuPay Credit Card can be linked with BHIM App Recently Rupay Credit Card on UPI facility has been started. Now you will be able to pay with a credit card by scanning the UPI QR Code at the neighborhood grocery store. However, through RuPay Credit Card, you can make payment only to Merchant UPI QR code. At present you can link RuPay credit card of some banks on BHIM app.

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For which Aadhaar based UPI payment service has been allowed. After the relaxation from RBI and NPCI, PhonePe has started a new Aadhaar based OTP service, through which UPI can be activated.

PhonePe becomes the first Aadhaar based UPI

PhonePe claims that it is the world’s first platform with Aadhaar based UPI service. The company claims that after the Aadhaar based UPI service, the number of new users making online payments will increase. Let us tell you that till now Debit card was required to use UPI service. But after Aadhaar based authentication, the hassle of Debit card will be over.

It is worth noting that a large population of the country does not have a debit card, who are not able to use the UPI service. Aadhaar based UPI service can prove to be very beneficial for such people.

How customers will benefit

In the current model of UPI, a Debit Card is required for the UPI PIN during the UPI registration process for each and every user. But as it is known that there are a large number of bank account holders who do not have debit cards. For these, Aadhaar based e-KYC can be done through the new service of PhonePe.

For this, you have to enter the 6 digit number of Aadhaar on the PhonePe App. After this you will receive OTP from UIDAI. After this your bank will complete the authentication process. After this, users will be able to do all the services of UPI payment such as payment check and bank balance check.

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According to the recent decision taken by the Reserve Bank of India (RBI), there will be no fee on UPI for transactions up to Rs 2,000 on the use of Rupay Credit Card. Instructions have been given in this regard in the recently issued circular by RBI.

Let us tell you that the order of the circular came into effect from October 4,
Rupay credit card is in circulation for the last four years. All the major banks of the country are connected to it. RBI’s circular issued on Tuesday (October 4) said, ‘The process of linking the credit card on the app and generating the UPI PIN requires the consent of the customer to enable the credit card in all types of transactions.’

2,000 or less, NPCI said the existing process of the app for international transactions would be applicable to credit cards as well. It also said that zero merchant concessional rate (MDR) will be applicable for this category up to transaction amount of Rs 2,000 or less.

In the information given by RBI, it was said that this circular will be applicable from the date of issue. That is, this rule has come into effect from 4 October. RBI also said that members are requested to take note of this and bring the contents of this circular to the notice of the concerned stakeholders.

RBI Deputy Governor T Ravi Shankar had earlier said, “The purpose of linking credit cards with UPI is to provide a wider choice of payment options to the customer. Presently UPI is linked to savings accounts or current accounts through debit cards.

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RuPay Credit Card is operational for the last four years, and is linked to all major bank and is issuing incremental cards for both commercial and retail sectors. “During credit card on-boarding on the Apps, device binding and UPI PIN setting process shall be included as customer consent to enable the credit card for all types of transactions,” the circular issued on October 4 said. will be considered.’

The National Payments Corporation of India (NPCI) said in the circular that the existing process of the app to enable international transactions will be applicable to credit cards as well. It is noted that Nil Merchant Discount Rate (MDR) for this category will be applicable up to transaction amount less than and equal to Rs.2,000.

MDR is the cost paid by a merchant to a bank for accepting payments from its customers via credit or debit cards, whenever the card is used for payment in their stores. The merchant discount rate is expressed as a percentage of the transaction amount. It was informed that this circular is in force from the date of issue and members are requested to take note of the contents of this circular and bring it to the notice of the concerned stakeholders.

As per the circular, the UPI app will ensure complete transparency on the transactions made by the customer using the credit card through easily accessible transaction history and clearly visible user interface while making the payment.

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There has been a straight 85% increase in the number of transactions in one year. There has also been a significant increase in the value of transactions. With the increase in the acceptance of digital payments, you must also be making UPI payments. Do you know that your bank puts a limit on the transaction on you? You can pay with UPI only up to a limit. Let’s understand it.

Every bank keeps a daily limit for UPI transactions. That is, you can send or receive money only up to a certain amount in a day. Not only this, different banks keep their different charges on how much money can be UPI at a time.

Limit on UPI Transactions of SBI, ICICI, HDFC Bank

SBI UPI Transaction Limit

In SBI’s UPI transaction limit, a limit of Rs 5,000 has been kept for new users for 24 hours. In this, the UPI transaction limit is Rs 1 lakh. At the same time, the daily limit is also up to Rs 1 lakh.

ICICI Bank UPI Transaction Limit

ICICI Bank has kept the transaction limit of UPI for its users at Rs 10,000. Daily limit is also Rs 10,000 per user. However, if you are paying through the Google Pay app, then this limit will increase to Rs 25,000 for you.

HDFC Bank UPI Transaction Limit

HDFC customers can authorize transactions up to Rs 1 lakh or up to 10 transactions in a day. Note here that the limit of 10 transactions is only on fund transfer. If you make any bill payments or do merchant transactions, these will not be counted in it.

There is a limit of Rs 5 lakh per transaction on IPO application through UPI.

New customers or new UPI users who have changed their device/SIM card/mobile number can only transact up to Rs.5,000 in the first 24 hours. For iPhone users, this limit is 72 hours.

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You will also get discount on movie tickets, reward points are available on every transaction done with the card. Apart from this, the customer also gets the facility of complimentary domestic airport and railway lounge. There will be no fuel surcharge on this and discounts will also be available on movie tickets. Personal accident insurance is also available on ICICI RuPay Credit Card. Apart from this, exclusive accidental insurance of Rs 2 lakh is available on RuPay card.

NPCI An indigenous card payment network

ICICI Bank’s credit card head Sudipta Roy while launching this card said that we have always given priority to the convenience of the customers. NPCI is an indigenous card payment network. Talking about the facilities available on Coral RuPay Credit Card, apart from fuel, you will get 2 reward points for every 100 rupees spent.

One reward will be given for every Rs 100 spent in the utility and insurance categories of maximum 10 thousand reward points annually. 2000 bonus reward points will be given if a transaction of 2 lakhs is done annually with the card. After that you will get 1000 bonus reward points for every lakh spent. Only a maximum of 10 thousand reward points will be available annually. Apart from this, lounge facility will be available at the domestic airport and selected railway station in complimentary benefit.

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This co-branded credit card is equipped with contactless features. This card can be used at all merchant outlets or online websites that accept RuPay cards.

• Card Features-
• Yodha BOB Credit Card customers get a complimentary Fitpass Pro membership worth Rs 15,000 for 6 months.
• Within 30 days of card activation, the cardholder gets a Zomato Pro membership for 12 months.
• On spending one lakh rupees within 90 days of card issuance, the card holder gets a membership of Amazon Prime for 12 months.
• Get 10X Reward Points on spending in grocery and departmental stores through this card.
• Apart from this, 2X reward points are available for spending in other categories.
• Through this card you can access airport lounge 8 times in a year. However, you can access the domestic lounge maximum 2 times in a quarter.
• Fuel surcharge of 1% will not be payable on payment of fuel purchase at petrol pumps using this card. Fuel surcharge can be waived up to a maximum of Rs 250 in one billing cycle.
• This card is equipped with contactless technology, which also provides the facility of ‘Tap and Pay’ to the customers i.e. payment can be made by simply tapping on the POS machine without swiping the card.

Life Time Free Hai Card

Yodha BOB Credit Card is a Lifetime Free Credit Card. There is no joining or annual fee for this card.

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