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NPCI new guideline :your UPI IDs will be deactivated soon if you haven't done this

Published On : 2023-11-18T17:20:10+0530 [ IST ] | Author : Amit_Rahangdale
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National Payments Corporation of India has announced new guidelines that will deactivate your UPI IDs. All banks and third-party apps such as Google Pay, and PhonePe are going to block those UPT IDs in which no transaction has been done for over a year. After December 3Ist, NPCI will block those IDs from which no transaction was made in the last year. The UPI ID and the linked cellphone number of inactive clients will be verified by all third party apps and PSP banks in accordance with the new NPCI guideline. The IDs will be closed if no credit or debit has been made with your UPI ID. Customers won't be able to transact with these IDs starting in the new year.

NPCI has given banks and third-party apps until December 31 to identify these UPI IDs. Your respective banks will send you a notification through email or message before deactivating your UPT ID. The NPCI hopes that these new regulations will prevent money from being transferred to the wrong person's account. In recent years, numerous cases of this type have surfaced. People frequently switch mobile numbers without remembering to deactivate the UPI ID linked to the new phone. Someone else gains access to the number because it has been off for a few days.

However, only the previous UPI ID remains tied to this number.

The likelihood of an incorrect transaction increases significantly in such a scenario.

Key Highlights of NPCI's New Guideline: Security Compliance: The directive basically focuses on enhancing the safety measures related to UPI (Unified Payments Interface) transactions, emphasizing the importance of person compliance to preserve a stable digital payment atmosphere. Mandatory Requirements: Users are expected to satisfy particular mandatory requirements mentioned in the guideline, which may additionally include protection updates, identification verification, or other measures deemed vital to bolster the general protection of UPI transactions. Timely Compliance Urgency: NPCI stresses the urgency of timely compliance with the new suggestions, indicating that failure to stick to the mentioned requirements may want to bring about the deactivation of UPI IDs related to non-compliant bills. Communication Channels: NPCI is expected to talk these tips to customers through diverse channels, along with legit notifications within UPI apps, email communications, and public bulletins to ensure extensive consciousness. Enhanced Security Protocols: The advent of those recommendations aligns with NPCI's dedication to always enhance the security protocols governing UPI transactions, reflecting the agency's proactive technique to addressing rising cybersecurity challenges. User Education: Alongside the enforcement of compliance, NPCI is possibly to interact in an extensive person training campaign, supplying records about the unique steps customers want to take to make sure their UPI IDs continue to be lively and stable. Periodic Reviews: The guidelines may additionally imply that NPCI will conduct periodic opinions of user compliance, reinforcing the concept that preserving a secure virtual payment surroundings is a shared duty between customers and the regulatory body. Potential Impact: The capability deactivation of UPI IDs for non-compliance underscores the gravity of the security measures in region, encouraging customers to proactively interact with the tips to guard their digital transactions. As users wait for similarly details about the particular compliance requirements, NPCI's directive serves as a reminder of the evolving landscape of virtual payments, where security measures constantly adapt to make sure the protection and integrity of economic transactions.

Source : DNA

Tags : Mandatory Compliance , NPCI , Deactivation , Guidelines , UPI IDs ,

Summary : The National Payments Corporation of India (NPCI) issues a new guideline, warning that UPI IDs could be deactivated soon if users fail to adhere to the mandatory compliance outlined in the directive.

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