You might want to take note, users of the popular Unified Payments Interface (UPI) in India! Starting August 1st, new changes are going to come into force which restrict how many times you can check your balance or the status of your payments.
These changes are being made by the National Payments Corporation of India (NPCI) which governs the UPI system, so as to strengthen their anti-money laundering (AML) policies. The intention is to prevent platform abuse, especially circumventing laws pertaining to financial crimes like money laundering.
As is the case with most users, you will continue to make your payments without any restrictions, but checking your balance through UPI or checking a pending transaction status will be limited to some preset cap within a specific timeframe (like daily). These measures aim to counter automated or excessive queries that pose a risk of exploitation.
UPI Lite and similar services that enable microtransactions and quick payments will also likely have those limits applied to them.
For the average person conducting daily transactions, these updates may go unnoticed. It is worth noting, however, that under new policies, overly checking your status or balance in a short period of time could trigger some temporary limitations. The NPCI seeks to strengthen the security and overall integrity of the UPI system with these updated provisions.
Read More: Like this, apply online as mcc.nic.in will be beginning NEET UG 2025 counselling
-
Maharashtra CM Devendra Fadnavis Launches 'Drug-Free Mumbai' Drive, Targets Drug Networks Near Schools
-
'The team comes first' - Ruben Amorim speaks on Rafael Leao's future as AC Milan winger is linked with Fenerbahce move
-
‘It is not FIFA’s to sell’ - Gianni Infantino’s $20 billion World Cup power move puts football’s soul on the market - and makes resistance too costly
-
Lovepreet''s record silver headlines day; Neeraj, two others reach javelin final
-
Son of a tailor, Punjab''s Lovepreet wins silver with CWG ''snatch'' record
