The National Payments Corporation of India (NPCI) is implementing new guidelines for Unified Payments Interface (UPI) rules starting April 1, 2025. These changes aim to enhance the security and efficiency of UPI transactions. Banks, Payment Service Providers (PSPs), and third-party UPI apps will need to adhere to these updated regulations.
One significant change involves the use of the Mobile Number Revocation List/Digital Intelligence Platform (MNRL/DIP). Banks and PSPs must utilize this platform. They need to update their databases at least once a week. This proactive measure will help reduce transaction errors. It will also address issues caused by inactive or reassigned mobile numbers.
- Inactive Numbers: A mobile number inactive for three months is typically deactivated. Telecom operators then reassign these numbers.
- UPI ID Deactivation: With the new April 1 rules, UPI IDs linked to inactive mobile numbers will be deactivated.
- User Action: Users must ensure their bank-registered mobile numbers are active and up-to-date.
Check Out: RBI Monetary Policy 2024
Failure to update your mobile number may lead to the suspension of your UPI services. Therefore, it is crucial to keep your bank records current.
Furthermore, NPCI is also taking steps to curb UPI-related frauds. NPCI is restricting the “Collect Payments” pull-payment system. It will be available only for large, verified merchants. Person-to-person collect payments will have a cap of ₹2,000.
Check Out: RBI Monetary Policy 2024
