UPI Circle Feature: NPCI has come up with a new feature UPI Circle, which was announced by RBI in recent times. This allows users to make UPI payments to 5 people without an account. In this, a maximum of Rs 5000 can be spent in a day.
UPI New Feature: If there are 5 people in the house, then everyone should have a banking account. Also, everyone’s personal mobile number should be linked to their bank account, only then UPI payment can be made. But now users can transfer money without an account. For example, if there are 5 people in your house, then the head of that house can add 5 people of the house from his UPI account. This feature has been named UPI Circle, which has been launched by the National Payment Corporation of India i.e. NPCI. This feature has been announced by the Reserve Bank of India (RBI) in recent times.
What is UPI Circle feature
UPI Circle is a delegate payment feature, which provides the facility of payment link along with the primary feature. With its help, partial or full payment can be made. Meaning parents can share their UPI account with children.
How will the UPI Circle feature work?
It has two types of users, primary and secondary. Primary users have their own accounts, in which they can add secondary users. They can also impose some limits. In this, secondary users can be given full payment access. Or some limited payment options can be made available to secondary users.
Full delegation
In this, the primary user can allow the secondary user to spend the pre-determined spending limit without any approval.
Partial delegation
In this, secondary users can make transactions, but primary users will have to enter the UPI PIN for authentication and payment.
What are the rules of UPI Circle?
- Secondary users will have to provide app passcode or biometric details for payment.
- The primary user can add a maximum of 5 people to his account for payment.
- The monthly spending limit in a UPI circle has been fixed at Rs 15,000.
- The maximum spending in a day is Rs 5000. This UPI limit will be applicable on partial delegation.
- The cooling period of UPI Circle is 24 hours.
- If the primary user wants, he can keep an eye on every transaction of the secondary users and can stop the payment.
