UPI UPDATE: In today’s modern times, through online medium, we can do almost everything sitting at home like ordering food at home or doing online shopping etc. UPI system has played a big role in making all these things easy online because with the help of UPI we can make online payment to anyone in a few seconds.
In our country India, almost everyone uses the UPI payment system because it is very easy to use and with its help we can send even ₹ 1 online or even ₹ 1 lakh online. This is the most special thing about this UPI system, let us also tell you that today many other countries are also planning to adopt the UPI created by our country.
UPI payment system was started in the year 2016 by NPCI under the guidance of RBI to make it easier for people to make online payments and similarly, today online payment can be done easily through UPI. But currently a UPI update has come according to which now you can not make online payment through UPI. Let us know what is the complete UPI update.
Your UPI ID is about to be closed: UPI UPDATE
Recently, on November 7, a new guideline regarding UPI has been issued by NPCI (National Payments Corporation of India), which is very important for all of you to know if you use UPI to make online payments.
This new guideline of NPCI is such that if any customer has not done any financial or non-financial transaction through his third party UPI application like – Google Pay, Paytm, BHIM, Phone Pay etc. in the last 1 year, then his UPI ID will be closed. After which he will not be able to make any online payment through UPI.
New guidelines will be implemented from this day
This new guideline of NPCI will be applicable from January 1, 2024 for all companies like Google Pay, Phone Pay, Paytm etc. NPCI has given everyone time till December 31, 2023, that if by this date no transaction has taken place in the UPI ID in the last one year, then that ID will be closed.
So if you have not done any transaction with your UPI ID in the last 1 year, then do any non-financial or financial transaction on it so that your UPI ID does not get closed and you remain eligible to make online UPI payments.
Wrong transactions will be banned
With the help of this new guideline of NPCI, it will help in reducing fraudulent transactions and will also help in identifying unused UPI accounts. Also, if people change their number and forget to deactivate UPI, their UPI ID will also be automatically closed with time so that no one will be able to misuse their ID.
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