Announcing this change, the National Payments Corporation of India (NPCI) has instructed all banks and payment service providers (PSPs) to halve the API response time i.e. the speed of transaction completion.

This will not only make the use of UPI faster but also more reliable. At present, when you make payment by scanning a QR code at a shop, your bank (eg ICICI) sends a request to the receiver’s bank (eg HDFC) through NPCI’s network. After this, it is confirmed whether the transaction was successful or not, and its answer comes back to your bank. This same process will now be twice as fast as before – that is, in just 15 seconds instead of 30 seconds.

Status checking and refund will also be fast

The new rules also state that if for some reason the transaction remains incomplete, then now the process of status update and refund will also be faster than before. Earlier, where the bank was allowed to check the status only after 90 seconds of the transaction, now this time has been reduced to 45-60 seconds.

A look at the growth of UPI

• In April 2025, there were 17.89 billion transactions through UPI, showing a growth of 34% year-on-year.
• Transaction value stood at Rs 23.95 lakh crore, an increase of 22%.
• However, there was a slight decline compared to March, possibly due to the difference in the number of days in the month (31 in March, 30 in April).

What does this mean for you?

• Less waiting time: Payment processing will be faster even in crowded places
• Improved refund experience: Quick status and money back on failed transactions
• Less dependency on connectivity: Encrypted and fast communication

This initiative by NPCI will not only make UPI faster but will also make India’s digital transaction ecosystem more competitive globally.

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However, not much information has been given about the voice feature as to how this feature will work. But it is being speculated that perhaps online payments can be made by speaking. If this happens, then it can be a game changing feature for India, because people of different languages ​​live in India. Also, there is a large population that does not know how to read and write.

Google Pay is working in collaboration with the government

According to ET’s report, GPay will soon launch voice feature. However, the company has not announced the launch date. Google Pay says that it is working with projects like Bhasini of the Government of India, which will help people make payments in local language. Google Pay informed that the company is working rapidly on machine learning and AI. The company believes that with the help of AI and machine learning, it can help prevent online fraud and threats. They called India a big online payment market. Also, they are ready to invest in continuous innovation in India.

Google Pay and PhonePe dominate in India

Google Pay is India’s biggest payment app. According to the November 2024 report, Google Pay’s share in UPI in India is about 37 percent, while PhonePe’s share is 47.8 percent. In simple terms, India’s UPI market is dominated by three companies – Google Pay, PhonePe and Paytm. However, to reduce the dominance of some companies in UPI payments, the government had proposed to impose a market cap of 30 percent. But its deadline has been extended to 2026, so that there is no problem during online payment.

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It is not only safe, but users are also able to transfer money from one account to another in seconds, which eliminates the need to keep cash and also saves time. At the same time, many types of steps are being taken by the central government to promote UPI payment. Under which, apart from India, UPI payment facility has been started in many countries including Maldives, Sri Lanka. Meanwhile, an important news related to UPI payment has come.

This much will be paid without internet

If you do not have a smartphone and you want to take advantage of UPI facility, then you will be able to make UPI payment even without internet. Actually, Reserve Bank of India (RBI) has made digital payment even easier for feature phone and smartphone users through UPI 123Pay. Now you can make transactions up to Rs 10,000 through UPI 123Pay even without internet.

Payment can be done without internet through these 4 methods

• Users who do not have a smartphone can make voice payments through IVR (Interactive Voice Response). For this, they have to call a designated IVR number, then you can make the payment by selecting the correct option from your keypad.
• The second method is proximity sound-based payment. Under this, you can make payment through a special tone, which comes from a device (POD) near your phone. You can make payment by tapping your phone on this device.
• Apart from this, users will also be able to make payments through missed calls. For this, you have to call a number, after which you get a call back. In this call, you can confirm the transaction by entering your UPI PIN.
• The fourth option is for feature phone users. You can make UPI payments through an app on your feature phone.

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Convenience on payment through these methods

ICICI Bank said in a statement that now its customers, whether they are shopping or paying any kind of bill or making offline payment like POS machine, can make payment from their Rupay credit card through UPI. This facility is for person to merchant payment. Along with this, users will also get the benefits of reward points.

You can link these credit cards

ICICI Bank has tied up with National Payment Corporation of India to enable UPI transactions on its RuPay credit card. ICICI Bank is currently issuing various types of RuPay Credit Cards to its customers, which include ICICI Bank Coral RuPay Credit Card, ICICI Bank HPCL Super Saver RuPay Credit Card and ICICI Bank Rubix RuPay Credit Card. ICICI Bank customers can link these credit cards with UPI.

UPI payment will have to be done like this

ICICI Bank customers can make payment through UPI by scanning the QR code of the merchant from their iMobile Pay app. Apart from iMobile Pay, customers can also make payment using their RuPay credit card using any other UPI payment app. For this, they will first have to link their respective credit cards with UPI.

How to link ICICI Bank Rupay Credit Card with UPI…

• Go to UPI Payments option in iMobile app.
• Go to Manage option and open My Profile.
• Select the option of Create New UPI ID.
• Select Rupay Credit Card as payment mode
• Select the UPI ID of your choice which you want to link.
• Click on Proceed and check the transaction details.
• The card will be linked as soon as you click on Confirm.

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In a bid to increase the reach of its digital banking applications, State Bank of India (SBI) recently allowed any bank customer to make United Payments Interface (UPI) payments using its YONO app. This essentially means that you no longer need an SBI bank account to use the UPI features on the YONO mobile app. The public sector bank said in a press release, “With ‘YONO’ for every Indian, any bank customer will now have access to UPI features like Scan & Pay, Pay by Contact and Request Money in the new avatar of YONO.”

How does it work

SBI YONO Mobile Banking App is available on both Google Play Store and iPhone App Store. The onboarding process is very simple for non-SBI account holders. Once you download this app, there will be an option of ‘New to SBI’. Just below it is the ‘Register Now’ option. Non-SBI account holders can click on ‘Register Now’.

On the next page, you will see the option of ‘Register to Make UPI Payments’. Note that your phone number should be linked with your bank account number to use this facility. In the next step, you have to select the SIM which is registered with your bank account. To verify your number, an SMS will be sent from the selected mobile number. The bank says that standard charges will be applicable for this message.

What to do after registration starts

Once your number is verified, you need to select your bank to generate the UPI ID. You can either type your bank name or select the bank from the list. Now you will get a message in which it will be written that your registration for SBI Pay has started. If it is not you, please report to your bank immediately.

You can see your bank account number on the top of your screen. Now you have to create an SBI UPI handle. SBI will provide you three UPI ID options out of which you can select one.

Once you select a UPI ID, you will get a message that reads, “You have successfully created an SBI UPI handle.” You can see the UPI handle selected by you on the screen.

How to set MPIN

You need to set up an MPIN to login to your account and start making payments. In the next step, you need to set a six digit Permanent MPIN of your choice to login to your account. You must ensure that the MPIN must be six digits long. The bank has also given some instructions on how you select the numbers to set the MPIN. Read it carefully and set your MPIN.

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Under this, there will be no check payment without verification. As per the rules, failing which the check will be returned. This new rule of check payment will be effective from 5th of next month. Earlier, under the positive pay system, the limit was Rs 10 lakh and above.

After this, if the customer issues a check of Rs 10 lakh or more through branch or digital channel, then PPS confirmation will be mandatory. Customers will have to provide account number, check number, check alpha, check date, check amount and beneficiary name. Let us know what it is and how you can use it.

What is Positive Pay System?

PPS is a mechanism created by the National Payments Corporation of India (NPCI), for which bank customers have to give information about the checks being issued by them to the bank where they have a savings account. This information has to be shared before the check is presented for clearance. Be aware that check information can be presented in many ways.

How to avail PPS for PNB Cheque?

Positive Pay system can be used by giving check details through Branch Office, Online Banking, Mobile Banking (PNB ONE), or SMS Banking. In this context, PNB said that information has to be given one day before the date of presentation of the cheque.

How will PPS prevent fraud?

Under PPS, the issuer of the check will have to give the details of the check to the bank through SMS, mobile app, net banking or ATM. When the check reaches the bank, the information given by the account holder will be verified. If any discrepancy is found during this, the check will be rejected. Punjab National Bank has said that the check will be returned if there is no PPS confirmation.

How to share check details for verification under PPS?

1. Log in to PNB Net Banking.
2. Click on the ‘Positive Pay System’ tab under Value Added Services.
3. Select Account Number from the drop down menu.
4. After this the customer has to submit the six digit check number, check alpha (3 character), check date, check amount and beneficiary name.
5. Enter the password for the transaction and click on the submit tab.
6. If details are to be given through SMS, account number, check number, check alpha, check amount, date of check have to be given.

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This feature will be very useful in making instant payments. However, the transaction limit can be up to Rs.200 only. It has been claimed in the report that both the companies are in the advanced stage of integrating UPI Lite. The Economic Times has reported about this quoting the source.

Paytm can bring service first

It has been claimed in the report that first Paytm will release UPI Lite service for its app within a month. After this PhonePe will also introduce this service. If this happens, Paytm will become the first third-party app to issue UPI Lite service.

You will get benefit in small transactions

Apart from this, it has also been told in the report that Fintech company Slice is also working to release UPI Lite service on its platform. With this, young customers can complete small amount transactions.

Let us tell you that the UPI Lite service was launched by the Reserve Bank of India last year. This allows users to transfer even low value amounts without internet or UPI PIN authentication. Payment up to Rs 200 has been authorized through the wallet.

NPCI had said in March last year that about 50 percent of the total UPI transactions are of Rs 200 or less. Its integration into third-party platforms will make such transactions much easier. Nothing has been said about this from both the companies.

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Now taxpayers can do the compliance of purchase or construction till March 31, 2023. However, the due date of December 31, 2022 (FY 2021-22) for filing delayed/revised returns has passed. In such a situation, there is confusion among some taxpayers about taking its benefit.

Why issued this circular

In view of the turmoil caused by the Covid epidemic, the CBDT had given time till 30 September 2021 to those taxpayers who could not fulfill the said condition between 1 April 2021 and 29 September. However, the issue of inadequacy of the extended time limit was raised before the CBDT.

What are the exceptions

Under the Income Tax Act , a taxpayer is eligible to claim exemption from tax on income or gains arising on sale or transfer of long term capital assets such as house, agricultural land, industrial assets or land or building etc. For this, under section 54 to 54GB of Income Tax Act, the amount related to capital gain has to be used. The payment deadline for required compliance ranges from six months to three years.

Circular effect

For example, if a taxpayer claims deduction under section 54 for FY 2018-19 on transfer of his house for construction of another house on February 1, 2019, he can claim deduction for three years i.e. up to January 31, 2022. get time. Now the taxpayer can take advantage of this first circular of 2023, if he utilizes his remaining capital gains by March 31, 2023. Similarly, in case of transfer of an agricultural land on January 5, 2020, exemption can be claimed till January 4, 2022 (i.e. two years). Thus, he is now allowed to fulfill the required condition till March 31, 2023.

In case of non-compliance by the extended deadline, the taxpayer will have to pay capital gains tax in the current financial year 2022-23.

Who will not get the benefit of this circular

If the date of completion of compliance is not expiring between 1 April 2021 to 28 February 2022, then the taxpayer cannot claim the benefit till the extended period.

Taxpayer cannot claim benefit in the extended timeline for the purpose of crediting unutilized amount to Capital Gain Account , even if the due date for completion of compliance falls during the said period. For example, taxpayers were given time till July 31, 2022, to deposit unutilized capital gains on long-term capital assets sold during FY 2021-22, which were not to be audited. In such a situation, the benefit cannot be claimed in the extended date, because the date for filing delayed or revised returns for the financial year 2021-22 has passed on 31 December 2022.

This condition is also applicable in case where exemption under section 54 EC has been missed for long term assets transferred during the financial year 2020-21 or 2021-22 where the amount of investment after the date of transfer The period of six months provided for is falling between 1st April, 2021 to 28th February, 2022, as the return filing date for both the financial years has passed.

It appears that the CBDT has deliberately issued the circular after the due date for filing belated returns or revised returns for FY 2021-22 has passed, so that only certain categories of taxpayers can avail the benefit of claiming the exemption.

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The government has released the third installment of the arrears of the employees. Let us inform that before this two installments of outstanding DA have been received by the employees. The Maharashtra government had already announced the arrears under the 7th Pay Commission. The government can soon announce the fourth installment.

It is worth noting that the Maharashtra government had already announced to pay the third installment of arrears under the 7th Pay Commission. But now the money has started coming in the account of the employees. Not only this, the government can soon announce the fourth installment as well.

7th Pay Commission Payment is happening like this

It is worth noting that in the year 2019 in Maharashtra, 7th Pay Commission was implemented for the employees of the Zilla Parishad and Municipal Corporation along with the employees of the State Government. After this, the government decided that in 5 years from the year 2019-20 and in five installments, their dues would be paid to the employees. Under this, till now the employees have got 2 installments. Now the third installment has started coming in the account. After this, the fourth and fifth installments will be left more. 7th Pay Commission

Due to this decision of the government, the employees have become bat-bats. Money has started coming in the account of government employees, if you are an employee of Maharashtra government, then check your account. Under this, Group A officers will get the benefit of 30 to 40 thousand rupees in the employees. At the same time, Group B officers will get the benefit of 20 to 30 thousand rupees. Under this, group C people will get 10 to 15 thousand rupees and fourth category people will get 8 to 10 thousand rupees. Let us tell you that the government employees of Maharashtra are getting the benefit of 31% DA. 7t

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In the current financial year also, due to the increase in Dearness Allowance (DA), the salary and pension amount of central employees were increased. After this hike is implemented from the pre-effective date, the arrears along with salary and pension are paid. In such a situation, changes in the tax slab are also bound to happen. In such a situation, tax relief can also be given on the payment of the outstanding amount. Come, let us know how to get relief from tax on payment of dues…?

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