Digital payments are being promoted in the country. In such a situation, the National Payments Corporation of India (NPCI) has given a special instruction to banks for retail digital payments. Under this, now to activate UPI, you will need Aadhar card authentication and OTP on the registered mobile. Whereas earlier a debit card was required to activate UPI.
Now the need to provide debit card number has been done away with. It is believed that more number of people will join this and there will be increase in digital payment. NPCI had issued this circular in September last year and asked banks to comply with the directions of the circular till December 15, 2021, which was later extended to March 15, 2022. At the same time, it is being said that it may take 9 to 12 months to present it.
If UPI is active then this process will not have to be done
Under this arrangement, it is necessary to link the bank account with the aadhaar. If the bank is not linked with Aadhaar, then the process of UPI activation will not be completed. On the other hand, if your UPI is already active, then it will not have to go through the process of Aadhaar verification.
Registration will be done through OTP only
You will be able to register in UPI only with the help of Aadhaar number and registered mobile number. For this it is necessary to link Aadhaar with bank account. OTP will come on your registered mobile number only after linking. If the link is not there, then you should get it done before 31 March 2022.
Still so many people do not have debit card
There are over 940 million debit cards in the country as of January 2022. Also, as per the Pradhan Mantri Jan Yojana data, out of 448.2 million customers who opened a bank account under the scheme, only 314.6 million have been issued debit cards, indicating that there are many customers who have a bank account but They don’t have an account. Debit card, so they don’t have access to UPI.