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UPI New Rules: If you use PhonePe, Paytm and Google Pay everywhere, then you must read this news. Because, from August 1, i.e. today, new rules of UPI have been implemented.
NPCI has imposed a limit on many facilities. Due to which now you will not be able to check your account balance again and again. Apart from this, limits are going to be imposed on many other features. Know in details.
The month of August has started today and from today your way of using UPI is also going to change. Yes, from August 1, NPCI has made some changes to reduce the extra load on the UPI system and to speed up UPI transactions. In such a situation, if you also depend on Google Pay, PhonePe and PayTm for every small payment, then it is important that you know the new rules.
These changes are going to happen
Balance Check Limit
Till now UPI users could check their bank balance as many times as they wanted in a day. But now this will not happen from August 1. NPCI (National Payments Corporation of India) has now set a limit for this as well. Now users will be able to check their bank balance only 50 times in a day. This rule is being implemented so that there is no excessive load on the UPI system at the time of need.
Linked account listing also restricted
Under the new UPI rule, now you will be able to see the information of your UPI linked bank accounts only 25 times a day in each app (Google Pay, PhonePe or PayTm).
Autopay will now be processed on time
Nowadays, for everything from recharge to electricity bill or any kind of payment (Netflix, Amazon Prime or SIP installments), users keep Auto Pay mode set in UPI. So that they do not have to open the app again and again to make payment and the payment gets done automatically. But now a limit has been fixed on this as well. From today, Auto Pay transactions through UPI will also happen at a fixed time only. As such, from today, Auto Pay transactions will happen only before 10 am and from 1 pm to 5 pm. Because, the time from 10 am to 1 pm and then from 5 pm to 9:30 pm has been included in the peak hours.
Limit also applies to payment status checks
Often, after making a payment, users check the status again and again to see if the money has been transferred or not. But now NPCI has put a limit on this as well. Now users will be able to check the payment status only 3 times in a day, and that too with a gap of 90 seconds.
Limit on payment reversal
NPCI has now set a limit for payment reversal i.e. getting the payment back. Under the new rule, now users can request for payment refund only 10 times in a month. Apart from this, a user can ask for payment reversal only 5 times from a single person or company.
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