Now the Reserve Bank of India (RBI) has shared the bank holiday list for April 2026. Specifically, banks across the country will stay shut for up to 14 days. Indeed, this count includes weekends and regional festivals. Therefore, you should plan your bank visits early this month. In fact, it helps you avoid long queues. Simple as that.

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April 2026 Bank Holiday Calendar

Now you can see the exact dates for bank closures in the table below. Actually, not every holiday applies to every single state. In fact, many are regional.

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Why Are There So Many Bank Holidays?

Now the RBI sets these dates based on three main rules. In fact, this keeps the banking system organized during the busy new year.

The Main Reasons

First, some holidays are under the Negotiable Instruments Act. Next, other dates are for the closing of accounts on April 1. Thus, banks do not deal with the public on that day. Also, all banks stay shut on Sundays and every second and fourth Saturday. Therefore, the first half of April always has many breaks. Overall, the start of the financial year is very busy. Period.

State-Wise Differences Matter

Now you must check if the holiday applies to your local city. Actually, many festivals belong to specific regions only.

Regional Examples

First, Baisakhi is a big holiday in Punjab and northern states. Next, Bohag Bihu only affects banks in Assam. Thus, Tamil New Year shuts down branches in Tamil Nadu. Furthermore, some states celebrate local heroes or events. Overall, you should call your local branch to be sure. Consequently, you can save yourself a wasted trip.

Services That Stay Open

Now you can still move your money even if the branch is locked. In fact, digital banking works 24 hours a day all year long.

What You Can Use

First, Mobile Banking apps will work perfectly. Next, you can withdraw cash from any ATM at any hour. Thus, UPI payments stay active for all your shopping needs. Also, online transfers like IMPS and NEFT usually work fine. Therefore, digital tools are your best friend this month. In addition, you can check your balance on your phone anytime.

Frequently Asked Questions

Q: Are banks closed on April 1 everywhere?

Now, yes. All banks stay shut for the yearly closing. Thus, no public work happens on this day.

Q: Will UPI apps like PhonePe work?

Actually, yes. All UPI apps work 24/7, even on Sundays. Therefore, you can pay for anything easily.

Q: Is every Saturday a holiday?

Actually, no. Only the second and fourth Saturdays are bank holidays. Thus, the other Saturdays are regular working days.

Q: Where is the official list?

Since the RBI puts the list online, you can check their website. Therefore, you can see the rules for every state.

The Bottom Line

Now the April 2026 bank holiday list is vital for your planning. While 14 days sounds like a lot, you can still bank online.

Overall, try to finish your branch work in the last week of April. Therefore, you can stay ahead of the crowd. Thus, you can enjoy your holidays without any banking stress. Meanwhile, keep checking our blog for more news. Lastly, stay digital for a smooth experience.

Plan your visits. Use digital. Period.

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The Employees’ Provident Fund Organisation (EPFO) is undergoing its most radical transformation yet. EPFO 3.0 is designed to shift the Provident Fund from a “locked-in” retirement asset to a liquid, “bank-like” financial tool.

Also Read | India Leave Policy 2026: Rights for Family Emergencies

1. Key Features: UPI and ATM Access

The headline update is the integration of India’s Digital Public Infrastructure (UPI) to settle claims in real-time.

• UPI Withdrawals: Starting April 2026, members can withdraw permitted portions of their PF directly via the BHIM app.

• Initial Cap: To prevent misuse, instant UPI withdrawals are expected to be capped at ₹25,000 per transaction.

• ATM Access: EPFO plans to issue RuPay-linked cards, allowing members to withdraw cash from approved ATMs just like a savings account.

• Real-Time Balance: You will be able to see your “Available Balance” vs. “Eligible Withdrawal Balance” instantly on supported UPI apps.

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2. Technological Overhaul (The “Backend” Reset)

EPFO is moving away from its legacy 2.0 system to a Core Banking Solution (CBS) architecture.

• Auto-Claim Settlement: The system aims to auto-process 95% of claims without manual human intervention, cutting wait times from 20 days to just minutes or hours.

• AI Integration (Bhashini): Using the government’s Bhashini AI, the platform will offer support in multiple Indian languages and use chatbots for easier grievance redressal.

• Tech Partners: India’s IT giants—TCS, Infosys, and Wipro—have been shortlisted to build and maintain this massive cloud-native platform.

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3. Liberalized Withdrawal Rules

The complex maze of 13 withdrawal categories has been streamlined into just three main pillars:

1. Essential Needs: Covers medical emergencies, education, and marriage.

2. Housing Needs: For buying, constructing, or renovating a home.

3. Special Circumstances: Includes natural calamities or sudden financial stress.

[!IMPORTANT] The 25% Rule: To ensure your retirement corpus continues to grow and earn interest (currently 8.25%), members must maintain a minimum balance of 25% of their total contributions in the account at all times….

Also Read | India Leave Policy 2026: Rights for Family Emergencies

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1. The Digital Surge: Volume vs. Value

While digital adoption is universal, the RBI report highlights a clear divide in how different platforms are used:

• The “Small-Ticket” Revolution: Digital payment volumes grew by 35%, largely driven by UPI. The average value of a retail digital transaction dropped to ₹3,830 (down from ₹4,382), indicating that Indians are now using digital modes for even the smallest daily purchases.

• UPI vs. RTGS: UPI dominates 85% of transaction volume, making it the king of retail. However, RTGS remains the backbone of the economy by value, handling 69% of the total transaction value despite accounting for only 0.1% of the volume.

• The Card Shift: Credit card usage continues a steady climb, while debit card transactions have entered a consistent decline as users migrate to UPI-linked bank accounts.

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2. Payment Aggregators: New “Infrastructure” Status

On September 15, 2025, the RBI issued a landmark Master Direction that reclassifies Payment Aggregators (PAs) from mere “pipes” to critical financial infrastructure.

• Three Categories: PAs are now formally split into PA-Online, PA-Physical (for POS terminals), and PA-Cross Border (for international trade).

• Capital & Governance: Non-bank PAs must maintain a net worth of ₹15 crore at the application stage, rising to ₹25 crore within three years. Promoters must also meet “fit and proper” criteria similar to bank directors.

3. AePS Security: Stricter Norms from Jan 1, 2026

To combat rising biometric fraud, the RBI’s June 27, 2025 directive introduces “bank-grade” security to the Aadhaar Enabled Payment System (AePS), effective this week:

• Mandatory Re-KYC: Any AePS Touchpoint Operator (ATO) who remains inactive for three consecutive months must undergo fresh KYC before resuming operations.

• Real-Time Monitoring: Acquiring banks must now monitor operators for “velocity” (too many transactions in a short time) and location-based risks to prevent identity theft.

Also Read | 7th Pay Commission Ends Dec 31: 55% Salary Growth in 10 Years (2025)

The post RBI Reports 98% Digital Payments: New Security Rules for 2026 first appeared on Rightsofemployees.com.

SEBI UPI Payment: If you invest in shares, mutual funds, or other securities, secure payments have become even easier. Market regulator Securities and Exchange Board of India (SEBI) has launched two special initiatives to protect investors from fraud and strengthen the payment system. SEBI claims this will make transactions easier and error-free. The market regulator has developed this facility in collaboration with NPCI. SEBI has launched two facilities called ‘Validated UPI Handles’ and ‘SEBI Check’.

According to media reports, SEBI, in collaboration with the National Payments Corporation of India (NPCI), has launched a unique @valid UPI ID. This handle will be issued to SEBI registered entities directly connected to investors. It will also include specific characters at the end depending on the category, such as ‘.brk’ for brokers and ‘.mf’ for mutual funds.

This will make it easier for investors to identify which entity is genuine and trustworthy. For example, a broker’s ID might be abc.brk@validhdfc, while a mutual fund’s UPI ID might be xyz.mf@validicici.

Confirmation will be provided by a unique symbol.

SEBI said in a statement that major brokers and all mutual funds, covering more than 90% of investors, have already adopted this @valid UPI handle. This feature will be provided as a new payment option for investors. It will work alongside existing methods like NEFT, RTGS, and IMPS.

This will give investors the freedom to choose their preferred transaction mode. Payments made using these IDs will display a unique “thumbprint inside a green triangle” symbol to confirm authenticity. The absence of this symbol will alert investors to the possibility of an unauthorized or fraudulent transaction.

Learn about SEBI Check:

Along with the new UPI system, SEBI has also launched SEBI Check, a digital verification tool that allows investors to independently verify the bank account details and UPI IDs of registered intermediaries. By entering the account number and IFSC code or @valid UPI ID, investors can verify authenticity through the SEBI Check platform or the Sarathi mobile app.

Special QR Code

In addition, SEBI has designed a special QR code with the same “thumbs-up” symbol in the center. This QR code is designed as follows. When investors scan it, it will ensure that the QR code is actually forwarding to a SEBI-registered intermediary. This code will facilitate error-free, fast, and reliable transactions. The thumbs-up icon in the QR code will indicate to the investor that the transaction is for a valid @valid handle. This makes the process of making payments using QR codes simple and secure.

Post Office Scheme : Depositing ₹4,00,000 in this Post Office scheme will earn you a guaranteed return of ₹1,79,613.52. Learn the full story.

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There were many changes in the rules of UPI in the beginning of August last month. At the same time, now once again the National Payments Corporation of India i.e. NPCI is going to make big digital payments easier through Unified Payments Interface i.e. UPI. Yes, this time it has been announced to increase the transaction limit. These new rules will come into effect from 15 September 2025 this month. That is, those running Gpay-PhonePe should know them now.

These new changes will be applicable especially on person-to-merchant i.e. P2M transactions. In simple words, if you pay insurance premium, pay loan EMI or invest in the market. However, the limit for person-to-person transactions i.e. sending money to family or friends will remain Rs 1 lakh per day as before. There will be no change in this right now. Let’s know what is changing in UPI limit…

What is changing in UPI limit?

• Capital Market Investment and Insurance : Here you will soon be able to do transactions of up to Rs 5 lakh per transaction instead of Rs 2 lakh and maximum of Rs 10 lakh in 24 hours.
• Government e-marketplace and tax payment: Its limit will also be increased from Rs 1 lakh to Rs 5 lakh per transaction.
• Travel booking: Now Rs 5 lakh per transaction instead of Rs 1 lakh, daily cap will be up to Rs 10 lakh.
• Credit card bill payment: Up to Rs 5 lakh at a time, but a maximum of Rs 6 lakh per day can be paid.
• Loan and EMI collection: Its limit will also be increased from Rs 5 lakh per transaction to a maximum of Rs 10 lakh per day.
• Jewellery purchase: After the new limit, you will be able to make payment of up to Rs 2 lakh per transaction instead of Rs 1 lakh, daily cap up to Rs 6 lakh.
• Term Deposit: After the new limit, here also you will be able to make Rs 5 lakh per transaction which was earlier Rs 2 lakh.

There has been no change in digital account opening, its limit will still remain 2 lakhs. Apart from this, foreign exchange payment through BBPS will soon be Rs 5 lakh per transaction and daily cap will be up to 5 lakhs. NPCI says that these changes will greatly benefit people and businessmen. This will also make it easier to make large digital payments. These changes will further promote cashless transactions.

LIC Vacancy 2025: Opportunity to get a job in LIC, salary will be 1.26 lakh, know how to apply…

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If you do many transactions daily, then this news is very important for you, because banks also have their own rules.

How much amount and how many times can I transact daily through UPI?

In UPI, a maximum of Rs 1 lakh can be transacted in a day. This limit applies to both Person to Person (P2P) and Person to Merchant (P2M). However, some banks have also imposed a limit on the number of transactions. For example, in SBI, a maximum of 20 P2P transactions can be done from one account in 24 hours. However, there is no limit on the number of P2M transactions.

In these cases the daily payment limit is more than Rs 1 lakh

If you are paying tax through UPI, applying for IPO, making payment under RBI’s Retail Direct Scheme or making payment to any verified hospital or educational institution, then you can transact up to Rs 5 lakh in a day. Apart from this, the daily limit for capital market, credit card payment, loan repayment, foreign transactions and insurance is Rs 2 lakh.

UPI Limit in SBI and HDFC Bank

Like SBI, HDFC Bank also has a limit of Rs 1 lakh or 20 transactions, whichever is completed first. This rule applies to both P2P and P2M. There is a ‘cooling off period’ for new users. Android users can send only up to Rs 5,000 in the first 24 hours, while for iPhone users this limit is up to 72 hours.

UPI Lite Limit

A maximum of Rs 1,000 can be transacted at a time through UPI Lite. A maximum of Rs 4,000 can be added to the wallet in a day and a maximum of Rs 5,000 can be kept in the wallet at any time. This facility is for small and everyday payments.

UPI123Pay Limit

For those who use feature phones or do not have internet, there is a facility of UPI123Pay. Through this, transactions can be done through IVR call, feature phone app, missed call or sound-based payment. In this, a maximum transaction of Rs 10,000 can be done at a time.

If you use UPI daily, then it is important to know these limits so that the problem of transaction failure can be avoided and big payments can be made on time.

The post UPI Transaction Limits Explained: How Much Can You Transfer Without Extra Charges? first appeared on Rightsofemployees.com.

How to get the benefit?

Experts of the Fintech sector say that banks are planning to make small loans available directly on the UPI platform. For this, apps like PhonePe, Paytm, BharatPe and Navi will be used. Big and small banks like ICICI Bank and Karnataka Bank are preparing to adopt it. The customer’s credit account will be directly linked to the UPI app, through which products like gold loan, loan against fixed deposit, consumer loan and personal loan can be used directly.

RBI’s green signal

Banks had asked RBI many questions for this new product, such as interest-free period, reporting of outstanding amount and method of sending information to credit bureau. RBI has now issued clear guidelines on all issues. After this, its testing has started at the initial level and it will be gradually taken to the customers by the banks.

Role of NPCI

The National Payments Corporation of India (NPCI), which runs the UPI platform, launched the facility of pre-sanctioned credit line in September 2023. Due to technical difficulties, it was not launched by most of the banks earlier. Now the situation has changed and banks have started adopting it. NPCI issued a notification to banks in July 2025 that the credit should be used only for the purpose for which it has been approved.

Importance of Credit UPI

Industry experts say that this move signals the next big phase of UPI. UPI has about 30 crore users, of which 15-20 crore are active. The introduction of credit line is expected to increase the usage of UPI and give it a new momentum. Fintech company Zeta estimates that by 2030, transactions worth up to $1 trillion could take place on UPI.

Risks also exist

A senior bank official says that if credit is not implemented carefully, defaults can increase. Recovering small loans can be challenging, so banks will have to pay special attention to security and monitoring.

This facility will not only provide easy and fast loans to customers, but will also strengthen the digital payment ecosystem. There is news of relief for customers taking small loans. The Reserve Bank of India (RBI) has issued guidelines, so that now customers will be able to avail small credit lines directly through UPI apps. This facility will be especially beneficial for those who do not have a bank account or for whom it is difficult to reach bank branches.

The post UPI to Offer Small Loan Facilities Soon – No Bank Visit Required! first appeared on Rightsofemployees.com.

UPI is being used for every purchase, big or small. If you don’t have money in your pocket but have a mobile phone, then you don’t need to worry. Payments for everything from vegetables to luxury items are being made using UPI. The biggest thing is that it is free. This means that you don’t have to pay any fee for making payments through it. The question is, will it no longer be free?

UPI cannot be free forever

RBI Governor Sanjay Malhotra made it clear on August 6 that the system behind UPI cannot remain free forever. While presenting the August monetary policy, he said that the real issue is to decide who is paying the cost of UPI payments. He said that the government has to take a decision in this regard.

Businesses currently bear the burden of MDR

He said, “I never said that it (UPI) will always remain free. He said this in response to a question related to Merchant Discount Rate (MDR) or such charges.” He was asked whether the burden of MDR can be put on the customers? First it is important to know about MDR. This is the fee that is levied by payment processing companies on shops or other businesses that accept payments through credit or debit cards.

Someone is paying the cost of UPI

Clarifying the situation, Malhotra said that I believe that this (UPI) cannot remain free forever. He said, “Someone is bearing the cost of this. The government is giving subsidy. But, somewhere the cost is being paid.” He said that he never said that the user will have to pay this cost. Instead, he seemed to be in sync with the government’s stance in this matter. Actually, the Finance Ministry has to take a decision on the issue of pricing and subsidy in this matter.

The use of UPI may be affected due to the fee

The RBI governor’s comments come at a time when reports have emerged that some banks have started charging for UPI payments routed through payment aggregators. Experts believe that if fees are levied on UPI transactions, its usage may be affected.

The post RBI Governor Clarifies: UPI Isn’t Free Now—and It Won’t Be Forever 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.

The post UPI users Alert: 7 Major Rule Changes Effective – Avoid These Mistakes to Prevent Payment Failures first appeared on Rightsofemployees.com.

Alert to UPI Users

If you use apps like Paytm, PhonePe and Google Pay, then it is very important for you to know this news. Actually, from August 1, many rules related to UPI are going to change, which is going to bring a big change in the lives of common people. Let’s know about these, due to which UPI is going to become even stronger and reliable.

Rule 1: New limit for balance checking

From August 1, 2025, UPI apps like Google Pay, PhonePe, Paytm etc. will allow only 50 balance checks per app per day. If a user uses two UPI apps like Paytm and PhonePe at the same time, he will be allowed 50-50 balance checks in both the apps, i.e. a total of 100 checks will be possible. But this will be limited for each app.

According to the new policy, these changes will now happen

According to this new policy, UPI Apps will be required to stop balance check API calls during peak hours (10 AM to 1 PM and 5 PM to 9:30 PM). During this time, the bank will have to send automatic balance updates after every transaction on behalf of the users so that users do not have to do “Balance Inquiry” again and again.

Rule 2: AutoPay mandates will now only apply during non‑peak hours

Starting August 1, AutoPay mandates set via UPI, such as OTT subscriptions (Netflix, Amazon Prime), SIP, EMI debit, etc., will now be processed only during non-peak times: before 10 AM, between 1 PM and 5 PM, and after 9:30 PM.

Rule 3: New restrictions on Transaction Status Checks

When a UPI transaction is pending or stuck, the bank or user often keeps checking the transaction status repeatedly. Now as per the rules applicable from August 1: The first transaction status check can be done only when at least 90 seconds have passed after the transaction is authenticated.

View status after 90 seconds

Avoid checking ||status|| repeatedly if the transaction is not visible immediately. If the status is not visible, check again after 90 seconds, and maximum three times. If the status is still not available, contact customer care. Repeated checking may slow down the system.

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Not only this, on July 16, you will not be able to do online money transfer through IMPS, NEFT and RTGS. Yes, the country’s largest government bank – SBI (State Bank of India) has issued an important information for its customers. State Bank of India has shared all this information from its official X account on Monday, July 14.

SBI’s online banking service will be completely shut down

State Bank of India said that the bank’s UPI, ATM, YONO, IMPS, RINB (Retail Internet Banking), NEFT and RTGS services will be temporarily closed for a total of 1 hour and 5 minutes from 01.05 pm to 02.10 pm on Wednesday, 16 July. State Bank said that all these services will resume after 02.10 pm and will work normally as before. State Bank of India said that maintenance work is to be done from 01.05 pm to 02.10 pm on 16 July, due to which all these services will remain closed.

Due to scheduled maintenance activity, our services UPI, IMPS, YONO, RINB, ATM, NEFT and RTGS will be temporarily unavailable from 01:05 hrs to 02:10 hrs on 16.07.2025 (IST). These services will resume by 02:10 hrs on 16.07.2025 (IST).

Meanwhile, customers are advised to use our…

— State Bank of India (@TheOfficialSBI) July 14, 2025

SBI customers can use UPI Lite

The country’s largest public sector bank said that this maintenance work was already scheduled. The bank has said that during the time the services are closed, UPI Lite can be used instead of UPI. Along with this, the bank has also apologized to its customers for this inconvenience. Let us tell you that now all banks provide online banking services to their customers and they have to maintain and update their online banking system from time to time, during which the system is maintained and updated, the services are closed for some time.

The post State Bank’s ATM, UPI, IMPS, NEFT Services will Remain Closed on This Date – Check Details first appeared on Rightsofemployees.com.

In the future, ‘India Stack’ solutions like DigiLocker, e-Sign and Government e-Marketplace (GeM) are also being considered for implementation there.

UPI has become a global identity

During Prime Minister Narendra Modi’s recent official visit to Trinidad and Tobago, he congratulated the country for adopting UPI. This is a significant achievement for India, as it is enhancing the global identity of UPI. It shows that India’s digital payment system is being accepted all over the world.

Which countries have India’s UPI?

With the addition of Trinidad and Tobago, there are now a total of 8 countries where the UPI payment facility is available. These countries also include France, Bhutan, Mauritius, Nepal, Singapore, Sri Lanka and the UAE. However, the service is currently available only at select merchant outlets, but it is expected to expand in the future.

When a country adopts UPI, it means that it is integrating UPI into its financial ecosystem. This allows their citizens and businesses to use UPI for transactions. This is either done in collaboration with Indian companies, or they develop their own UPI-like system.

Convenience for Indian Tourists

This is a big relief for Indian tourists visiting countries that have adopted UPI. They can make payments to local merchants directly from their Indian bank accounts through UPI-based apps like Google Pay or PhonePe. This will eliminate the need for them to exchange foreign currency and make the payment process much easier.

Benefits for NRIs and Local Citizens

NRIs or local citizens living in these countries can also take advantage of UPI. They can easily send money to India with the help of UPI, which will reduce the transaction cost and also speed up the process. This will make financial transactions between India and these countries easier.

These facilities can also be implemented.

There is immense potential for cooperation between India and these countries in the digital domain. This expansion of UPI is just the beginning. In the future, other solutions like DigiLocker, e-Sign and Government e-Marketplace (GeM) can also be implemented in these countries, which will further boost the digital economy.

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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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PhonePe HDFC Bank co-branded RuPay credit card is designed to meet the emerging financial needs of Indian consumers. It also offers benefits especially on UPI spending on the PhonePe platform.

Sonika Chandra, Chief Business Officer, Consumer Payments, PhonePe, said, “We are excited to launch our first co-branded credit card in partnership with HDFC Bank. This launch underlines our commitment to provide innovative financial solutions to our users. This card is designed to provide value to PhonePe customers on their regular spends, giving them 10 percent reward points on select categories such as bill payments, recharges and travel bookings.”

Also used with UPI merchants

This card will be easily used at crores of UPI merchants across the country. He said, “We are confident that our strategic partnership with HDFC Bank, combined with the benefits offered by this card, will redefine the credit card experience for millions of Indians.”

The strategic partnership between HDFC Bank and PhonePe also leverages their respective banking and fintech backgrounds to make the credit card accessible and user-friendly. These cards are available in ‘Ultimo’ and ‘UNO’ variants.

These will offer reward points across popular categories like recharges, bill payments, travel, online shopping, groceries and cabs. These cards also work seamlessly with UPI, allowing users to pay for their daily expenses through credit cards, as well as earn reward points on the card through a large merchant network on UPI QR.

What did HDFC Bank say?

Parag Rao, Country Head, Payments, Liability Products, Consumer Finance and Marketing, HDFC Bank said, “As India’s largest card issuer, we constantly strive to create effective and customized offerings for our customers. Our aim is to make credit accessible to as many people as possible. In collaboration with PhonePe, this card will make it accessible to more digitally active and technology-savvy consumers. This will make credit card usage even more profitable and accessible across multiple platforms, especially through UPI. UPI has now become a very important part of India’s digital payment ecosystem.”

Airport lounge facility is also available

The ‘Ultimo’ variant offers customers significant reward points, including 10% reward points on spending on PhonePe app, bill payments, recharges, travel bookings and Pincode app (PhonePe’s local delivery app), and 5% reward points on major online merchants. Users will also get 1 percent reward points on all UPI scan and payment transactions using the card and domestic airport lounge access twice every quarter.

The company said that eligible PhonePe users can apply for this credit card directly through the PhonePe app. The entire process will be digital. After the card is issued by HDFC Bank, customers can link it to PhonePe and make payments through UPI and also pay their card bill here. The company said that the card will be rolled out to eligible PhonePe users in a phased manner.

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The post PhonePe launched credit card, can be used in UPI also, know full details first appeared on Rightsofemployees.com.

UPI (Unified Payments Interface) is an instant payment system developed by NPCI to facilitate transactions between banks through mobile phones. According to the recent circular of NPCI, transactions including money transfer and refund will now be completed in 10 to 15 seconds instead of 30 seconds. In this way, from June 16, the time taken to verify the address in UPI payment will now take only 10 seconds as compared to the earlier 15 seconds.

How many times can you check the balance in a day?

NPCI said that the amendment in the process time is aimed at improving the customer experience. According to another circular of NPCI, customers will soon be able to check their account balance a maximum of 50 times a day through their UPI app. However, according to an expert, there is no limit on checking bank account balance in a day yet and the limit of 50 has been introduced keeping in mind the systemic efficiency.

SEBI has recently made changes in the rules for UPI transactions

Let us tell you that there have been many developments regarding UPI recently. On one hand, SEBI has said that the transactions done through UPI in the securities market are being strengthened in terms of security. To strengthen the investors, the market regulator is developing a new capability called ‘SEBI Check’. This new tool will enable verifying the authenticity of UPI identity by scanning the QR code or entering the UPI ID and verifying the bank details like account number and IFSC code of the registered intermediary.

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If you are a customer of the country’s largest government bank State Bank of India (SBI), then this news is very important for you. In fact, some of SBI’s digital banking services are going to be affected on June 8, 2025. However, these services will be affected at night. The reason for this is the maintenance activity of the bank. SBI has given this information to the customers through a tweet.

State Bank of India tweeted, “Due to scheduled maintenance activity, our services Unified Payments Interface (UPI), IMPS, YONO, Retail Internet Banking, NEFT and RTGS services will be unavailable on 08.06.2025 from 03:45 AM to 04:30 PM.” “These services will resume by 04:30 AM on 08.06.2025. In the meantime, customers are advised to use our UPI Lite and ATM services.

Alternative Solution:

UPI Lite: UPI Lite can be used for small transactions without a UPI PIN.

ATM: ATM service can be used for cash withdrawal and other basic banking services.

Periodic maintenance activities

Let us tell you that this is not the first time that SBI is doing this. The bank carries out maintenance activities from time to time. During this period, some services of the bank remain closed.

What should customers do?

• Customers are advised to complete their important transactions in advance to avoid inconvenience.
• Complete the use of UPI or YONO related services before the specified time.
• Stay alert and if you notice any suspicious transactions, contact SBI immediately.

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UPI services will be affected

Some digital services of the country’s largest private bank HDFC Bank will be disrupted for millions of customers on Sunday, June 8. UPI transactions (financial and non-financial) related to HDFC Bank’s current and savings accounts and RuPay credit cards will not be available. The bank said that during the downtime, customers can use PayZapp to complete their financial transactions.

Third-party apps will not work

UPI transactions on Google Pay, WhatsApp Pay, Paytm, and other third-party apps linked to HDFC Bank accounts will not work. Merchant UPI payments through HDFC Bank will also stop. These include net banking and mobile banking apps. In such a situation, you will not be able to see any kind of information related to the account through mobile applications. Nor will any deposit related work be done. Fund transfer (IMPS, NEFT, RTGS), instant account opening, and other digital banking services will also not be available during this time.

The bank has advised customers to complete important transactions in advance and use PayZapp Wallet, which is a secure digital wallet and virtual card, during this time. This maintenance is being done to improve the banking experience and increase the security and efficiency of the system. Customers are expected to cooperate and understand during this time.

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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?

The post UPI New Rule: NPCI has announced new rules for UPI, Effective from 30 June 2025 first appeared on Rightsofemployees.com.

According to NPCI, after the new change, the response time of UPI transactions will be reduced. According to the information given, the time taken to check the status of the transaction and reverse the payment will be reduced from 30 seconds to just 10 seconds. With this change, the process of sending and receiving money through UPI will become faster and smoother than ever.

Payment will be done in just 15 seconds

According to NPCI, the response time of Request Pay and Response Pay service will be reduced from 30 seconds to 15 seconds. Also, the time required to verify an address will be reduced from 15 seconds to 10 seconds. These updates are aimed at ensuring that UPI transactions are completed faster. NPCI has asked banks and payment service providers (PSPs) to update their systems to comply with the new timings.

There was trouble 3 times in 15 days

This update comes after the problems in UPI transactions in April. UPI transactions across the country were badly disrupted on April 12, which was the third incident in less than a fortnight. Earlier, there were problems in UPI transactions on March 26 and April 2. After this, Finance Minister Nirmala Sitharaman had directed all the concerned parties to work together to remove the shortcomings of the infrastructure, improve the end user experience and cyber security framework. Unified Payments Interface (UPI) is an instant payment system developed by NPCI, an entity regulated by the RBI.

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UPI Circle will be a kind of private group. You can add your friends and family members in this group.

PhonePe , a big digital payment company, has launched a new feature. Its name is UPI Circle. With this, people will be able to easily manage payments for their family and trusted people. You can create a group with UPI Circle. The main account holder in this group can make UPI payments on behalf of others. Even if a member’s bank account is not linked to UPI, he will still be able to make payments.

What is UPI Circle?

According to the Economic Times, this is a group where the primary user can make payments on behalf of someone else, even if those people do not have a bank account linked to UPI. UPI Circle is very useful for those who want to manage the payments of their family members. It is also good for those who do not have a bank account but want to make digital payments.

How does it work?

Secondary users can make payments using their UPI ID. But the primary user has full control. He can approve or reject payment requests. Can keep track of expenses. Can view payment history and can remove anyone from the group at any time.

What is the claim?

PhonePe’s Chief Business Officer (Consumer Payments) Sonika Chandra says that UPI Circle is a huge step. This will make digital payments easier for those who do not have a bank account or who are just learning to make digital payments. She said that the purpose of including UPI Circle in the PhonePe app is to make digital payments easy for everyone and everyone can take advantage of financial services.

It started in these apps too

Economic Times had reported last year that the National Payments Corporation of India (NPCI) was going to introduce this feature. Major payment apps like Amazon Pay, Google Pay and BHIM had also started its trial in September.

Preparing for listing in the market

The Economic Times also reported in February that PhonePe is preparing to be listed on the Indian stock market with the help of Walmart. However, no date has been set yet.

PhonePe CEO and co-founder Sameer Nigam said that the listing is taking some time. One reason for this is that according to NPCI rules, no UPI app can capture more than a certain market share.

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The new financial year 2025-26 will start tomorrow i.e. from April 1. With the start of the new year, many rules related to mutual funds, credit cards, UPI transactions, income tax and GST will change. These will affect investors, taxpayers and the common people. Therefore, if you are involved in mutual funds, credit cards, UPI transactions or income tax, then it is very important for you to know about these changes in the rules.

The Securities and Exchange Board of India (SEBI) has made changes to certain rules related to investment in mutual funds, which will come into effect from April 1, 2025. Funds raised under new fund offers (NFOs) will now have to be invested within 30 business days. If an asset management company (AMC) is unable to invest within this period, it can get a further extension of 30 days with the approval of the investment committee. If the investment is not made within 60 days, the AMC will be barred from taking fresh investments and investors will be allowed to exit without any penalty.

SEBI has introduced a new category called Specialized Investment Funds (SIFs), which will be a cross between mutual funds and portfolio management services (PMS). A minimum investment of ₹ 10 lakh will be required to invest in it. Only those AMCs whose average assets under management (AUM) has been more than ₹ 10,000 crore in the last three years can launch it.

DigiLocker Facility

From April 1, investors will be able to store and access their demat and mutual fund holding statements digitally in DigiLocker. This will reduce the problem of unclaimed assets and make it easier for the nominee to access the assets.

New tax slabs

The new tax slabs will be applicable from April 1. Under the new tax structure, the government has increased the tax-free income limit from ₹ 7 lakh to ₹ 12 lakh, which will be a big benefit to middle-class taxpayers. The new tax slabs in the new tax system will be as follows:

• Income up to ₹4 lakh – No tax
• ₹4 lakh to ₹8 lakh – 5% tax
• ₹8 lakh to ₹12 lakh – 10% tax
• ₹12 lakh to ₹16 lakh – 15% tax
• ₹16 lakh to ₹20 lakh – 20% tax
• ₹20 lakh to ₹24 lakh – 25% tax
• Income above ₹24 lakh – 30% tax

New GST and e-invoicing rules

From April 1, 2025, businesses with an annual turnover of ₹10 crore or more will be required to upload e-invoices on the invoice registration portal within 30 days. Earlier, this rule was applicable only to businesses with a turnover of more than ₹100 crore.

Unified Pension Scheme to be implemented

Unified Pension Scheme (UPS) will be implemented under the National Pension System (NPS) from April 1, 2025. This scheme will guarantee a fixed pension to central employees. Employees whose service is at least 25 years will get 50% of the average basic pay of the last 12 months as pension.

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These changes have been made to make UPI more secure and prevent fraudulent transactions. From April 1, 2025, such Paytm, Google Pay, PhonePe and bank accounts with linked mobile numbers that are not active are being closed. Along with this, Bharat Interface for Money i.e. BHIM app is going to launch its upgraded version in April. With BHIM 3.0, you will get the benefit of five new features.

1. Checking the mobile number

Banks and apps like Paytm, Google Pay, PhonePe will now have to update the “Mobile Number Revocation List” (MNRL/DIP) every week. This will reduce errors related to old or given numbers to someone else. If a mobile number is not used for 3 months (no calls, messages or data), then telecom companies give it to someone else. UPI IDs associated with such numbers will be deactivated. Users will have to keep the mobile number registered with their bank active.

2. Ban on “Collect Payment”

Collect Payment (sending a request to ask for money) on UPI will now be available only to large and verified merchants. The limit for Collect Payment among the general public has been set at ₹2,000 per transaction. This step has been taken to reduce fraud.

Keep these things in mind: If your mobile number has changed or has not been used for a long time, update it quickly in your bank and UPI apps. You will not be able to use Collect Request to make payments above ₹2,000. Instead, make a direct payment or pay the merchant.

New features to be added to BHIM app from April

Bharat Interface for Money i.e. BHIM app is going to launch its upgraded version in April. With BHIM 3.0, you will get the benefit of five new features. NPCI BHIM Services, fully controlled by the National Payments Corporation of India (NPCI), launched a new upgrade of BHIM UPI on Tuesday. BHIM 3.0 will be available in more than 15 languages ​​of the country. It is worth noting that the BHIM app is working on 22.6 crore Android phones and 88 lakh iOS platforms. At present, the number of UPI users in the country is around 30-40 crore.

The third version of the BHIM app comes with features like family mode to manage payments, the ability to work even in areas with weak internet connectivity, and a more user-friendly user interface (UI). This application will give users a completely new experience. Not only this, with BHIM 3.0, you can also monitor your monthly expenses by going to the dashboard, which will make it easy to know where and how much you are spending. This app will categorize all the expenses you make into different categories.

With BHIM 3.0, BHIM service has been launched for merchants. With the help of this, merchants will be able to make payments within the app and they will not need to go to any other app. According to NPCI, all these changes made in BHIM will be gradually introduced on all platforms. The company has also introduced ‘BHIM Vishwas’ scheme. It is currently under discussion for launch. BHIM has partnered with Bank of Baroda, Canara Bank, Karnataka Bank and Union Bank for its upcoming schemes.

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Now there are plans to use it for many other purposes as well. There is news that in the coming few months, you will also be able to withdraw EPFO ​​​​money through UPI. Work is going on rapidly on this. It is expected that this system will start in the month of June. Let us also tell you what kind of planning has come out.

EPFO money will be withdrawn through UPI

Moving into the digital sector, the Employees’ Provident Fund Organisation (EPFO) is preparing to launch a UPI-based claim process, which will allow EPFO ​​members to withdraw their provident fund instantly. Labor and Employment Secretary Sumita Dawra said that the move is being taken with the aim of improving efficiency and reducing transaction timing. In an interview to ANI, Dawra confirmed that the facility will go live by the end of May or June, which will be a major change in the way EPFO ​​members access their savings.

Withdrawal upto Rs 1 lakh

He said that after doing the necessary testing, we are hoping to launch the UPI frontend for EPFO ​​​​claims by the end of May. This will benefit all the members, as they will be able to view their EPFO ​​​​account directly in the UPI interface and make auto-claims. If the subscriber is eligible, the approval process will be instant, which will get the money in their account immediately. Davra told ANI that members will be able to withdraw up to Rs 1 lakh instantly through the auto system and choose their preferred bank account for transfer.

A new revolution will come in EPFO

Currently, EPFO ​​members have to go through a claim process that takes 2-3 days. After the UPI integration is launched, withdrawals are expected to be completed within a few hours or minutes. This facility is expected to revolutionise the Provident Fund process, just like UPI did for digital payments in India. Apart from faster withdrawals, EPFO ​​has also expanded the scope of use of funds.

Members can now withdraw funds for housing, education and marriage in addition to the existing illness provisions, Dawra said. To make this change possible, EPFO ​​has made a significant digital transformation. More than 120 databases have been integrated to streamline the claim process and 95 per cent of claims are already automated. The aim is to further simplify the process, reducing paperwork and delays.

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The most important thing is that these changes can change the way you save and spend. Here we will tell you which changes are going to be implemented from April 1.

UPI accounts will be closed

If you use UPI payment apps like PhonePe or Google Pay, it will become necessary to use these platforms regularly. From April 1, 2025, the National Payments Corporation of India will close UPI IDs that have not been used in the last 12 months. This will be done to prevent fraud and phishing scams.

Updates in the tax regime

Assessment year 2025-26 will officially begin from April 1. Now, the new tax regime has come into effect, although the previous old system (with 80C benefits) is still applicable. For this you have to opt for it.

If you do not declare the old tax regime while filing tax, you will automatically move to the new regime. If you want to claim deduction under 80C, plan your investments under 80C in advance.

PAN-Aadhaar linking is necessary for dividend

Often companies pay dividends on shares. From April 1, anyone without a PAN-Aadhaar link will not receive dividend payments. The deadline for this has expired long ago. So if these two documents are not linked, the TDS deducted from dividends and capital gains will increase. Worse still, no credit will be available in Form 26AS.

New rules for mutual fund-demat accounts

New rules made by SEBI for NBFCs regarding KYC for opening a mutual fund or demat account have come into effect. All users will have to re-verify their KYC and nominee information. Those who fail to follow these guidelines may have their accounts frozen.

These accounts can be unfrozen, but due to insufficient nominee details, redemption will be blocked.

Fuel and LPG rates

Fuel and LPG rates keep changing every month. This may happen in early April as well. However, it is not necessary that their prices change.

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If your bank account is also linked to a mobile number which is not active, then it will be removed. After this, you may face problems in making UPI payments.

The decision was taken because of this

NPCI has taken this decision in view of the increasing cases of cyber crime. National Payment Corporation says that mobile numbers which are no longer being used i.e. which are not active are creating technical problems in the banking and UPI system. If telecom operators have issued these numbers in someone else’s name, then this can increase the risk of fraud. The government’s job is to keep people safe and protect them from fraud.

It is very important to have a mobile number linked to the bank account to make UPI payments. The mobile number is a means of identification while making UPI payments. This means that whenever you make a payment, the mobile number ensures that the money is reaching the right person or not. If a number is not active and has been allotted to someone else, then there is a possibility of payment failure or it may reach another person’s account.

What to do?

If a mobile number is linked to your bank account which is no longer active or you have not recharged it for a long time, then you have to confirm with your telecom service providers (Jio, Airtel, Vi, BSNL) whether this number is active in your name or not. If the number is not active, then you should activate it immediately or change the mobile number linked to your bank account.

Recently, NPCI has instructed banks and UPI apps to update the list of deleted mobile numbers every week. This will ensure that after April 1, the inactive mobile number is removed from the banking system.

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Transactions through UPI and RuPay debit cards may soon be charged. This means that using UPI will no longer be free, you may have to pay extra for it.

In fact, according to a media report, the government is evaluating a proposal to bring back merchant charges on transactions made through Unified Payments Interface (UPI) and RuPay debit cards. If this happens, then digital payments will become expensive.

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For this you only need to have a registered mobile number or UPI ID. But for every UPI transaction you need a 4 or 6 digit UPI PIN, which confirms that the person making the payment is the right person. Till now, traditionally, a debit card was used to set the PIN, but now you have another option. And that option is your Aadhaar card.

Yes, you can set UPI PIN even without your debit card. In fact, very few people know that National Payments Corporation of India (NPCI) gives you two options to set UPI PIN. The first is the option of debit card and the second is the option of setting PIN through Aadhaar Card. Let us tell you how you can set your PIN number even without a debit card.

Here are the things required to set UPI PIN through Aadhaar card :

1. Your phone number must be linked to your Aadhaar number.

2. Your mobile number must be registered with your bank account.

How to set UPI PIN without debit card :

1. Open the UPI app and enter your bank account details.

2. Select the option to set up UPI PIN.

3. In this you have to select the Aadhaar option.

4. Enter the first 6 digits of the Aadhaar number to verify.

5. An OTP will come on your mobile, enter it.

6. You will be asked to create your UPI PIN.

7. Set up a new PIN and re-enter the OTP and your UPI PIN.

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These big changes to be implemented in the country with the first date of the new month include changes in the price of LPG gas cylinders to changes related to insurance premium payment methods.

Like every month , many rules are going to change on the first date of the next month i.e. from March 1, 2025, which will have a direct impact on the pockets of the common people. On the first date of February, there was a reduction in the price of 19 kg commercial LPG gas cylinder. Let us tell you that oil and gas distribution companies change the prices on the first day of every month and this can be seen this time as well.

Revision in Jet Fuel Prices

On the first of every month, the oil distribution companies revise the price of jet fuel i.e. Air Turbine Fuel (ATF). In such a situation, a change in the price of jet fuel can be seen on March 1. Let us tell you that the change in ATF prices can have a direct impact on the pockets of air passengers.

Insurance premium will be paid through UPI

Now paying insurance premium is going to be very easy. IRDAI has announced a new facility for premium payment. Its name is Bima-ASBA. This facility will start from March 1, 2025. This facility will be based on UPI. Crores of people using UPI will be able to use this facility.

The deadline to activate UAN is March 15.

The Employees’ Provident Fund Organization (EPFO) has extended the last date to activate the Universal Account Number (UAN) and link bank accounts with Aadhaar to March 15. This work is necessary to avail the benefits of EPFO’s ELI scheme.

Mutual fund investors can make 10 people as nominees.

SEBI has made a big change in the rules of nomination in mutual funds and demat accounts. According to the new rules, now investors will be able to make a maximum of 10 people as nominees in their demat accounts or mutual fund folios. This rule will come into effect from March 1, 2025.

Banks will remain closed for 14 days

The Reserve Bank of India has released the bank holiday list for March. According to this, banks will remain closed for a total of 14 days in March. In such a situation, it would be better if you check the list of bank holidays before going to the branch for the work left for March.

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The post New Rules from 1 March 2025: These 5 big changes will be implemented in the country from March 1, Check Details first appeared on Rightsofemployees.com.

Impact of increasing use of UPI

UPI has become the most popular medium of digital payment in India. Every day, crores of UPI transactions take place, through which transactions worth hundreds of crores of rupees are done. Most people use UPI for buying grocery items, mobile recharge, bill payment and other services. Platforms like Paytm, Google Pay and PhonePe are the biggest mediums of UPI payment.

Google Pay and Convenience Fees

Google Pay, the second largest UPI payment service provider in India, is now charging convenience fees on some services. However, most users are unaware of this additional charge. According to a report by the Economic Times , Google Pay has started charging on services that were previously free.

On which services will additional charges be levied?

According to the report, Google Pay has imposed convenience fees on payments such as electricity and gas bills. However, this fee is applicable only when the payment is made through credit card. Now additional fees will have to be paid for paying bills through credit or debit card. Earlier, companies were charging on mobile recharge, and now this scope can extend to other services as well. This fee can be from 0.5% to 1% of the transaction amount, which also includes GST.

Mandatory fee for card payments

Google Pay offers a variety of bill payment options, but the card payment option is not available for all transactions. If users pay bills using credit or debit cards, they will have to pay an additional fee. However, if they pay directly from a UPI linked bank account, they will not have to pay any additional fee.

Charges are already applicable on mobile recharge

Some companies are already charging different fees for using UPI for mobile recharge. Now this fee will not be limited to mobile recharge only, but can also be applicable on electricity bills, insurance premium, DTH recharge, railway and flight ticket booking, metro card recharge, fastag and other services.

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There will be changes especially in the rules related to LPG, banking, UPI, car prices and air travel. Let us know which new rules will be implemented from February 1 and how they will affect you.

1. Change in LPG gas cylinder prices

LPG gas cylinder prices are revised on the first of every month. Oil companies release new prices that apply to both domestic and commercial cylinders.

➤ In January, the price of 19 kg commercial cylinder was reduced.
➤ Now it remains to be seen whether the price of domestic cylinder will decrease or increase on February 1.
➤ If the price increases, the burden on your pocket will increase and if it decreases, you will get relief.

2. New rules related to UPI transactions

National Payments Corporation of India (NPCI) has decided to implement new rules related to UPI transactions.

➤ From February 1, 2025, transaction IDs containing special characters will not be accepted.
➤ Now only alpha-numeric (letters and numbers) transaction IDs will be valid.
➤ The transaction will fail if the wrong ID is entered.
➤ This change has been made to make UPI payments secure and systematic.

3. Maruti Suzuki cars will become expensive

The country’s largest car manufacturer Maruti Suzuki has announced an increase in the prices of some of its models.

: Car prices will increase by up to Rs 32,500 from February 1, 2025.
: Models whose prices will increase include:

➤ Alto K10, S-Presso, Celerio, Wagon R, Swift, Dzire, Brezza, Ertiga, Ignis, Baleno, Ciaz, XL6, Francox, Invicto, Jimny and Grand Vitara.
➤ If you are thinking of buying a new car, then you may have to spend more money.

4. There will be changes in banking rules

Kotak Mahindra Bank has announced changes to some of its services and charges which will be effective from February 1, 2025.

➤ The free limit of ATM transactions can be reduced.
➤ The charges for banking services may increase.
➤ Bank customers will have to avail services as per the new fee structure.
➤ If you are a Kotak Bank customer, you may have to pay additional charges.

5. Air travel may become expensive – change in ATF prices

Air Turbine Fuel (ATF) prices are revised on the first of every month.

➤ Air travel can become expensive if the price of ATF or aviation fuel increases.
➤ If oil companies increase prices, then the price of flight tickets can also increase.
➤ This will affect the passengers traveling by air in the country and abroad.

Impact of new changes on common man

➤ LPG prices increased – So gas cylinder will be expensive which may increase kitchen expenses.
➤ New rule in UPI transaction – Those making digital payments will have to ensure that their transaction ID is correct.
➤ Maruti cars expensive – If you are planning to buy a new car, then you will have to spend more money.
➤ Hike in banking charges – Kotak Mahindra Bank customers may have to pay more charges.
➤ ATF price increased – So flight tickets will be expensive which may increase the travel budget.

At the same time, these changes which will come into effect from February 1, 2025 will have a direct impact on the pocket of the common man. Some things may become expensive while the rules of some services may change. In such a situation, if you are associated with gas cylinder, car, banking services or air travel, then you must be aware of these changes. Now it remains to be seen whether the general public will get relief in the budget or inflation will increase!

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For this reason, people have adopted this payment system on a large scale in the country and in a very short time. You can easily send payment to someone’s account with the help of UPI on various applications. Not only this, UPI is also being used for bill payments, recharge, online shopping, and even small transactions. Apart from this, it has also played a big role in strengthening the Digital India campaign.

However, cases of fraud related to UPI keep coming up regularly. If you are also using UPI, then you must keep some things in mind, otherwise your slightest negligence can cause big losses.

If you are using UPI, do not share its PIN with anyone else. Also, do not write the UPI PIN on the phone cover or anywhere else. By doing this, you can become a victim of fraud.

Do not make payment by clicking on any unknown link. Many such cases come to light in which cyber thugs send unknown links to people and ask them to enter UPI PIN by clicking on it. According to them, by doing this money will come into the account of the concerned person. This is a fraud.

By doing this, all the money from your account can reach the account of the cyber thug. You should know that UPI PIN is entered only when money has to be sent to someone’s account. For this reason, you should not enter UPI PIN by clicking on any unknown link.

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The post UPI Safety Tips: These mistakes related to UPI can cause loss of lakhs of rupees, Key Details first appeared on Rightsofemployees.com.

Jio Sound Pay aims to transform the merchant experience by providing instant, multilingual audio confirmation for every UPI payment, enabling seamless and efficient business operations.

“Currently small and micro businesses pay around Rs 125 per month for a sound box. Now, with Jio Sound Pay being provided free of cost, Jio Bharat users will save Rs 1,500 annually,” officials said.

Media Release – Jio launches free-for-life sound-pay feature on Jio Bharat Phone

– Jio Sound Pay provides sound alerts for received UPI payments without the need for any sound box

“The Jio Bharat Phone, which was launched a year ago, is the world’s most affordable 4G phone available for just Rs 699. Thus, any merchant who buys a new JioBharat Phone can get the full value of the phone in just 6 months,” he added.

This initiative is focused on Digital India and aims to ensure that the benefits of technology reach entrepreneurs.

“To commemorate 75 years of India’s Republic, Jio presents contemporary renditions of Vande Mataram on JioSoundPay – a soulful tribute that blends timeless melodies with modern musical elements. Jio invites all Indians to experience this modern masterpiece by setting it as their JioTune via the MyJio app or JioSoundPay,” the officials said.

Jio President Sunil Dutt said, “Jio believes in leveraging technology to empower every Indian. With the free JioSoundPay feature on JioBharat and the soulful singing of Vande Mataram, we celebrate the spirit of India and reaffirm our commitment to creating a truly digital India.”

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UPI Fraud: As fast as India is becoming digital, cases of cyber fraud are also increasing across the country. As long as people are becoming aware of one type of fraud, a new method of fraud is coming to the fore. These days, cases of fraud in the name of UPI are also increasing rapidly. If you also transact through UPI, then you need to be very careful. Let us tell you that a large section of India uses UPI for online transactions. Crores of UPI transactions are taking place daily across the country, through which transactions worth hundreds of crores of rupees are taking place.

SBI issued a warning

The country’s largest public sector bank – State Bank of India has warned its customers through a text message and urged them to be cautious. SBI has written in the message, “Dear SBI customers, beware of requests for immediate refund of money after unexpected deposits. Do not approve collect UPI requests without verification.”

How is fraud happening in the name of UPI

Actually, many fake UPI apps have become available on the App Store, which look exactly like the real UPI. Cyber ​​criminals will make a transaction on your number through these fake apps and take a screenshot of it. After this, they will send a fake message on your number in the name of your own bank that money has been received in your account through UPI. Now these criminals will call you citing the screenshot and message and say that they have mistakenly sent money to your number through UPI. After this, they will give you their UPI number and ask for the money back as soon as possible.

All people using UPI need to be cautious

If this happens to you too, then be careful. If this happens, first of all you should not take any hasty steps. Now you have to check your bank account linked with UPI to see if you have really received the money or not. If you have not received the money, then directly call the cyber crime helpline number and lodge a complaint.

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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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With the new year, there will be many major changes related to personal finance and banking. Things that will change from January 1, 2025 include LPG prices, new facilities for UPI users and new facilities for EPFO ​​members. It is important for you to know about these changes that will take place from January 1, 2025, because not being aware of these changes can lead to missing important deadlines, due to which you may be deprived of the benefits of some schemes.

Let’s know what changes are going to happen in the banking sector to the personal finance segment and which changes will directly impact you…

LPG price changes:

The government changes the prices of LPG cylinders at the beginning of every month and in the last few days, there has been a fluctuation in the prices of 19 kg commercial LPG cylinders. The price of 14 kg subsidized cooking gas cylinders has been stable for a long time. It is expected that there will be a change in the prices of LPG cylinders at the beginning of the new year.

ATM facility for EPFO ​​members

Over 7 crore employees registered with EPFO ​​may get a special gift on New Year. It is possible that the central government may issue ATM cards to withdraw money from EPFO ​​like regular debit cards. According to a senior official of the Union Ministry of Labour and Employment, in a statement, the government is in the process of enhancing its IT systems to provide better services to the employees of the country.

UPI limit to be increased for feature phones

The Reserve Bank of India (RBI) has recently extended the UPI facility for feature phones that do not have internet connectivity. The UPI 123Pay facility enables feature phone users to make payments up to Rs 5,000 through UPI, but now this limit has been increased to Rs 10,000 and this change will be effective from January 1, 2025.

Changes in Fixed Deposits

RBI has changed the fixed deposit rules for non-banking financial companies and housing finance firms. The new FD rules will be applicable from January 2025.

Sensex, Bankex, Sensex 50 Monthly Contract Expiration Date

The expiration date of Sensex, Bankex and Sensex 50 index derivative contracts will be changed from January 1, 2025. According to the BSE announcement on November 28, the Sensex weekly contracts will expire every Tuesday from Friday from January 1, 2025.

UPI payments

can be made through wallets or other PPIs through UPI from January 1, 2025. Apart from this, Indians who want to apply for visas for countries like Thailand, America, Britain etc. should be aware of the new rules. Because a lot is going to change in this too from January 1, 2025.

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For this, people withdraw more cash from the ATM at once, but do you know how much maximum cash can be kept at home (Cash Limit at Home). If you do not know the rules, you may have to pay a fine. What is the income tax rule for keeping cash at home. Let us tell you.

How much cash can you keep at home

According to the Income Tax rules, you can keep as much cash as you want at home. But if the cash kept in your house is ever seized by an investigating agency, then you will have to disclose the source of this cash. If you have not earned money illegally, then you need not panic. You should have complete documents for this. If you have filed your tax return, then you need not panic.

There may be a fine

If you are unable to tell the source of the cash kept at home, then the investigating agency will take action against you. Your problems may increase. Let us tell you that after demonetization, the Income Tax department said that if undisclosed cash is found with you, then up to 137 percent tax can be imposed on the amount of cash recovered from you.

How much cash can you withdraw in a year

According to the Central Board of Direct Taxes, if someone withdraws more than 50 thousand rupees in cash at one time, he will have to show his PAN card. More than 20 lakh rupees can be deposited or withdrawn in a year. PAN and Aadhaar card will have to be shown if cash payment of more than two lakh rupees is made.

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Now UPI payments are being used in many countries of the world. Do you know that you can make UPI payments even from button phones/feature phones? Let us know how you can do this?

According to NPCI, feature phone users will be able to do UPI transactions through IVR number. For this, you have to call the IVR number (080-45163666, 08045163581 and 6366200200) and get your UPI ID verified. Now you have to make your payment after following the instructions given on the call.

UPI payment can be done through USSD without internet, just remember *99#
Apart from UPI 123Pay, there is another way to make payment without internet. You have to use USSD service. For this, first of all you have to dial ‘*99#’ on your GSM smartphone and follow the instructions. However, not all mobile service operators support this service.

What is UPI?

A facility like UPI for digital payment allows you to transfer money easily from home. For this, you need UPI supporting apps like Paytm, PhonePe, Bhim, GooglePay etc. The special thing is that UPI allows you to transfer money even if you have only one information out of scanner, mobile number, UPI ID.

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A new facility has been started for customers using UPI. Under this, they can now deposit cash in ATMs using UPI. A debit card will not be required for this. Currently, Axis Bank and Union Bank of India have started this facility for their customers. Soon this service will gradually be available in all ATMs.

RBI has launched UPI-ICD service in collaboration with National Payment Corporation. In this, cash can be deposited in cash deposit machine using UPI app. According to NPCI, this facility will be available with other ATM operators besides banks.

What are the options right now

Currently, customers have two options to deposit cash in bank accounts – visiting the bank branch or depositing cash through ATM using their debit card.

How to deposit cash in ATM

First of all, locate the ATM in your area where the cash deposit machine is installed and the facility is available.

Select the cash deposit option on the screen and press OK. Then enter the mobile number linked to UPI, Virtual Payment Address or IFSC code of the account.

This work can also be done by scanning the QR code given on the screen.

Then place the money in the slot and enter the number of notes for each denomination.

The amount deposited will be visible in the UPI app. Verify the amount being deposited through the app.

Authorize the transaction with UPI PIN. You will receive a receipt after the cash is deposited.

People’s trust in UPI payment increased

The use of UPI is increasing rapidly in the country. In August, transactions through UPI were 58% higher than the same period last year. On the other hand, people are adopting Bharat Bill Payment System (BBPS) for safe payment of gas, electricity, DTH and other bills. This shows that people’s trust in online transactions is constantly increasing.

RBI data shows that transactions through UPI have increased by 35 percent between April and August in the current year, after which transactions worth Rs 101 lakh crore have been done through UPI. During this period, NCPI has also expanded the UPI service. UPI Person to Merchant (P2M) facility was also started in Nepal from March 2024. Since then, more than one lakh transactions have been done through UPI in Nepal. Along with this, the use of Fastag and National Common Mobility Card has also increased rapidly with the facility of auto payment and wallet payment.

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In today’s time, we use UPI for payment of every small item. UPI proves to be very helpful in our daily life. Digital payment is very popular in India. UPI has become the most used tool. Along with being easy for payment, UPI is also easy for fraudsters to carry out fraud.

But did this question come to your mind that how much payment can we make through UPI. What is the payment limit? Let us know what is the last limit for payment in RBI guidelines?

RBI has increased the tax rate on transactions done through UPI from 1 lakh to 5 lakh. In this, property tax, advance tax and individual income tax payers can pay up to 5 lakh rupees in a single transaction. And property tax, advance tax and individual income tax payers can pay up to 5 lakh rupees in a single transaction. The limit for making payment to any person is only 1 lakh rupees.

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Reserve Bank of India Deputy Governor T. Rabi Shankar launched the new UPI Interoperable Cash Deposit (ICD) facility at the Global Fintech Fest (GFF).

National Payments Corporation of India (NPCI) said that this facility will be available on ATMs of banks and White Label ATM Operators (WLAO). The specialty of this feature is that customers will not need an ATM card for this. Instead, cash can be deposited through cash recycler machines. NPCI says that as banks gradually start these facilities, users will be able to take advantage of them.

You will be able to deposit money like this

1. Find a cash deposit machine (CDM) that supports UPI transactions and choose the ‘UPI Cash Deposit’ option instead of the debit card option.

2. A QR code will appear on the screen.

3. Open the UPI app on your phone. Scan the QR code displayed on the cash deposit machine.

4. The deposit amount detected by the CDM will be displayed on the UPI app. Verify if the cash you are depositing matches.

5. Select the bank account you want to deposit cash in from the list of your UPI-linked accounts and enter the UPI PIN.

6. You will then receive a cash deposit slip.

Also Read: New FD Rules: Depositors may able to open fixed deposit FD for 20 years

Customer will get this benefit

Customers will benefit a lot from the introduction of this facility. They will neither have to go to the bank to deposit money nor will they have to go through a long process in the line of the cash deposit machine. You can go and deposit money anytime. Let us tell you that you can also withdraw money from the ATM through UPI. ATM card is not required for this also. By following a simple process, you can withdraw cash from the ATM without a card with the help of UPI.

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Reserve Bank of India Governor Shaktikanta Das on Friday launched the UPI Circle feature at the Global Fintech Festival (GFF), 2024. While launching this feature, Shaktikanta Das said that through this feature, now two people can easily do UPI from one bank account. The introduction of this feature will increase digital payments.

Now NPCI has added ‘UPI Circle’ feature in UPI. In this feature, those users can also use UPI whose bank account is not linked to UPI. In this article, we will give you every information about UPI Circle.

What is UPI Circle?

UPI Circle is a feature in which users can make UPI payments even without a bank account. This feature will prove to be very beneficial for those users who do not use online banking.

For payment through UPI Circle, the user will only need mobile number and OTP. With this feature, family or friends will also get the facility of financial transactions.

How does UPI Circle work

There are primary users and secondary users in a UPI circle. The user who has a UPI ID is called the primary user, while those who are linked to the UPI circle are called secondary users. Secondary users can also easily avail the facility of UPI payment.

Understand it like this that the primary user gives the power to use UPI to the secondary user. He can easily make payments from the primary user’s account. The primary user gives permission to the secondary user whether he can make partial or full UPI payment or not.

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For example, if a father adds a son to his UPI ID under UPI Circle feature, then the father has the option to assign either partial or full payment to the son.

UPI Circle Benefit

• This will prove to be very beneficial for those who want to monitor digital transactions. If parents want to monitor their children’s UPI payment transactions, then this is possible through UPI Circle.
• It will be very easy to manage the bank account of the child or parents through UPI Circle. There will be no conflict in managing the account like UPI transactions.
• If someone is running a startup or a company, then through UPI Circle, one can make 5 lob bill payments from one account. Even the details of all payments will be kept in one place.

Disadvantage of UPI Circle

UPI Circle is as beneficial as it has disadvantages. Actually, in this feature, the secondary user is completely dependent on the primary user for UPI payment. Apart from this, before making any transaction, the secondary user will have to take permission from the primary user.

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However, many times people accidentally transfer money to someone else’s UPI ID or account. If something like this happens to you too, then there is no need to panic.

Keeping these things in mind, the Reserve Bank of India (RBI) has issued new guidelines addressing the concerns related to wrong transactions on UPI. Under the new rules, if you transfer money to the wrong UPI ID, you can get your money back within 24 to 48 hours. When both the sender and the receiver use the same bank, the refund process is faster. However, if different banks are involved in the transaction, the refund process may take longer.

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Here are 5 Ways to Recover Money Sent to the Wrong UPI Address:

• Contact the Recipient: Reach out to the person who received the funds by mistake and request a refund. Provide them with the necessary transaction details and ask for their cooperation in returning the money.
• Contact UPI App Customer Support: Report the incorrect transaction to the customer support team of your UPI app. Share all relevant information and evidence of the transaction. They can assist in initiating the refund process.
• File a Complaint with NPCI: If you cannot resolve the issue through the app’s customer support, file a complaint with the National Payments Corporation of India (NPCI). Provide them with the transaction details and supporting evidence for further investigation.
• Seek Help from Your Bank: Inform your bank about the erroneous transaction. Provide them with all necessary details and documentation. They can help initiate a chargeback process to recover the transferred funds.
• Call the toll-free numbers: In case of a wrong UPI address transaction, you can call on toll-free number 1800-120-1740.

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HDFC Bank UPI Update: If you are a customer of private sector HDFC Bank, then there is a big news for you. On July 13, HDFC customers will not be able to use some services including UPI. Actually, HDFC Bank will upgrade the system on July 13, due to which the UPI service of the bank will also be temporarily affected. Also, in the meantime, customers will not be able to check their bank balance.

It’s time for a system upgrade

The purpose of the system upgrade is to improve the performance and capabilities of the bank and to increase reliability. According to the bank, the time for the system upgrade is 3 am on July 13 and it will be completed by 4.30 pm on the same day. During this period, customers will not be able to avail some services. UPI services will be closed at two specific times.

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These services including UPI will remain closed at this time

According to the information, on July 13, UPI service will not work from 3:00 am to 3:45 pm and from 9:30 am to 12:45 pm. Netbanking and mobile banking services will not be available during the entire upgrade period. Apart from this, all fund transfer modes including IMPS, NEFT, RTGS will also not be available during the upgrade period.

Transactions will continue through debit card and credit card

During the system upgrade period, customers can withdraw cash from any ATM using their HDFC Bank debit card or credit card. At the same time, the bank balance will be shown based on the balance at 7.30 pm on July 12. Apart from this, customers can continue to use their HDFC Bank debit card or credit card on swipe machines at shops. HDFC debit card and credit card can continue to make online purchases, reset PIN or do other card activities.

Advice from the bank

To avoid any kind of disruption, the bank has advised to withdraw sufficient amount and complete all the necessary work like fund transfer etc. before 7:30 pm on 12 July 2024. To reduce the inconvenience, this work will be done by the bank on Saturday, 13 July 2024. Banks will remain closed on this day due to being the second Saturday. For more information and updates, visit HDFC Bank website or contact customer service.

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In support of cross-border retail payments, the country’s central bank RBI has joined Project Nexus. This will enable domestic fast payment systems (FPS) like UPI to make money payments between people across borders. From next year, the fast payment systems of the Philippines, Malaysia and Thailand will be linked to UPI, which will enable citizens of these countries to make digital transactions of money through UPI. Indonesia can also join the UPI payment system in the future.

Signing the agreement on Sunday, RBI Governor Shaktikanta Das said, “In my view, the biggest benefit of Project Nexus will be that it will make cross-border payments much faster and less expensive. It will also lead to greater international cooperation between countries to speed up cross-border digital transactions at a lower cost.”

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Digital payments will get a boost

RBI has joined Project Nexus to enable cross-border retail payments through UPI and FPS of several countries. Governor Shaktikanta Das has expressed hope for a reduction in costs in line with the World Bank’s assessment. This initiative involves BISIH and aims to collaborate multilaterally to increase payment efficiency and speed, which will benefit person-to-person and person-to-merchant transactions.

RBI Governor Shaktikanta Das emphasised the benefits of Project Nexus, which aims to integrate UPI with fast payment systems of countries such as Malaysia, Philippines, Singapore and Thailand, with Indonesia to join later. The initiative aims to improve cross-border payment efficiency, promoting international collaboration for faster and more cost-effective transactions.

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In fact, the bank has informed its customers that its net banking and mobile banking will not work for some time on May 25. HDFC Bank has given this information to its customers by sending SMS.

According to this, ‘Scheduled Maintenance: Some transactions on HDFC Bank Net Banking and Mobile Banking App will be unavailable from 3:30 am to 6:30 am on May 25.’

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At the same time, the bank’s website states, ‘Accounts, deposits, fund transfers (NEFT, IMPS, RTGS and within bank transfers), online payments and some other transactions will not be available from 3:30 am to 6:30 am on May 25. During this time, customers will also not be able to make payments through UPI.’

Earlier on May 22, HDFC Bank had informed customers that card services would be affected due to scheduled maintenance. This included cash transactions from ATMs, pre-paid cards and credit card services. Also, in-store purchases, online transactions, prepaid card reloading were also not available.

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Digital payment systems like Unified Payments Interface (UPI) have revolutionized the way transactions are done. They have eliminated the use of cash in most cases by allowing one to scan a QR code and transfer the desired amount directly to the bank amount. From street vendors to retail chains, UPI is now everywhere in India because it makes

transactions so easy. Even after that, many times due to wrong type of UPI ID, the money gets transferred to someone else. We will also tell you what to do in such a situation so that your money can be recovered.

If money is transferred using wrong UPI ID

However, UPI is a safe payment system. Even after that, small mistakes made by you can cause financial loss. Entering wrong UPI ID and accidentally transferring money to someone else’s bank account are among the mistakes you might have faced. In such circumstances, most of us get nervous but according to Reserve Bank of India, by taking the right steps, you are recovering the money transferred to another account by entering wrong UPI.

You can recover your money in this way

According to RBI, it is said that in case of unknowing transaction through digital services, the victim should first lodge a complaint in the payment system used.

You can take help from the customer care of applications like Paytm, Google Pay and PhonePe and request a refund.

If the payment system fails to resolve your issue, you can contact the Ombudsman for Digital Transactions set up by the RBI.

Complaint can be filed when the payment system does not timely comply with RBI instructions related to payment transactions through UPI, Bharat QR Code and others, such as failure to credit funds to the beneficiaries’ account or within reasonable time. Failure to return the amount within.

Anyone can complain to the Ombudsman when funds are wrongly transferred to the beneficiary’s account.

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UPI has made everything very easy and fast. By scanning the QR in a moment, your money is transferred (UPI Transfer) and payment is done with complete security. However, many times people mistakenly send money to someone else’s account. After that we are worried as to how we will get our money back.

If something like this happens to you too then there is no need to panic. We are giving some such tips. Through which you can easily get your money back. For this, you can complain by calling the service call center of the bank. Apart from this, you can also lodge a complaint online on NPCI portal.

What to do when UPI payment goes wrong

As soon as an incorrect UPI payment is made, the first thing to do is call the customer service center of the bank. If you want, you can also contact the UPI service provider. Complaint can also be made by calling toll free number 18001201740. In which complete information about payment will have to be given.

RBI had also informed people about this. According to RBI rules, you can get refund quickly by first informing your payment service provider about the wrong payment. You will have to inform about the matter by calling the customer care support of GPay, PhonePe, Paytm or UPI app.

Complain on NPCI portal

If you do not get help from customer service then you can complain on NPCI portal. For this follow the steps given below. First of all go to the official website of NPCI. Then click on Get in touch. After this enter all the requested information. In this, all the information like name, email ID will have to be filled.

After submitting this, select Dispute Redressal Mechanism if the fire increases. Enter the transaction details under the complaint section. Which will include UPI transaction ID, virtual payment address, amount transferred, date of transaction, email ID and mobile number. Where the reason will be asked, select Incorrectly transferred to another account. After this submit it.

When to complain

When a wrong transaction happens, you have to complain immediately. It is necessary to complain within three days of the transaction. After this, there is no guarantee of getting the money back if you complain.

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UPI Cash Deposit: If you also use UPI then this is good news for you. Reserve Bank has taken a big decision regarding UPI (RBI upi). Now you will soon be able to deposit cash through UPI (upi cash deposit news). The Reserve Bank of India will soon provide the facility of depositing money in cash deposit machines through UPI (Unified Payment Interface).

Apart from this, PPI (Prepaid Payment Instruments) card holders and bank account holders will also get the facility of payment. Let us tell you that it has also been proposed to provide these people the facility to make UPI payment through third party UPI app.

Good news heard in MPC meeting

While presenting the first monetary policy review of the current financial year, RBI Governor Shaktikanta Das has said that you can avail the benefit of cardless cash deposit by using UPI in ATM. You can deposit money in the cash deposit machine.

Cash withdrawal facility available now

Let us tell you, at present the facility to withdraw cash through UPI is available from ATM. You can easily go to any bank and withdraw money by using cashless facility at ATM.

Debit card is used

Apart from this, it has also been proposed to allow the use of third party UPI apps for making UPI payments from PPI (Prepaid Payment Instruments) wallets. Currently, UPI payment through PPI can be made only using the website or mobile app provided by the PPI card issuer.

Das has said in the statement that this will help PPI card holders to make UPI payments like bank account holders. This will make things easier for customers and will promote digital mediums for small amount transactions. RBI will soon issue guidelines regarding these measures.

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The first MPC meeting of the Reserve Bank of India of the business year has taken place. Today Shaktikanta Das of Reserve Bank has announced the decisions taken in the meeting.

While people’s eyes were on the repo rate, the Central Bank Governor gave an important decision regarding UPI. He said that soon UPI users will also be able to deposit cash through UPI.

In this facility, cash will be deposited in the ATM machine through UPI. If you understand in simple language, cash deposit will happen through UPI. Even third party apps will soon be approved in UPI. In this, users will get the facility of UPI transactions from Prepaid Payment Instrument (PPI) wallets.

TRAPs will be approved for UPI payments in prepaid payment instruments.

The Reserve Bank is also taking steps to promote the Retail Direct Scheme in the Government Securities market. For this, RBI Mobile App will be launched. With all these changes in UPI, UPI users will get a lot of facilities. Along with this, digital transactions will also get a boost in the country.

While the user will get the benefit, the bank will also get convenience in handling the currency.

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Jio UPI Payments: After creating history in the telecom sector, Mukesh Ambani is now planning to enter the UPI sector soon. Due to Jio’s entry into this segment, PhonePe and Paytm are going to get a big competition. Jio gained customers in the telecom sector by providing free data and calling facilities and later captured the market.

According to the news of ET Now, Jio is planning to launch Soundbox in the market soon. Jio has started selling Soundbox at retail outlets. This will directly compete with Paytm Soundbox.

Paytm crisis can be beneficial

Soundbox will soon be added to Mukesh Ambani’s Jio Pay app. According to the report of ET Now, the trial of Soundbox has also started from Jio. At present, many apps are already available in this segment. At present, Mukesh Ambani may get the benefit of the big action taken by RBI against Paytm.

Customers can get attractive off

Mukesh Ambani can also give many attractive offers to the customers to capture the UPI market. Due to this plan of Jio, the concern of other companies is increasing a lot. Jio can easily take advantage of the ban imposed on Paytm.

Flipkart is also providing facility

At present Phone Pay, Google Pay, Amazon Pay and Paytm app are available in the market. At the same time, recently Flipkart has also started the facility of UPI service in the market. Flipkart has started UPI facility in collaboration with Axis Bank. The company has launched UPI handle (@fkaxis). At present it is available only for Android users.

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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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PFRDA has allowed subscribers investing in NPS to make their investments through Unified Payment Interface (UPI) QR code. In a statement from PFRDA, it was said that the purpose of this step is to simplify the investment process. With this, the system will be made easier and better for investors opening NPS accounts.

Investment can be done through UPI QR code

NPS has long been a reliable savings tool for people who want to secure their future. It said that this initiative of PFRDA empowers NPS subscribers to take control of their retirement savings and benefit from a systematic investment plan. Under the new system, customers will be able to use UPI QR code to transfer their contribution.

Currently, subscribers are given the option to invest directly through their bank account using D-Remit. D-Remit ID consists of 15 digits, which has to be added as beneficiary in Internet Banking while transferring voluntary contribution from the savings bank account of the customer. According to the circular issued by PFRDA, ‘De-remit option is used by investors. Till now, about 10 lakh different D-Remit IDs have been created.

NPS subscribers can invest in NPS account through de-remit based quick response (QR) code. Customers can invest using any UPI-enabled application by scanning the QR code. The QR code will be different for every customer, which you can save offline to make payment. As per PFRDA circular, QR codes are different for Tier I and Tier II.

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According to media report, mutual funds have also been included in its scope. NPCI has provided the facility of UPI AUTOPAY for recurring payments. With this new feature, customers can now enable recurring e-mandate using any UPI application for recurring payments like mobile bills, electricity bills, EMI payments, entertainment/OTT subscriptions, insurance, mutual funds etc.

These were also included in the scope of payment

According to the news, till now there has been relaxation in ‘Additional Factor of Authentication’ (AFA) while executing e-instructions/standing instructions on cards, prepaid payment instruments and UPI (Unified Payments Interface) for recurring transactions above Rs 15,000.

There is approval. In a circular issued on ‘Execution of e-instructions for recurring transactions’, RBI said it has decided to increase the per transaction limit for mutual fund subscription, payment of insurance premium and credit card bill payment to Rs 1,00,000. Has gone.

Governor Shaktikanta Das had announced

Reserve Bank Governor Shaktikanta Das, during the bi-monthly monetary policy review last week, had announced increasing the limit for automated transactions through UPI from Rs 15,000 to Rs 1 lakh. With more than 11.23 billion transactions in the month of November, UPI has emerged as the preferred method of digital payment for a large section of the population.

Unified Payments Interface (UPI) is a system that powers multiple bank accounts into a single mobile application, merging multiple banking features, seamless fund routing and merchant payments under one hood.

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UPI ID is one such technology. Which was made by Indians only. In our country, lakhs of people use UPI every day. Also make payment through this. UPI was launched by National Payments Corporation of India (NPCI) in the year 2016. UPI is the most used system today. These days, there is a rise in online payments also. In such a situation, many people want to get more and more information about it. In such a situation, do you know how many UPI IDs can be created from one bank account?

Let us tell you that UPI is an intermediate real time payment system. Its biggest feature is that many different bank accounts can be linked to a single mobile app of UPI. You can transfer money and make payments to any merchant from the same mobile app.

How many UPI IDs can be linked to one bank account?

4 UPI IDs can be linked to one bank account. You can delete this UPI ID whenever you want. Not only this, you can also create multiple different UPI IDs on the same bank account. If you want to run UPI through Google Pay, then link it to a bank which supports UPI. On UPI app you have to create VPA or Virtual Payment Address. VPA varies from service provider to service provider. Like if the phone has UPI then its VPA will be your mobile number @ybl. If Google Pay has a VPA, its address will be your name @obbankname.

Know how separate accounts are created?

All UPI users have to create a VPA or User ID. It is linked to his bank account. This ID or mobile number is shared with the person from whom you have to take money. Due to this, money is deposited in the account. Multiple bank accounts can be linked to a single mobile app. However, each bank account will have its own separate UPI ID. One of these will be the primary bank account. In which you will receive money. While making payment, you will see different bank account options. You can give money from whichever account you want.

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Alert system for such cases

A report in Business Today quoted Finance Ministry sources as saying that financial institutions can adopt rapid alert system for digital payments above a limit. According to the report, banks and other financial institutions can adopt rapid alert system for digital payments of more than Rs 5000. According to sources, this alert will be fully implemented only in case of new users or vendors.

Verification in this way

Under this alert system, when a user makes a payment of more than Rs 5000 through UPI to another user or vendor for the first time, he will receive a verification message or call as soon as he initiates the payment. Verification message/call will come before the money is debited from the account. Money will be deducted from his account only after verification. In this way, payment will be automatically stuck in doubtful cases.

Alert system is not new

This type of alert system is not being applied for the first time. Many financial institutions have already adopted such systems. Finance Ministry officials say that many financial institutions are already using such alert systems for high value transactions.

Consider time limit also

Earlier there were reports that the government may impose time limit in the case of UPI payment. Under this, it was being told that it would be possible to make payment at least 4 hours after adding a new user or vendor. However, the government has not yet given final approval to neither the minimum time limit nor the rapid alert system.

Lakhs of numbers have been closed

The government has already adopted a strict attitude regarding digital banking fraud. Under this, lakhs of mobile numbers have been blocked as an initial step. Financial Services Secretary Vivek Joshi, after a meeting with bank officials, had said on Tuesday that the government has already suspended 70 lakh mobile numbers due to their involvement in suspicious transactions. The government has also made the rules regarding SIM cards stricter from December 1. All these measures can prove successful in curbing digital banking fraud to a great extent.

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In view of the increasing cases of financial fraud through digital transactions, Modi government is going to bring a big scheme. The government is going to introduce a security measure on digital payments to reverse transactions within four hours. Under this, for the first time a limit of 4 hours is likely to be imposed for digital transactions of more than Rs 2,000, including IMPS, RTGS and UPI.

“For the first time, we are considering adding a four-hour time limit for digital transactions above Rs 2,000,” a senior government official has said. “The Reserve Bank of India, various public And will be discussed during a meeting on Tuesday with government and industry stakeholders, including private sector banks and technology companies like Google and Razorpay.

The official also said, “After making a payment to someone for the first time, you will have four hours to reverse or modify the payment. This will be on the lines of NEFT (National Electronic Fund Transfer), where the transaction takes place within a few hours. It happens.”

“Initially we did not want to have any amount limit, but through informal discussions with the industry, we realized that this could impact small purchases like groceries etc. So we are limiting the amount to less than Rs 2,000,” he said. We are planning to give exemption for transactions of Rs.

Let us tell you that when a user creates a new UPI account, he can send up to Rs 5,000 in the first 24 hours. Same is the case with NEFT, where a maximum of Rs 50,000 can be transferred to the beneficiary in the first 24 hours after it is activated.

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If money goes from UPI to a wrong account then you should follow some steps.

Inform the bank

If the money has gone to a wrong account, then first of all you should inform it to the bank and explain the entire matter. You can also give this complaint to the bank through email and in writing. Apart from this, inform about this matter to the UPI app (like GooglePay, PhonePe and Paytm) which you have used.

Tell me soon

You should not cause any delay if money goes to a wrong account through UPI or any other online medium. The matter should be reported to the relevant authorities and agencies as soon as possible. This helps in taking further action quickly.

Banking Ombudsman

You can also complain to the Banking Ombudsman if the bank fails to take any action when money is transferred from UPI to the wrong account. This may help you get your money back.

Contact NPCI

If no action is being taken on your case even after informing the bank and the Bank Ombudsman, then you can also go to NPCI and complain. Let us tell you, the entire UPI network is operated by NPCI itself. It has been formed by the Reserve Bank of India.

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Now you can make UPI payment even without money in your account. To encourage digital payments in the country, the Reserve Bank of India has given its approval to the credit line service for UPI users. Now after this, users can make payment through UPI like credit card even without money in the account and can repay it later.

What is UPI Now Pay Later facility?

UPI Now Pay Later facility is a kind of credit line, through which you can make UPI payment even without money in the account. You can use this feature only when the bank gives you this facility. This facility is dependent on credit score. Through UPI, apart from your savings account, you can now link credit card, prepaid wallet, overdraft account and now also UPI credit line. Many banks like ICICI have also started the facility of UPI Now Pay Later.

In how many days will UPI Now Pay Later be paid?

Through UPI Now Pay Later, you can use credit line ranging from Rs 7,500 to Rs 50,000. The customer will have to pay this money within 45 days. If you fail to do so, you will have to pay a hefty interest rate of up to 42.8 percent along with late fees. You will also have to pay GST on this payment.

How to use ‘UPI Now Pay Later’

To use this feature, you will have to open mobile banking or net banking of the bank. After this you will have to go to the pre-approved loan section. After this you can avail the facility of UPI Now Pay Later from here. This facility will vary according to different banks.

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That is, now PNB customers can make payment to the merchant by scanning the UPI QR code through the PNB Digital Rupee app. You can use this service at any outlet. Users of the PNB Digital Rupee app can use their CBDC wallet to make purchases on UPI QR, even if they do not have a CBDC wallet. The app with this new feature is already live for Android users on Play Store and it will soon go live for iOS users as well.

Digital Rupee known as eRupee. It is issued by the Reserve Bank of India as a legal tender. It works like money. In any transaction, there is a 1:1 ratio of e-rupee and paper money in the transaction. This electronic wallet will work like a physical wallet on your device and will be linked to your bank account.

How to register for PNB Digital Rupee

Step 1: Download PNB Digital Rupee App from Google Play Store.

Step 2: Select the SIM card with the registered mobile number.

Step 3: Create your App PIN by clicking on Set App PIN.

Step 4: Select Wallet and click on Link PNB Account option.

Step 5: Fill in the debit card details and register.

Step 6: Once registered, you can start using PNB Digital Rupee.

Features of CBDC

CBDC is a currency issued in accordance with central banks and their monetary policy. It appears as a liability on the central bank’s balance sheet. It should be accepted as legal tender by all citizens, enterprises and government agencies as a means of payment. Issuance and transaction costs of currency notes are expected to come down.

Other banks that have launched CBDC

HDFC Bank, Canara Bank, Axis Bank and Yes Bank, Bank of Baroda and SBI have launched UPI interoperability.

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In fact, RBI has also announced to include pre-sanctioned credit lines issued by banks for transactions in the UPI system. This will also benefit the customers.

UPI payment

Till now, only deposits could be transacted through the UPI system. The central bank had proposed to expand the scope of Unified Payments Interface (UPI) in April. Under this, it was said to approve transfer from already approved loan facility in banks. At present, savings accounts, overdraft accounts, prepaid wallets and credit cards can be linked to UPI.

Reserve Bank said important thing

The Reserve Bank has also issued a circular on ‘Operationalization of pre-sanctioned loan facility in banks through UPI’. Many things have been said in this through RBI. Through RBI, it has been said that loan facility has also been included in the scope of UPI. The Reserve Bank said, ‘Under this facility, payment can be made through pre-approved loan facility issued to individuals through scheduled commercial banks with the prior consent of the individual customer.’

UPI transaction

According to the central bank, this can reduce costs and help in the development of unique products for the Indian market. Transactions on UPI, used for instant money transfer round the clock through mobile devices, crossed the 10 billion mark in August. The UPI transaction figure in July was 9.96 billion. At the same time, UPI payments are expected to increase further in the coming days.

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It has been named UPI Interoperability. With this initiative, now crores of people will be able to do digital rupee transactions directly through UPI. This new service of India’s largest bank is expected to increase the use of digital money.

The Reserve Bank of India had introduced digital currency some time back. CBDC is based on the same blockchain technology on which crypto currencies work. CBDCs are different from crypto currencies because they will have the same sovereign guarantee as paper currencies. No fee will have to be paid for transacting through e-Rupee or e-Rupee wallet. E-Rupee wallet can be opened for free and there is no obligation to maintain minimum balance.

Launching this service today, the State Bank said that this facility from the eRupee by SBI application will enable SBI CBDC users to easily scan the UPI QR code of any merchant for faster and secure transactions. HDFC Bank, Canara Bank, Axis Bank and Yes Bank have already started this service.

Beneficial for customers

Making UPI interoperable with digital rupee will be of great benefit to the customers. They will get another payment option. Customers can avail this service through eRupee by SBI app. With the help of this app, users can pay directly with digital rupees by scanning the UPI QR code at any shop or anywhere. Integrating CBDC with UPI will increase the use of digital currency among people.

The announcement was made in the last budget.

Finance Minister Nirmala Sitharaman had announced the introduction of CBDC in the budget for the financial year 2022-23. The Reserve Bank of India started testing the Central Bank Digital Currency from December 1, 2022. Presently, along with private sector banks, almost all the major banks have joined CBDC. The joining of SBI is special because it is far ahead of all other banks in terms of number of customers, number of branches and reach to remote areas.

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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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The trend of UPI payment is increasing in the country. At the same time, to make UPI payment easier and faster, digital payment and financial services company Paytm has given a new feature to the users on the app. The feature of ‘Pin Recent Payments’ has been added on Paytm’s app.

With its help, the users of the company will be able to pin the recurring payments. The pinned profile will remain at the top and payments can be made easily and quickly. Under the Pin Recent Payments feature, you will be able to pin only 5 contacts in the top.

Company spokesperson said that Paytm is at the top in mobile payments, so we keep bringing new features to improve the user experience in the app from time to time. The spokesperson said that the purpose of our ‘PIN Sampark’ facility is to enable users to make faster UPI payments. This service will save people’s time and efforts and they will be able to make UPI payments faster.

Now pin your favorite contact for even faster UPI payments! 📌 Only with #PaytmUPI 🚀

Read more here: https://t.co/s1XQssOj2B#Paytm #PaytmKaro

— Paytm (@Paytm) June 27, 2023

How to Pin Contact on Paytm

>> First of all update your Paytm app and open it.
>> Now tap on To Mobile or Contact in UPI Money Transfer.
>> After this, long press on the icons or on the search results.
>> Finally click on Pin.

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Users can generate UPI using Aadhaar through National Payments Corporation of India (NPCI). Also you can set your UPI PIN without using debit card. Right now the company has started this service with only a few banks. Which will soon start with all the banks.

This facility has been introduced to help a large number of users to create UPI ID and enable them to make digital payments.

Because the number of UPI users is increasing rapidly and the number of people paying through UPI is also increasing. After the launch of Aadhaar based UPI, Google Pay customers can set their UPI PIN without debit card .

This will make it easier for many users. Along with this, online payment will also increase.

How to use Aadhaar for UPI activation

1. First of all, users have to choose one of the available options.
2. Users who want to generate UPI through Aadhaar must have mobile number registered with UIDAI and bank account. Also, their bank account should be linked to Aadhaar.
3. After this, users can select the option to generate debit card and Aadhaar-based UPI.
4. When you select the option of Link with Aadhaar Card, you will need to enter the first 6 digits of Aadhaar Card to initiate the process.
5. After this OTP will come on your registered mobile number. After entering which the process will be completed.

What is UPI number?

UPI number is the phone number verified by the bank which represents your UPI ID. Through this, it helps in receiving and paying money from the users. No matter which app the user is on. You can create maximum 3 UPI numbers for one UPI ID. This can be your phone number or any 8-10 digit numeric ID of your choosing.

How to create UPI number

• Step 1: In the top right of the app, click on your profile.
• Step 2: Under “Payment Methods”, select the bank account for which you want to create a UPI number.
• Step 3: Click on “Manage UPI Number”.
• Step 4: Follow the on-screen steps.

When you create the ID as your UPI number, remember that your UPI number cannot be all the same number of digits (for example, all zeros). You also cannot use the same three digits at the end of your UPI number. Nor can there be a choice of numbers in the form of counting. (eg 123456)

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Public sector Bank of Baroda (BOB) has said that keeping in view the convenience of the customers, it has started Cardless Cash Withdrawal (ICCW) facility, in which a customer can withdraw cash from the bank’s ATM using UPI.

BoB released statement

BOB said in a statement that it is the first public sector bank to provide cash withdrawal facility from ATMs through UPI. The bank said that by taking advantage of its ICCW facility, customers of other participating banks using BHIM UPI (UPI) and other UPI applications along with their customers will also be able to withdraw cash from ATMs.

Will be able to withdraw cash from ATM

Customers will not need to use debit card to withdraw cash from Bank of Baroda’s ATM. To avail this service, the customer has to select the option of ‘UPI Cash Withdrawal’ at the Bank of Baroda ATM. Then after entering the amount to be withdrawn, a QR code will be displayed on the screen of the ATM.

Let us tell you that this code has to be scanned using the authorized UPI app for ICCW and authorized for the transaction. The bank’s chief digital officer Akhil Handa said the introduction of the ICCW service would give customers the freedom to withdraw cash without using a card.

Withdrawal of Rs.5,000 can be done

at BOB ATMs. Customers can do two transactions in a day and a maximum of Rs.5,000 can be withdrawn at a time.

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Online payments have become a convenient option to send money instead of standing in long queues at bank branches or ATMs while digital payments through Unified Payments Interface (UPI) are convenient and easy, though at times prone to errors Because wrong UPI ID or account number can lead to wrong transaction.

There are two common problems many people often face while making transfers online through UPI Payments – wrong amount transfer or transfer amount to the wrong person. However, in such cases one need not panic as the money can be easily obtained.

In case of wrong online payment, all you have to do is call the customer care of payment platforms like GPay, PhonePe, Paytm UPI. Register a complaint by sharing transaction details. In addition to this, you will also have to file a complaint with your bank.

Make a complaint

RBI guidelines state that in case of erroneous payment, the money can be refunded within 48 hours of the complaint. It is important to note that the complaint should be lodged within 3 days of the transaction. Similarly, whenever a payment is made to a wrong bank account through UPI or net banking, the first step is to call the number provided by the government or RBI and lodge a complaint.

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Give all the information, after that go to the concerned bank and fill a form, which has all the information. If the bank refuses to help, complain to the Ombudsman of the Reserve Bank of Indiabankingombudsman.rbi.org.in Do it.

Remember not to delete the transaction message from the phone as it contains the PPBL number which is required at the time of complaint. Do not forget to mention this number in the complaint form along with all other details and your complaint.

Be careful

In addition, you can also file a complaint about erroneous transactions through the website of the National Payments Corporation of India (NPCI), the body created by the Reserve Bank of India that provides UPI services. Always remember to be careful while entering the recipient’s UPI ID, their phone number, the amount being transferred and the UPI PIN of your account.

If any of these go wrong, you could end up sending the wrong amount to the recipient or the right amount to the wrong person and unnecessarily lose money. It is common to make a mistake while making a hasty payment, so avoid it at all costs.

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During the last few years, the prevalence of digital banking has increased significantly in the country. Easy availability of smartphones and internet has given a boost to digital banking. UPI has taken it to far-flung villages. This has made many banking operations especially money transactions possible in a jiffy. However, some dangers have also increased with this. There was a mistake of one digit that the money goes to someone else. Due to this many people have to suffer loss.

This precaution will reduce the mistake

If money goes somewhere else by mistake, it can be recovered if action is taken in time. Today we are going to tell you this. Before that, let us talk about some precautions, so that such mistake does not happen. Please double check the details before sending money anywhere. If you are sending through UPI, then after scanning the QR code or entering other details, the name of the account holder appears, confirm it. By doing this, the chances of making a mistake will be reduced and you will get rid of the later problems.

Must check email and message

After transferring money in any way, the message and email of money deduction comes. After transferring the money, do check the message and email. With this, you can immediately know whether the money has gone to the wrong account. If you have mistakenly sent money elsewhere, inform your bank without delay.

For this, the customer care of the bank can be called. The bank can ask you all the information regarding this on email. In the email, inform the bank about the details like transaction number, amount, account from which money was deducted, money transferred to which account by mistake, date and time of transaction.

RBI has done this measure

For such a situation, RBI has taken a big work measure. Whenever you do a transaction, in the message or email you get to inform you about it, banks ask whether you have done this transaction by mistake. The Reserve Bank has made it mandatory to ask this. Along with this, it is also necessary to provide a number or email in that message.

If the money is transferred by mistake or goes to the wrong account, then immediately complain on that number or email. This is the easiest way to get back the money deducted by mistake.

This precaution will reduce the mistake

If money goes somewhere else by mistake, it can be recovered if action is taken in time. Today we are going to tell you this. Before that, let us talk about some precautions, so that such mistake does not happen. Please double check the details before sending money anywhere. If you are sending through UPI, then after scanning the QR code or entering other details, the name of the account holder appears, confirm it. By doing this, the chances of making a mistake will be reduced and you will get rid of the later problems.

Must check email and message

After transferring money in any way, the message and email of money deduction comes. After transferring the money, do check the message and email. With this, you can immediately know whether the money has gone to the wrong account. If you have mistakenly sent money elsewhere, inform your bank without delay.

For this, the customer care of the bank can be called. The bank can ask you all the information regarding this on email. In the email, inform the bank about the details like transaction number, amount, account from which money was deducted, money transferred to which account by mistake, date and time of transaction.

RBI has done this measure

For such a situation, RBI has taken a big work measure. Whenever you do a transaction, in the message or email you get to inform you about it, banks ask whether you have done this transaction by mistake. The Reserve Bank has made it mandatory to ask this. Along with this, it is also necessary to provide a number or email in that message.

If the money is transferred by mistake or goes to the wrong account, then immediately complain on that number or email. This is the easiest way to get back the money deducted by mistake.

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Because Paytm Payments Bank has also enabled linking of RuPay Credit Card with UPI ID on Paytm app for the convenience of the customers. Paytm Payments Bank has announced several new features for Paytm UPI such as UPI Lite on iOS, RuPay Credit Card on UPI and Split Bill.

Paytm Payments Bank has gone live with UPI Lite, a feature enabled by the National Payments Corporation of India for small transactions. About 6 million customers are taking advantage of this facility. Explain that through the new split bill feature, users can create friend groups on Paytm and share the bill in any group.

These facilities for the customers

Paytm says that customers can also tag payments made on Paytm, with which they can see all the transactions done under a certain tag at any time. Paytm empowers customers with the security of UPI. Paytm Payments Bank President Vijay Shekhar Sharma says that he has also brought many good features like split bill, Paytm tag, alternate UPI ID on Paytm app.

Recently given the facility of UPI interoperability

Currently, Paytm Payments Bank has the largest market share in merchant payments and is the largest acquiring bank. Recently the bank announced UPI interoperability, which enables Paytm customers to send and receive money instantly to any mobile number with a UPI ID registered on the platform.

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RBI Governor Shaktikanta Das made this announcement during the meeting of the Monitoring Policy Committee. After the RBI meeting on Thursday i.e. April 6, Governor Shaktikanta Das said that the scope of UPI will be increased by allowing the operation of pre-sanctioned credit lines in banks. This will encourage innovation and increase access to credit for customers. RBI will issue detailed information about this later.

UPI payment facility under pre-sanctioned credit line

Currently transfers are done through deposits in UPI bank accounts. Along with this, money transactions are also done under wallet and pre-paid. At the same time, payment has also been allowed through Rupay credit card and now it has been proposed to increase the scope of UPI with the help of operation of pre-sectioned credit line. In other words, under the credit line, the facility of financial payment will be provided from UPI network banks.

Easy access to credit

RBI said that under this it can help in the development of some unique products of India. Along with this, its costs will also come down. RBI said that detailed guidelines will be issued later. Experts believe that this will make it easier for customers to access credit. Along with this, innovation and development will also be encouraged.

No change in repo rate

The Reserve Bank of India did not increase the repo rate in the first monetary policy meeting before the financial year 2024, which means that people have got relief from expensive loans. At the same time, from expanding the scope of UPI to unclaim portal and message alerts for CIBIL score, facilities have been introduced.

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Now the Ministry of Finance has given relief information. The ministry said that the government is not considering levying any charge on the UPI payment service.

The Finance Ministry tweeted, “UPI is one such digital platform which is highly convenient for the public and has a major contribution to the economy. No charges are being considered for the UPI payment service. Other options will be considered for cost recovery for service providers.”

UPI is a digital public good with immense convenience for the public & productivity gains for the economy. There is no consideration in Govt to levy any charges for UPI services. The concerns of the service providers for cost recovery have to be met through other means. (1/2)

— Ministry of Finance (@FinMinIndia) August 21, 2022

What is UPI
Let us tell you that UPI is a real time payment system, which allows instant transfer of money from one bank account to another bank account. The special thing is that you can transfer money through UPI anytime, night or day.

How UPI System of Money Transfer Works Using the UPI facility is quite easy. For this, you have to download any UPI app like Paytm, PhonePe, Google Pay, BHIM etc. in your mobile. You can use this system by linking your bank account with the UPI app. Through UPI, you can link one bank account with multiple UPI apps. At the same time, multiple bank accounts can be operated through one UPI app.

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We have become so dependent on UPI Payment Apps for our every transaction that we do many transactions in a day and then it is known that we have crossed the day’s transaction limit. But what is the transaction limit of UPI in a day? This question often comes in front of the customers and now it has been raised in the Parliament as well.

Question raised in Parliament regarding UPI Transaction Limit

Lok Sabha MP Dushyant Singh asked in a written question in Parliament whether there is any limit on the number of online transactions that can be done through a bank on UPI payment apps like Paytm, Google Pay and PhonePe in a day? Along with this, he asked some more questions, such as what are the details of this limit rule, what are the reasons for it? Do public sector banks only apply this limit? Will this hinder the Digital India mission or will the government consider removing these rules?

What was the government’s reply on UPI Transaction Limit?

Minister of State for IT Rajeev Chandrasekhar said that yes there is a limit on the number of online payments or transactions that can be done through the bank in a single day on the use of UPI payment. According to the latest guidelines issued by NPCI (National Payment Corporation of India) on January 10, 2023, only 20 transactions can be done in a 24-hour period from a bank account in P2P ie person-to-person category.

In which the time of the first transaction will be considered as the starting time. This limit has been fixed to protect the customer from possible financial fraud and to comply with the standards for the use of UPI.

In his written reply, the Union Minister said that this limit is applicable to public sector banks including member banks in the UPI UCO-system. The UPI limit is revised from time to time by NPCI to increase customer adoption of UPI and increase the penetration of digital payments.

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2But do you know how much amount you can transact with your UPI in a day. Yes, you can do only a fixed amount of transactions per day through your UPI payment app. Different banks have fixed an amount for this.

You can do this much transaction with UPI in a day

According to the official website of NPCI, a common customer can transact up to a maximum of Rs 1 lakh in a day through normal UPI. However, in case of some special categories like capital market, collection, insurance, foreign inward remittance, this limit is up to Rs 2 lakh.

Banks can fix this limit

According to NPCI rules, banks can fix mainly three types of limits for their customers. Different banks can make their own rules for this. In these rules, customers can limit the maximum transaction value in a day, maximum transaction in single time and maximum number of transactions in a day.

How much UPI transaction can be done from which bank

According to UPI payment app Google Pay, customers can do a maximum of 10 UPI transactions in a day. If you are the customers of most banks like SBI, Axis Bank, HDFC Bank, you can transact up to a maximum of Rs 1 lakh in a day.

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All banks have different limits, let ustell you that this limit is different for all bank customers. All bank customers including SBI, ICICI Bank and HDFC get different limits, through which you can transact money.

Let’s check which bank’s UPI Limit-
>> If you are an SBI customer, you can do a transaction of Rs 1 lakh through UPI in a day.
>> HDFC Bank customers can also do transactions up to Rs 1 lakh, but for new customers this limit is only Rs 5000.
>> ICICI Bank customers can do UPI transactions up to Rs 10,000, but for Google Pay users this limit is Rs 25,000.
>> Bank of Baroda customers can do transactions up to Rs 25,000.
>> Apart from this, Axis Bank customers can do transactions up to Rs 1 lakh.

RBI is making this plan, let us tell you that now RBI is making a new plan regarding UPI payment. The National Payment Corporation of India (NPCI) is preparing to limit the volume cap of the country’s Third Party App Providers (TPAP) to 30 percent. Talks are going on with the Reserve Bank of India in this regard. Only after the approval of RBI, companies like Phone Pay, Google Pay and Paytm will be able to fix its limit, due to which customers may have to face problems in the beginning. Although how much limit will be imposed on this, it is not yet decided.

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Through UPI, sitting at home, people are able to transfer money from one account to another through mobile number only. Recently UPI has become International. After the link of UPI of India and Penau of Singapore, now people can transact money from India to Singapore through mobile number only. In such a situation, if a person’s mobile phone is lost, then he may have to face a lot of trouble.

stop upi payment from bank account if mobile is stolen

Along with taking advantage of digital payment, it is also the responsibility of the users to take care of the precautions related to it. In such a situation, if your mobile is lost somewhere, then it is very important to stop the UPI payment from the bank account. If you do not do this, then your account can be empty in one stroke. Let us know what is the process of deactivating UPI from bank account.

How to deactivate UPI from your bank account-

1. If you want to deactivate UPI on your bank account, then first of all it is very important to keep in mind that you should not share your UPI PIN with anyone.
2. To deactivate UPI payment, first of all, call your mobile service provider and get your SIM blocked. Due to this, any message or OTP related to Mobile Banking will not be able to fall into wrong hands.
3. After this, to block UPI from your bank account, you can use your UPI app like Paytm, Google Pay, PhonePe, Amazon Pay, etc. by calling instant UPI service. Request closure.
4. After this, immediately register an FIR for the theft of your mobile. With this you will be able to stop the misuse of your mobile.
5. Along with this, by calling the customer care of the bank, stop Net Banking and Mobile Banking also immediately.

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Because the Reserve Bank of India (RBI) on Tuesday said travelers arriving from G20 countries can get UPI-linked prepaid payment instrument wallets at Bengaluru, Mumbai and New Delhi international airports and through it at over five crore shops in India. You can use UPI for payment. Explain that the transactions through UPI have increased by 1.3 percent on a monthly basis in January to Rs 13 lakh crore.

Earlier this month, the RBI had decided to allow foreign nationals and NRIs visiting India to use UPI (Unified Payment Interface) upon arrival in India. The central bank had said that it would be started with passengers from G-20 countries arriving at select airports (Bengaluru, Mumbai and New Delhi). Prepaid Payment Instruments (PPI) wallets linked to UPI will be issued to eligible passengers for making payments at outlets.

RBI says that representatives of G-20 countries can also avail this facility at various meeting places. Initially ICICI Bank, IDFC First Bank and two non-bank PPI issuers, Pine Labs Pvt Ltd and Transcorp International Ltd will issue UPI linked wallets.

You can pay by scanning the QR code

Along with this, RBI said that travelers coming to India can now pay through UPI at more than five crore shops across the country, which accept QR code-based UPI payments. G-20 is an intergovernmental forum of major developed and developing economies of the world. This includes Argentina, Australia, Brazil, Canada, China, France, Germany, India, Indonesia, Italy, Japan, Republic of Korea, Mexico, Russia, Saudi Arabia, South Africa, Turkey, United Kingdom, United States and the European Union.

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Now the Ministry of Finance has given relief information. The ministry said that the government is not considering levying any charge on the UPI payment service.

The Finance Ministry tweeted, “UPI is one such digital platform which is highly convenient for the public and has a major contribution to the economy. No charges are being considered for the UPI payment service. Other options will be considered for cost recovery for service providers.”

UPI is a digital public good with immense convenience for the public & productivity gains for the economy. There is no consideration in Govt to levy any charges for UPI services. The concerns of the service providers for cost recovery have to be met through other means. (1/2)

— Ministry of Finance (@FinMinIndia) August 21, 2022

What is UPI
Let us tell you that UPI is a real time payment system, which allows instant transfer of money from one bank account to another bank account. The special thing is that you can transfer money through UPI anytime, night or day.

How UPI System of Money Transfer Works Using the UPI facility is quite easy. For this, you have to download any UPI app like Paytm, PhonePe, Google Pay, BHIM etc. in your mobile. You can use this system by linking your bank account with the UPI app. Through UPI, you can link one bank account with multiple UPI apps. At the same time, multiple bank accounts can be operated through one UPI app.

The post UPI Payment New Charges: Big News! Government issued a new order regardingc, UPI service will be free, Check details Immediately first appeared on Rightsofemployees.com.

Let us tell you that UPI is a payment platform, on which many bank accounts can be aggregated on a mobile app. Will be able to order money with transfer, through this you can transfer money from your bank account to another bank account and order it from anywhere. RBI had already announced permission to foreign nationals and NRIs coming to India to use it.

It was said on behalf of RBI that this facility will start with passengers from G-20 countries arriving at select international airports. After this, this facility will be issued at all the entry points in the country. India took over the presidency of the G-20 on December 1, 2022. G-20 is a forum of developed and developing countries of the world.

Which countries are included in this include Argentina, Australia, Brazil, Canada, China, France, Germany, India, Indonesia, Italy, Japan, Korea, Mexico, Russia, Saudi Arabia, South Africa, Turkey, UK, USA and European Union Are. Payments through UPI have increased by 1.3 percent on a monthly basis in January to about Rs 13 lakh crore.

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Now the Ministry of Finance has given relief information. The ministry said that the government is not considering levying any charge on the UPI payment service.

The Finance Ministry tweeted, “UPI is one such digital platform which is highly convenient for the public and has a major contribution to the economy. No charges are being considered for the UPI payment service. Other options will be considered for cost recovery for service providers.”

UPI is a digital public good with immense convenience for the public & productivity gains for the economy. There is no consideration in Govt to levy any charges for UPI services. The concerns of the service providers for cost recovery have to be met through other means. (1/2)

— Ministry of Finance (@FinMinIndia) August 21, 2022

What is UPI
Let us tell you that UPI is a real time payment system, which allows instant transfer of money from one bank account to another bank account. The special thing is that you can transfer money through UPI anytime, night or day.

How UPI System of Money Transfer Works Using the UPI facility is quite easy. For this, you have to download any UPI app like Paytm, PhonePe, Google Pay, BHIM etc. in your mobile. You can use this system by linking your bank account with the UPI app. Through UPI, you can link one bank account with multiple UPI apps. At the same time, multiple bank accounts can be operated through one UPI app.

The post UPI Charges Update: Government issued a new order regarding UPI Charges, UPI service will be free, Check details Immediately first appeared on Rightsofemployees.com.

Actually, Reserve Bank of India will start a pilot project on QR code based coin vending machine. RBI Governor Shaktikanta Das made this announcement during the announcements of the RBI Monetary Policy meeting on Wednesday.

Access to coins

Governor Shaktikanta Das said that these machines will be launched with the aim of promoting the distribution of coins and increasing the reach of coins. Under this, after installation of vending machines, QR Code will have to be used in place of ATM card, from which coins can be withdrawn.

Coin Vending Machine

Governor Das said, “The Reserve Bank of India will start a pilot project on QR Code based Coin Vending Machine (QCVM) in 12 cities. These vending machines will dispense coins by debiting the customer’s account using UPI instead of physical tendering of bank notes. This will ease the availability of coins. Directions will be issued to banks to promote distribution of coins using these machines.

Popular retail digital payment system

He also said that UPI has become the most popular retail digital payment system in the country. RBI will now consider allowing all travelers coming to India to use UPI for merchant payments during their stay in the country. This facility will start with passengers from G-20 countries arriving at select international airports. The RBI governor also said that the Indian economy has successfully weathered several major shocks in the last three years and has emerged stronger than before.

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Now the Ministry of Finance has given relief information. The ministry said that the government is not considering levying any charge on the UPI payment service.

The Finance Ministry tweeted, “UPI is one such digital platform which is highly convenient for the public and has a major contribution to the economy. No charges are being considered for the UPI payment service. Other options will be considered for cost recovery for service providers.”

UPI is a digital public good with immense convenience for the public & productivity gains for the economy. There is no consideration in Govt to levy any charges for UPI services. The concerns of the service providers for cost recovery have to be met through other means. (1/2)

— Ministry of Finance (@FinMinIndia) August 21, 2022

What is UPI

Let us tell you that UPI is a real time payment system, which allows instant transfer of money from one bank account to another bank account. The special thing is that you can transfer money through UPI anytime, night or day.

How UPI System of Money Transfer Works Using the UPI facility is quite easy. For this, you have to download any UPI app like Paytm, PhonePe, Google Pay, BHIM etc. in your mobile. You can use this system by linking your bank account with the UPI app. Through UPI, you can link one bank account with multiple UPI apps. At the same time, multiple bank accounts can be operated through one UPI app.

The post UPI Payment Charges: Big News! Finance Ministry issued a new order regarding UPI Charges, UPI service will be free, Check details Immediately first appeared on Rightsofemployees.com.

Not only this, NRIs ie Overseas Indians from these ten countries can also use UPI service for transactions without depending on their phone number in India.

The countries where this initiative is being launched include Singapore, USA, Australia, Canada, Hong Kong, Oman, Qatar, Saudi Arabia, UAE and United Kingdom. According to National Payments Corporation of India, accounts like NRE/NRO having international mobile number can do transactions using UPI. Payments Corporation has issued instructions to partner banks and given them time till April 30 to comply.

NRI and NRO account holders will be able to do transactions

An NRI account helps NRIs to transfer foreign earnings to India. Whereas, an NRO account helps them manage the income earned in India. However, a condition has also been kept for this and that is that the banks have to ensure that such accounts have to be permitted as per the rules of Foreign Exchange Management Act.

Also, the guidelines issued by the Reserve Bank of India in this regard will have to be followed and security against money laundering or terrorist financing will have to be followed.

UPI transactions worth 12 lakh crores happened in December

Let us tell you that a cabinet committee headed by Prime Minister Narendra Modi on Wednesday approved a total scheme of Rs 2600 crores to promote RuPay debit cards and low-value BHIM-UPI transactions. . According to officials, the larger UPI will be of great help to international students, families living abroad and local businesses.

Financial incentives will also be provided to banks under this scheme to promote transactions using RuPay and UPI. In this regard, Prime Minister Modi said in a tweet, India’s progress in digital payments will be further strengthened by the Cabinet’s decision to promote RuPay Debit Card and BHIM-UPI transactions.

There has been a huge jump in UPI transactions in just six years. UPI transactions worth over Rs 12 lakh crore happened in December last year.

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Now the Ministry of Finance has given relief information. The ministry said that the government is not considering levying any charge on the UPI payment service.

The Finance Ministry tweeted, “UPI is one such digital platform which is highly convenient for the public and has a major contribution to the economy. No charges are being considered for the UPI payment service. Other options will be considered for cost recovery for service providers.”

UPI is a digital public good with immense convenience for the public & productivity gains for the economy. There is no consideration in Govt to levy any charges for UPI services. The concerns of the service providers for cost recovery have to be met through other means. (1/2)

— Ministry of Finance (@FinMinIndia) August 21, 2022

What is UPI
Let us tell you that UPI is a real time payment system, which allows instant transfer of money from one bank account to another bank account. The special thing is that you can transfer money through UPI anytime, night or day.

How UPI System of Money Transfer Works Using the UPI facility is quite easy. For this, you have to download any UPI app like Paytm, PhonePe, Google Pay, BHIM etc. in your mobile. You can use this system by linking your bank account with the UPI app. Through UPI, you can link one bank account with multiple UPI apps. At the same time, multiple bank accounts can be operated through one UPI app.

The post UPI Payment Charges: Big News! Finance Ministry issued a new order regarding UPI Charges, UPI service will be free, Check details Immediately first appeared on Rightsofemployees.com.

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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Now the Ministry of Finance has given relief information. The ministry said that the government is not considering levying any charge on the UPI payment service.

The Finance Ministry tweeted, “UPI is one such digital platform which is highly convenient for the public and has a major contribution to the economy. No charges are being considered for the UPI payment service. Other options will be considered for cost recovery for service providers.”

UPI is a digital public good with immense convenience for the public & productivity gains for the economy. There is no consideration in Govt to levy any charges for UPI services. The concerns of the service providers for cost recovery have to be met through other means. (1/2)

— Ministry of Finance (@FinMinIndia) August 21, 2022

What is UPI
Let us tell you that UPI is a real time payment system, which allows instant transfer of money from one bank account to another bank account. The special thing is that you can transfer money through UPI anytime, night or day.

How UPI System of Money Transfer Works Using the UPI facility is quite easy. For this, you have to download any UPI app like Paytm, PhonePe, Google Pay, BHIM etc. in your mobile. You can use this system by linking your bank account with the UPI app. Through UPI, you can link one bank account with multiple UPI apps. At the same time, multiple bank accounts can be operated through one UPI app.

The post UPI Payment Charges: Big News! Finance Ministry issued a new order regarding UPI Charges, UPI service will be free, Check details Immediately first appeared on Rightsofemployees.com.

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.

The post UPI Money Transfer : Money has been transferred from UPI to the wrong ID, then do this work immediately, the amount will be returned first appeared on Rightsofemployees.com.

Now the Ministry of Finance has given relief information. The ministry said that the government is not considering levying any charge on the UPI payment service.

The Finance Ministry tweeted, “UPI is one such digital platform which is highly convenient for the public and has a major contribution to the economy. No charges are being considered for the UPI payment service. Other options will be considered for cost recovery for service providers.”

UPI is a digital public good with immense convenience for the public & productivity gains for the economy. There is no consideration in Govt to levy any charges for UPI services. The concerns of the service providers for cost recovery have to be met through other means. (1/2)

— Ministry of Finance (@FinMinIndia) August 21, 2022

What is UPI
Let us tell you that UPI is a real time payment system, which allows instant transfer of money from one bank account to another bank account. The special thing is that you can transfer money through UPI anytime, night or day.

How UPI System of Money Transfer Works Using the UPI facility is quite easy. For this, you have to download any UPI app like Paytm, PhonePe, Google Pay, BHIM etc. in your mobile. You can use this system by linking your bank account with the UPI app. Through UPI, you can link one bank account with multiple UPI apps. At the same time, multiple bank accounts can be operated through one UPI app.

The post Finance Ministry issued a new order regarding UPI Charges, UPI service will be free, Check details Immediately first appeared on Rightsofemployees.com.

The total number of UPI transactions in October 2022 crossed the figure of 730 crore with an increase of 7.7 percent, which was valued at Rs 12.11 lakh crore. Let us tell that in September 2022, there were a total of 678 crore UPI transactions, whose value was Rs 11.16 crore. Where on one hand the use of UPI is increasing in the country, on the other hand there is an increase in the cases of frauds due to it.

UPI PIN is never required to receive money

In most of the cases of fraud through UPI, it is seen that people fall for the fraudsters without thinking and enter their 4 or 6 digit UPI PIN to receive the reward amount in their account. Let’s put After entering the UPI PIN, when the money goes away instead of coming into their account, then they come to know that they have become a victim of cyber fraud.

Users transacting through UPI should always keep in mind that we do not need to enter UPI PIN to receive money anytime. UPI PIN is always entered for payment.

Never enter a UPI pin to receive money.#UPI #becybersafe #cybersecurityawareness #cyberfraud #cybersecurity #cybercrime #cybersafe #JagoGrahakJago #AapkiApniJagriti@PiyushGoyal @AshwiniKChoubey @SadhviNiranjan @rohitksingh @IndianStandards @PIB_India @mygovindia @upichalega pic.twitter.com/vEI1MDLO1H

— Consumer Affairs (@jagograhakjago) November 17, 2022

Ministry of Consumer Affairs warned

The Ministry of Consumer Affairs has warned people to beware of fraudsters and cyber scams through UPI. The Department of Consumer Affairs has also told in a tweet on its official Twitter account that never enter UPI PIN to receive money through UPI. If you do this then all your hard earned money deposited in your bank account can be wiped out in a jiffy and you will be left with no other option but to repent.

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Apart from this, a new portal has been created by the Income Tax Department for form correction and income tax return filing. Apart from all these amendments, the Income Tax Department has also unveiled a new system for paying taxes (itr filing) . Taxpayers can now pay their taxes using credit card or UPI as well

Any taxpayer can pay his taxes on the NSDL website using the facility provided by the Income Tax Department with the help of a debit card issued by an authorized bank and net banking from 16 banks.

If you’re in this situation and don’t have an account with one of these banks, paying your taxes can be difficult, but you don’t need to worry.

Pay through these also As part of the new service provided by the Income Tax Department, apart from debit cards, tax payments can also be made through credit cards, online banking, pay-at-bank counters, UPI, RTGS and NEFT. Could

How to pay using UPI and Credit Card?

• First of all login to the e-filing portal using your username and password.
• Now from the menu of the e-file portal, select the new payment option under the e-pay tax option.
• Select the type of tax you want to pay and then proceed.
• Select the assessment year and the tax year for which you want to make the payment.
• After that, provide the details on the tax breakup which includes the details of tax, surcharge, cess etc.
• Now, you can pay using Credit Card, Net Banking Account, Bank Branch, UPI, RTGS or NEFT.
• Any of these payment methods can be used to pay taxes.
• Download e-invoice as soon as the payment is done. In addition, the Income Tax Department will send you postal and SMS notifications on tax payments.

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Now the Ministry of Finance has given relief information. The ministry said that the government is not considering levying any charge on the UPI payment service.

The Finance Ministry tweeted, “UPI is one such digital platform which is highly convenient for the public and has a major contribution to the economy. No charges are being considered for the UPI payment service. Other options will be considered for cost recovery for service providers.”

UPI is a digital public good with immense convenience for the public & productivity gains for the economy. There is no consideration in Govt to levy any charges for UPI services. The concerns of the service providers for cost recovery have to be met through other means. (1/2)

— Ministry of Finance (@FinMinIndia) August 21, 2022

What is UPI
Let us tell you that UPI is a real time payment system, which allows instant transfer of money from one bank account to another bank account. The special thing is that you can transfer money through UPI anytime, night or day.

How UPI System of Money Transfer Works Using the UPI facility is quite easy. For this, you have to download any UPI app like Paytm, PhonePe, Google Pay, BHIM etc. in your mobile. You can use this system by linking your bank account with the UPI app. Through UPI, you can link one bank account with multiple UPI apps. At the same time, multiple bank accounts can be operated through one UPI app.

The post UPI Payment Charges: Big News! Finance Ministry issued a new order regarding UPI Charges, UPI service will be free, Check details Immediately first appeared on Rightsofemployees.com.

Now the Ministry of Finance has given relief information. The ministry said that the government is not considering levying any charge on the UPI payment service.

The Finance Ministry tweeted, “UPI is one such digital platform which is highly convenient for the public and has a major contribution to the economy. No charges are being considered for the UPI payment service. Other options will be considered for cost recovery for service providers.”

UPI is a digital public good with immense convenience for the public & productivity gains for the economy. There is no consideration in Govt to levy any charges for UPI services. The concerns of the service providers for cost recovery have to be met through other means. (1/2)

— Ministry of Finance (@FinMinIndia) August 21, 2022

What is UPI
Let us tell you that UPI is a real time payment system, which allows instant transfer of money from one bank account to another bank account. The special thing is that you can transfer money through UPI anytime, night or day.

How UPI System of Money Transfer Works Using the UPI facility is quite easy. For this, you have to download any UPI app like Paytm, PhonePe, Google Pay, BHIM etc. in your mobile. You can use this system by linking your bank account with the UPI app. Through UPI, you can link one bank account with multiple UPI apps. At the same time, multiple bank accounts can be operated through one UPI app.

The post UPI Payment New Charges: Big News! Finance Ministry issued a new order regarding UPI Charges, UPI service will be free, Check details Immediately first appeared on Rightsofemployees.com.

Now the Ministry of Finance has given relief information. The ministry said that the government is not considering levying any charge on the UPI payment service.

The Finance Ministry tweeted, “UPI is one such digital platform which is highly convenient for the public and has a major contribution to the economy. No charges are being considered for the UPI payment service. Other options will be considered for cost recovery for service providers.”

UPI is a digital public good with immense convenience for the public & productivity gains for the economy. There is no consideration in Govt to levy any charges for UPI services. The concerns of the service providers for cost recovery have to be met through other means. (1/2)

— Ministry of Finance (@FinMinIndia) August 21, 2022

What is UPI
Let us tell you that UPI is a real time payment system, which allows instant transfer of money from one bank account to another bank account. The special thing is that you can transfer money through UPI anytime, night or day.

How UPI System of Money Transfer Works Using the UPI facility is quite easy. For this, you have to download any UPI app like Paytm, PhonePe, Google Pay, BHIM etc. in your mobile. You can use this system by linking your bank account with the UPI app. Through UPI, you can link one bank account with multiple UPI apps. At the same time, multiple bank accounts can be operated through one UPI app.

The post UPI Payment Charges: Big News! Finance Ministry issued a new order regarding UPI Charges, UPI service will be free, Check details Immediately first appeared on Rightsofemployees.com.

Digital payments or UPI payments in India are powered by apps like BHIM UPI, Google Pay, PhonePe, Paytm, Amazon Pay and individual apps launched by respective banks. Now, the Reserve Bank of India has come up with a new rule that will not only boost consumption but also help UPI users by providing them with payment options.

The National Payments Corporation of India (NPCI) launched the RuPay credit card on the UPI platform on September 20, following which it was authorized by the RBI. Experts say that soon the credit cards of other banks will also be linked to UPI.

How will users benefit from this?

You must be aware that credit cards offer an interest free repayment period of around 30-45 days. So, if users make UPI payments using their RuPay credit cards, they will get more time to pay back to the bank, whereas earlier, the money was deducted from their bank accounts immediately.

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According to data from the National Payments Corporation of India (NPCI), 6.78 billion (678 crore) transactions took place in September and were valued at Rs 11.16 lakh crore as against Rs 10.73 lakh crore in August.

With UPI, make assured secure payments that are instant, simple, and safe.#UPI #DigitalPayments @GoI_MeitY @_DigitalIndia @DFS_India pic.twitter.com/PnytLRXtXV

— NPCI (@NPCI_NPCI) October 1, 2022

In July, the value of UPI-based digital transactions stood at Rs 10.62 lakh crore. A perusal of other data from the NCPI framework shows that there were 46.27 crore transactions through IMPS, an instant transfer-based payment system, in September as against 46.69 crore transactions in August. A total of 46.08 crore transactions were done through IMPS in July.

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With the help of de-remit from this UPI handle, money can be deposited in NPS and Atal Pension Yojana (APY). Till now, money could be deposited in NPS and APY schemes only through net banking. In net banking, money was deposited with the help of IMPS, NEFT or RTGS. Now a new facility of UPI has been added to it. With the help of this, customers will be able to deposit money in the account in real time and they will also know the status immediately.

As per PFRDA, the UPI handle for de-remit has been introduced whose address is PFRDA.15digitVirtualAccount@axisbank. PFRDA has told that if money is deposited through UPI before 9.30 am, it will be counted in the payment of the same day. If money is deposited in NPS or APY after 9.30 am, then it will be considered as investment for the next day.

PFRDA runs two types of pension schemes. This includes the National Pension System i.e. NPS and Atal Pension Yojana. NPS is for those working in the organized sector while employees of the non-organized sector can also take advantage of APY. NPS was started in 2003. Central employees who have been joining since January 1, 2004, they are required to join NPS. Armed forces have been kept out of this. In May 2009, private sector employees and people working in the unorganized sector were included in the NPS.

To deposit money in NPS and APY, you have to create a virtual account first. Only after that money can be deposited through UPI.

How to deposit money with UPI

1. Visit the Central Recordkeeping Agency (CRA) system and log on to the ENPS website
2. Fill the details to verify the Permanent Retirement Account Number (PRAN)
3. Enter the OTP received on the mobile and select the account (Tier 1 or II) for which the virtual account is to be created
4. Further, select the option ‘Generate Virtual Account’. An acknowledgment number will appear
5. Enter the 15-digit VAN in the UPI handle. Then type ‘PFRDA.15digitVirtualAccount@axisbank’ to make payment
6. Now enter the amount you want to deposit, make the payment

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There is good news for the account holders of National Pension System (NPS). The Pension Fund Regulatory and Development Authority (PFRDA) has also started the facility of Unified Payment Interface (UPI) for contribution through de-remit. That is, now account holders can also put money in NPS through UPI. Till now this deposit was done only through IMPS / NEFT / RTGS.

Now with the facility of payment through UPI, it will be easier for the account holders to contribute. Let us tell you that UPI is a real time payment system, which allows instant transfer of money from one bank account to another bank account. The special thing is that through UPI you can transfer money at any time throughout the day. Let us tell you that this facility has also been started for the account holders of Atal Pension Yojana. However, the contribution made before 9.30 am will be counted as investment for that day but after that, it will be counted as investment for the next day.

How to make payment through UPI

• First of all login to the website of ENPS.
• Verify your Permanent Account Number.
• You will get OTP on registered mobile number or e-mail.
• Select Tier-1 or 2 account for which Virtual Account (VAN) is to be created.
• Give your consent and select Generate Virtual Account.
• An application will be sent to your trustee bank and you will get the acknowledgment number.
• Enter the 15 digit VAN in your UPI handle.
• After that enter PFRDA.15digitVirtualAccount@(bank’s name) and send Rs.

What is National Payment System

Let us tell you that the NPS scheme is for the employees of the organized sector. It was made mandatory for central government employees (except armed forces) in 2004. This is applicable to only those employees who have joined the service from 1st January 2004. In May 2009, it was extended to the private and unorganized sector on a voluntary basis.

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