UPI Rules: Major news for UPI users. NPCI (National Payments Corporation of India) has rolled out new guidelines aimed at enhancing the security and efficiency of UPI (Unified Payments Interface) transactions. These changes will take effect on April 1, 2025. Under the new regulations, if you don’t use your mobile number for 90 days, your telecom provider can reassign that number to someone else. This means that if your UPI is linked to an old mobile number that gets deactivated, your UPI ID will also become inactive. So, if the number associated with your bank account is closed or changed, you might face issues using UPI services. It’s crucial to take these steps to ensure smooth UPI usage.
1. Mobile Number Revocation List (MNRL)
This will be a list that tracks mobile numbers that have been removed from UPI transactions. Essentially, if a mobile number is no longer eligible for UPI use, it will be included in this list.
2. Digital Intelligence Platform (DIP)
This platform will be essential for banks and payment service providers to ensure their data stays secure and current.
3. Data Update
It’s crucial for banks and PSPs to refresh their data weekly to keep all information accurate and protected.
So, what should UPI users do?
UPI users need to make sure their mobile number is up to date with their bank. If you’ve changed your number, be sure to register the new one with the bank right away. Always use the number linked to your bank to avoid any disruptions in UPI services.
Recently, the NPCI (National Payments Corporation of India) introduced some updates to UPI (Unified Payments Interface) aimed at reducing fraud. Now, the “Collect Payment” feature will only be available to larger, certified merchants. Additionally, the limit for “Collect Request” in personal transactions has been raised to Rs 2,000.
These updates are designed to enhance UPI’s security. If you’re using UPI, ensure that your mobile number registered with the bank is current to prevent any issues.