Mumbai, November 16: The National Payments Corporation of India (NCPI) has announced a new guideline for UPI payments that, if not followed, may deactivate your UPI IDs. All the banks and third-party applications must follow these new NCPI guidelines till December 31, 2023. Third-party apps like Google Pay, PhonePe, and others will block the UPI IDs that have done “no transactions” over a year.
NPCI has given a deadline of December 31 to activate the UPI IDs which have not been used for any transactions in one year. After the deadline is over, the organization will block these IDs without a single transaction. The organization will close the IDs that have no credit or debit card. Once blocked, the customers will not be able to use these IDs for transactions from next year. Most Common Password: ‘123456’, ‘admin’, Variations of Word ‘password’ Among Most Common Passwords Used by Indians in 2023, Finds Report.
NPCI New Guideline Regarding UPI Transactions:
The new guideline from the National Payment Corporation of India says that all the banks and third-party apps will verify inactive users’ UPI IDs and check their mobile numbers. They will be blocked if they find that the IDs have yet to make transactions for one year. The customers would not be able to transact with these blocked IDs anymore. Cybercriminals Wipe Out Logs in 82% of Attacks With Missing Telemetry Between January 1 2022 to June 30 2023: Report.
Purpose of New NPCI Guideline for UPI Transactions:
According to the reports, NPCI wants to eliminate any scope for wrong transactions by introducing the new guideline. The new NPCI guideline ensures that the IDs are not misused and not used for transferring money to the wrong person. When customers change their mobile number, they often forget to deactivate their previous ID associated with it. With the help of new guidelines introduced by NPCI, there would only remain one UPI ID linked to a specific mobile number.
(The above story first appeared on Today News 24 on Nov 16, 2023 05:24 PM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website todaynews24.top).
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