New Delhi: If you use UPI Payment Apps Like Google Pay, PhonePe, Or Paytm, this news is important for you. New UPI Payment Rules will take Effect from APRIL 1, 2025. Accounts. If your bank account is linked to an inactive number, it may be deleted, causing issues with upi payments.
Why did npci take this decision?
NPCI has implemented this step to prevent rising cyber fraud and technical issues. When a mobile number remuneration inactive for a long time, TELECCOM Companies Can Ressign it to another person. If this number was previously linked to a bank account and the new user Misuses it, The Risk of Fraud Increases.
Additionally, technical issues in banks and the UPI system could lead to incorrect transactions or payment failures. NPCI’s Goal is to make upi more secure and ensure users face no increase.
Why is a mobile number, Necessary for UPI Payments?
Your Registered Mobile Number Serves as an Identity for UPI Payments. When you send money to someone, the bank sends an otp to your registered mobile number to ensure that the transaction is authorized and the money goes to the right person.
If your number remain inactive for a long time and is reassigned to someone else, it can lead to incorrect transactions or Fund Misdirection. This could result in your money being transferred to someone else’s account.
What should you do now?
If the mobile number is linked to your bank account has been inactive for a long time or hasn’t been recharged, you should check it immediatily. Contact your Telecom Provider, Such as Jio, Airtel, VI, Or BSNL, to Confirm Whiter The Number is Styl registered in your name.
If your number has become inactive, you should either reactive it or update your bank account with a new mobile number. This will help you avoid any issues with upi transactions in the future.
NPCI’s New Guidelines
NPCI has Instructed Banks and UPI Apps to Update Records of Inactive Mobile Numbers Every Week. This means that from april 1, 2024, banks will remove all numbers that have not been in use for a long time.
If you want your UPI payments to continue without any interruptions, update your bank and mobile number details as soon as poses.