Rules of UPI: National Payments Corporation of India to make digital payment safe and effective in India (NPCI) Has issued new guidelines related to UPI transactions.
These rules will be effective from 1 April 2025 and are mainly designed to increase the security of UPI transactions and prevent fraud.
Mobile number can be closed if not used for 90 days
Under the new rules, if a mobile number is not used for 90 days, the Telecom Company concerned can allocate it to another customer.
In such a situation, if there was a UPI ID link from that number, then it will stop working. This may cause problems in banking and digital payment services to the user.
Mobile Number Revolution List (MNRL)
NPCI has announced a new system called Mobile Number Revocation List (MNRL). It will have information about all the mobile numbers which are not valid for UPI transactions.
This list will be shared with the bank and payment service providers (PSPS) to ensure that an old number is not connected to another person’s UPI ID even after getting an old number.
Data will be safe from digital intelligence platform (DIP)
To make UPI transactions more secure, a new system called Digital Intelligence Platform (DIP) is being implemented. Under this, banks and PSPs will need to protect their data and update every week, so that the possibility of fraud can be reduced.
What precautions should UPi users take?
NPCI has suggested to users to keep their bank-linked mobile number updates. If a user has changed its number, they should immediately register a new number in the bank. If a user does not use his old number for 90 days, it will be mandatory to update it to the bank again.
More changes in UPI transaction
NPCI has made some changes related to the “Collect Payment” feature in UPI:
Now it will be available only to certified traders.
-The limit of “Collect Request” for personal transactions has been fixed at Rs 2,000.
Initiative to make UPI safe
All these changes are being made to make UPI transactions more secure and effective. NPCI has advised users to be vigilant and update their banking details from time to time.
If users do not take caution, they may face the closure of UPI services or a potential fraud.