Important Updates for UPI Users
From August 1, the National Payments Corporation of India (NPCI) is rolling out new guidelines to enhance the efficiency of UPI. These changes will curtail network load and provide seamless digital payment services.
Limit on Balance Check Introduced
- Previously, consumers were able to check their bank account balance on applications like PhonePe, Paytm, and Google Pay without a limit.
- From August 1, customers can check their balance a maximum of 50 times in a single day.
- Also, users can verify interlinked bank accounts (to a single mobile number) only 25 times in a day.
- NPCI has asked banks and UPI service providers to adhere to this regulation to reduce unwanted traffic on UPI systems.
Auto Payments Limited to Off-Peak Hours
- Auto payment processing has also been altered.
- Subscription fee, utility bills, and EMI auto-debits now have to be processed during off-peak hours.
- This change affects only merchant-side requests, not regular user-initiated payments.
Impact on Regular Users
- Monthly UPI transaction volume crosses ₹1800 crore.
- In recent months, service disruptions were reported due to excessive API calls, mainly from frequent balance checks and status queries.
- According to NPCI, the new rules will not significantly affect most users.
- Since most people do not check balances more than 50 times, usage will likely remain unaffected.
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