New UPI Rules: Significant Changes Ahead

Significant changes are coming to the rules for using the Unified Payments Interface (UPI) starting August 1st. The National Payments Corporation of India (NPCI) has issued new guidelines that will apply to all UPI apps like Google Pay, PhonePe, and Paytm. The primary goal of these changes is to reduce the load on the UPI system while enhancing the transaction process to make it faster and more secure. Let’s dive into the details of these new rules.

What Are the New Rules?

1. Limit on Balance Checks:
   
   From now on, a user can check their account balance a maximum of 50 times a day from a single UPI app. Any attempt to check the balance beyond this limit will be unsuccessful. This step has been taken to alleviate the excessive load on the servers.
2. Limit on Viewing Linked Bank Accounts:
   
   The list of bank accounts linked to your mobile number can now be viewed only 25 times a day. This new rule is designed to decrease the unnecessary API calls
   generated by repeatedly viewing this list.
3. New Timings for Auto-Pay Transactions:
   
   AutoPay transactions for bills, subscriptions, or investments will now be processed only during specific off-peak hours. These time slots are:
   • Before 10:00 AM
   • Between 1:00 PM and 5:00 PM
   • After 9:30 PM
     
     This will help in reducing the pressure on servers during peak hours and allow other transactions to be completed smoothly.
4. Limit on Checking Failed Transaction Status:
   
   If a transaction fails, its status can only be checked 3 times a day, with a 90-second interval maintained between each check. This rule is intended to reduce server load and speed up the process of refunding money from failed transactions.
5. Account Holder Name Verification:
   
   This rule has been in effect since June 30th. The registered name of the recipient is now displayed on the screen before any
   UPI transaction. This measure enhances transaction security and reduces the likelihood of sending money to the wrong account.

Advice for General Users

• Stay Informed: Being aware of these new rules will make your UPI usage smoother.
• Avoid Unnecessary Checks: Refrain from repeatedly checking your balance or the list of linked accounts.
• Remember Auto-Pay Timings: Your Auto-Pay transactions will be processed according to the new schedule, so be prepared accordingly.

It is expected that these new rules will contribute to making the UPI system more stable and reliable. The NPCI has directed all banks and payment system operators to strictly enforce these regulations.