UPI Rule Change: There is going to be a big change in the rules of UPI transactions from April 1, 2025. Know what effect these new guidelines will have on your wallet, digital payments and transactions
UPI Rule Change: If you use UPI regularly, then this information is very important for you. The National Payments Corporation of India (NPCI) has issued new rules to make UPI transactions more secure, which will be effective from April 1, 2025. The aim of these changes is to make the digital payment system secure and transparent.
What is the new rule?
As per the new instructions of NPCI, banks will have to remove those mobile numbers from their system which have been closed or reassigned to new customers. This step has been taken to prevent mistakes in UPI transactions.
Data will be updated every week
NPCI decided in a meeting held on 16 July 2024 that:
- Banks and Payment Service Providers (PSPs) will have to update their data weekly.
- In this process, the list of mobile numbers which are now closed or have been given to another customer will be removed.
- This will reduce the chances of transactions on the wrong number and increase security.
What should UPI users do?
Due to the new guidelines of NPCI, UPI users should take special care of the following things:
- Update registered mobile number: If you have recently changed your mobile number, update it immediately in your bank and UPI app.
- Keep an eye on the notifications of UPI apps: UPI apps will now take explicit consent for number updates. For this, an ‘opt-in’ option will be given, so that no change will be made without the approval of the user.
- Contact the bank: If your old mobile number is closed, inform the bank immediately so that the security of your account is maintained.
- Interruption in receiving money: If a customer’s number is not updated, they may have trouble receiving money through UPI.
New instructions for banks and payment service providers
NPCI has given banks and UPI service providers time till March 31, 2025 to implement these rules.
From April 1, 2025:
- All banks will have to submit monthly reports to NPCI.
- This report will include details of total UPI IDs, number of active users, transactions through updated mobile numbers and number-based transactions resolved locally.
Effect of new rules
The positive impact of these new guidelines implemented by NPCI can be seen as follows:
- Security in UPI transactions will increase: Incidents of sending money to the wrong number will decrease.
- Fraud incidents will reduce: Due to the number update process, the possibility of scam and fraud will be reduced.
- UPI experience will improve: Users will feel more comfortable and secure in transactions.
Objective of NPCI
The main objective of NPCI is to make UPI transactions secure and more convenient in consumer interest. After the implementation of the new rules, the digital payment system will become more robust and secure.
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