Today, almost everyone is using UPI. Banking is now possible at home only if you have a smartphone at hand. By scanning the QR code (QR Code) payment, balance check, checking the transaction status, everything has become so easy that the use of cash has reduced a lot. The speed of this digital transformation has increased by the initiative of the Modi government’s ‘Digital India’. But this blessing of technology is giving rise to new problems without the knowledge of common people.
Cyber crimes are increasing, administration
As the days go by, as digital transactions are becoming easier, so does the amount of online fraud. Common people are checking their account balance many times every day or checking the transaction status of the transaction status. And this habit has become an opportunity for cyber criminals. The amount of such fraud in April and May has increased at a serious rate. So this time for the sake of security, big changes are going to come in the rules of UPI transactions.
New rules start in August
If you want to use UPI from August 1, some new rules must be followed. But if you know them now, you can be prepared in advance. For example, a balance check limit more than 50 times a day will be stopped. Again, the number that is associated with your bank account, the balance can be checked a maximum of 25 times a day. But this is not the end.
There will be a time gap in the transaction
According to the new rules, the use of the Auto Pay Upi feature of UPI should adhere to a specific time slot. In addition to this, if you want to know the status of any transaction (Transaction Status), the user has to wait for at least 90 seconds or one and a half minutes. The banking app can block it by checking the status by clicking one after the other. That is, there is a danger of great danger among users who try to verify the transaction in excess.
NPCI is bringing change, what is the reason?
According to the National Payments Corporation of India (NPCI), there are currently more than 6 billion UPI volumes per month in the country. There are some inconsistencies in the administration in this huge amount of transactions. In particular, the server is under pressure due to multiple checks or checking statuses and from there cyber criminals are taking advantage. For that reason, NPCI is going to introduce these new rules. So it is important for UPI users to be careful now. Otherwise, you may also face multiple problems from August.