NPCI introduced a new feature for crores of users.
Since the increase in the internet and smartphone access, the trend of digital payment in the country has also increased rapidly. Now most people pay in many work of daily routine through UPI. In UPI, users get such a facility that users transfer the biggest amount from one account to another within a few seconds. However, there is a big problem in UPI many times that money is transferred to another account in haste. If you have ever faced such a problem, now such problems are going to be completely over.
A major step has been taken by NPCI to eliminate the problem of transferring money to the wrong account. NPCI has implemented a new rule for this. The new feature of NPCI will help in keeping your hard earned money safe. Let us give you information about the new feature.
NPCI’s new rule
NPCI has ended the large tension of crores of UPI users. After the new feature of NPCI, now your money will not be able to go to another account by mistake. Actually, according to the new NPCI rule, whenever a person pays someone through UPI, the same name of the sender account will be seen which will have been written on his bank’s core banking system.
In simple words, now you will not be able to transfer money in your phone based on the name Save. Now you will see the real name written on that user’s bank record in the display. With this facility, you will know before transferring money that you are sending money to the person who wants to send.
New rule will be applicable from these days
According to NPCI, this new rule will be applicable to P2P (Peer to Peer) and P2PM (Peer to Peer Merchant) transactions. The correct objective of the new rule is to give information about the right account holder to crores of users of UPI so that his money remains safe and there is no scope for confusion. Now if you select the wrong name from the contact list at the time of online payment, then it will get information before the payment.
This new NPCI rule will be applicable across the country from 30 June 2025. Due to this, millions of Google Pay, PhonePe, Paytm and BHIM users across the country are going to get great comfort. All these platforms will have to update this change on their system as soon as possible.
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