Unified Payment Interface (UPI) has revolutionised how we handle money transfers and digital payments in India. Whether paying for groceries, splitting bills with friends, or shopping online, UPI offers a seamless experience, replacing the need to carry cash or wait for lengthy bank processes. As digital payments become an essential part of everyday life, staying updated with changes in regulations is crucial. Important new rules will soon come into effect from August 1. Here’s a simple guide on what’s changing and how it may affect your daily transactions.
Key Changes in UPI Rules from August 1
The National Payments Corporation of India (NPCI) is introducing new limits and time frames for UPI users. These changes aim to make transactions more secure and reduce pressure on UPI servers. Understanding the new restrictions can help you plan your payments better and avoid inconvenience.
1. Balance Check Limit
Before this change, users could check their bank account balance as many times as they wanted through UPI apps. This repeated querying put undue stress on banking servers, especially during peak hours.
New Rule:
- You can now check your account balance only up to 50 times per day via UPI.
- The cap is imposed to minimise unnecessary server load and improve the speed of essential transactions.
2. Limit on Bank Account Detail Checks
Usually, users review their bank account details—for instance, transaction history or linked account numbers—multiple times a day.
New Rule:
- Viewing your bank account details through a UPI app is now limited to 25 times a day.
- This restriction ensures fair usage and helps maintain system efficiency.
3. Fixed Timings for Autopay
Autopay features have made life easier for recurring payments like OTT subscriptions, SIP investments, and monthly bills. Previously, such payments could be debited at any time of day.
New Rule:
- Now, autopay transactions will be processed only during designated time slots:
- Before 10am
- Between 1pm and 5pm
- Before 10am
- This change helps regulate the flow of automated payments, reducing server load during peak periods.
4. Limit on Payment Status Checks
After making a payment, users often check the transaction status for confirmation or reassurance. This step, if repeated frequently, can degrade the performance of payment servers.
New Rule:
- Status checks are limited: you can now view a payment status only 3 times per day.
- There must be a minimum gap of 90 seconds between each check.
- This limit ensures smoother functioning for all users and prevents unnecessary queries.
5. Payment Reversal (Chargeback) Restrictions
Requesting a payment reversal or chargeback is a useful feature for resolving erroneous or failed transactions. However, unrestricted access could lead to misuse.
New Rule:
- You can now request a payment reversal only 10 times in 30 days.
- There is an additional cap: not more than 5 reversals can be requested from the same user or entity within this period.
These new UPI guidelines are designed to enhance the safety and reliability of digital payments as usage rises across India. Adopting these minor changes in your daily transaction habits can help ensure hassle-free digital banking and faster UPI service for everyone. Being mindful of these updated limits will allow you to continue making digital payments efficiently and securely.
