NPCI UPI Update: The government has made two important changes to UPI. The request payment feature has been discontinued, and the transaction limit has been increased to ₹5 lakh. The AutoPay feature has also been introduced.
UPI Rule Changes: If you frequently use UPI, this news could be very useful for you. The government has made two major changes to UPI rules, effective today. These changes will impact you as well. Let’s see what changes the government has made to UPI.
You will no longer be able to request money from relatives
Until now, if you needed money, you could send a payment request to your relatives or friends. They would then respond to the request and send you the money. However, scammers started abusing this feature. To curb the rising number of scams in the country, the government has discontinued this UPI payment request service, effective today. NPCI (National Payments Corporation of India) has decided to shut down this feature, considering it a serious security risk.
UPI limit increased five-fold
The NPCI (National Payments Corporation of India) has discontinued the service for sending money request messages, but at the same time, it has increased the UPI transaction limit five-fold. Previously, the UPI transaction limit was restricted to ₹1 lakh, but now it has been raised to ₹5 lakh.
Meanwhile, the National Payments Corporation of India (NPCI) has activated the AutoPay feature on UPI. Now, you can set up pre-authorized automatic debits for subscription payments, EMIs, insurance premiums, or utility bills like electricity and water. This ensures timely payments without incurring any penalties.
UPI has changed our lives
Since the COVID-19 pandemic, the use of UPI has skyrocketed, and it has become an integral part of our lives. Whether it’s paying the vegetable vendor or settling an EMI, UPI has made everything so much easier. Since the introduction of UPI, the vision of a digital India has become a reality. Now, there’s no need to stand in long queues at banks to send money; just pick up your phone, and the transaction is completed in seconds.
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