UPI New Rules: If you use PhonePe, Paytm and Google Pay everywhere, then you must read this news. Because, from August 1, there is going to be a new change in UPI. NPCI has imposed a limit on many facilities. Due to which now you will not be able to check your account balance again and again. Apart from this, limits are going to be imposed on many other features. Know in details.
UPI New Rules: If you depend on UPI for small payments, then this news is important for you. Because, now a limit has been imposed on UPI as well. Which will be implemented from tomorrow i.e. August 1. Which will directly affect your pocket. Actually, since the arrival of UPI, most people are transacting money online. Because, UPI has made digital transactions simple and convenient for people.
With which anyone can send money instantly to anyone anywhere. In such a situation, now to make UPI even better, the National Payments Corporation of India (NPCI) is going to implement new rules from August 1. In such a situation, if you also depend on UPI (PhonePe, Google Pay or Paytm) for every transaction, then it is important for you to know these changes.
This is going to change
Balance check limit: Till now UPI users could check their bank balance as many times as they wanted in a day. But now this will not happen from August 1. NPCI (National Payments Corporation of India) has now set a limit for this as well. Now users will be able to check their bank balance only 50 times in a day. This rule is being implemented so that there is no excessive load on the UPI system at the time of need.
Limit on viewing transaction history: NPCI has also imposed a limit on viewing transaction history. Now users will be able to view their bank account details linked to the phone number only 25 times a day from a single app. Due to which users will no longer be able to check balance again and again or view transaction history more.
Auto Pay will now be processed at a fixed time: Nowadays, users set Auto Pay mode in UPI for recharge to electricity bill or any kind of payment (Netflix, Amazon Prime or SIP installment). So that they do not have to open the app again and again to make payment and the payment is done automatically. But now a limit has been set on this as well. Auto Pay transactions from UPI will also happen at a fixed time. Now Auto Pay transactions will happen only before 10 am and from 1 pm to 5 pm. Because, the time from 10 am to 1 pm and then from 5 pm to 9:30 pm has been included in the peak hours.
Limit also applies to payment status check: Often users check the status repeatedly after making payment. But now NPCI has imposed a limit on this as well. Now users will be able to check payment status only 3 times in a day, that too there should be a gap of 90 seconds between them.
Limit in payment reversal: NPCI has now also set a limit for payment reversal i.e. getting the payment back. Under the new rule, now users can request to get the payment back only 10 times in a month. Apart from this, a user can demand payment reversal only 5 times from the same person or company.
