Many people will not be able to use their UPI from December 31. National Payments Corporation of India (NPCI) has directed banks and third-party apps like PhonePe and Google Pay to stop UPI. However, there is no need for everyone to panic about this. Instructions have been given to close such UPI from which no transaction has been done in the last year. NPCI has also asked users to send notifications through email or message before closing UPI.
NPCI has expressed hope that with this step UPI transactions will become more secure. Besides, many wrong transactions will also be stopped. After the instructions of NPCI, all the apps and banks will verify the UPI ID of inactive customers and the mobile number associated with it. If there is no credit or debit within 1 year, the UPI ID will be closed.
Transactions will not be possible from the new year
If there is no use of this ID for a year then it will be closed. From the new year, customers will not be able to transact with these IDs. There are reports that NPCI has received many complaints of wrong transactions, in view of which this step is being taken. A big reason for this is that many times people change their mobile number and do not switch the UPID associated with it. Someone else gets this number and the UPID remains activated there. In such a situation, if someone sends money to that number, it will be received by the person who now has that number. If you too have not done any UPI transaction for a year, then do it immediately so that your UPI ID remains safe.
What is UPI?
The full form of UPI is the Unified Payment Interface (UPI). This is a unique method of instant online payment. NPCI is the creator and operator of UPI. You can use it by generating a UPI ID on Bhim, Google Pay, Phone Pay, or any bank's app. There is no additional charge to use UPI.
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