India: new UPI guidelines you should know about

[{"selector":"#anim-88843be7-4ac7-4460-8b84-a35073555304","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-66abe213-6f6f-4c00-97fb-03e528a34eaa","keyframes":{"transform":["translate3d(121.95123%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-4c57da76-6d9c-43e4-898f-51673c197583 [data-leaf-element=\"true\"]","keyframes":{"transform":["translate3d(-50.84375000815336%, 0, 0) translate(-25%, 0%) scale(1.5)","translate3d(0%, 0, 0) translate(0%, 0%) scale(1)"]},"delay":0,"duration":2000,"fill":"forwards"}] For the growth and expansion of UPI usage, India's central bank RBI has announced several changes and regulated new guidelines.

[{"selector":"#anim-72ce2bfa-2b57-411f-ba14-2afe55a64243","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-74716139-d4ee-451a-bdbf-99c235b8b8b8","keyframes":{"transform":["translate3d(0px, 307.49346%, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-c85a4a31-e55e-4b46-a21a-8af9dd9b3024 [data-leaf-element=\"true\"]","keyframes":{"transform":["translate3d(26.656249857941443%, 0, 0)","translate3d(0%, 0, 0)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"both"}] Here is everything you must know about

[{"selector":"#anim-45d1beb9-941f-456f-91c2-8d1e73bf2bb1","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-68c1c9e3-e367-456e-8a8a-a9dd12316536","keyframes":{"transform":["translate3d(-124.61539%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-e1631371-1eb9-464a-b780-4a2e50781862","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-f71d7761-37ef-4022-9f23-4df542c0006f","keyframes":{"transform":["translate3d(123.07691%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-56df3529-c317-456b-8192-01572bc67c56 [data-leaf-element=\"true\"]","keyframes":{"transform":["translate3d(-48.734374994969755%, 0, 0) translate(-25%, 0%) scale(1.5)","translate3d(0%, 0, 0) translate(0%, 0%) scale(1)"]},"delay":0,"duration":2000,"fill":"forwards"}] Before 1 january the transaction limit was restricted to 1 Lakh rupees only, but now the limit has been increased to rupees 5 lakhs UPI transaction limit increased

[{"selector":"#anim-15469dad-dd82-4465-840f-32d356215289","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-74d87463-02f2-4215-a5cb-f6e195f604db","keyframes":{"transform":["translate3d(131.76472%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-fa559149-a327-40ef-9bd9-cb1c5a7cb74d","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-4ca3ec21-fa3d-4321-80c8-19997c3c2689","keyframes":{"transform":["translate3d(-118.97234%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-44a72b40-0a81-4a58-bcae-813b668b767b [data-leaf-element=\"true\"]","keyframes":{"transform":["translate3d(-34.60156240663967%, 0, 0) translate(-25%, 0%) scale(1.5)","translate3d(0%, 0, 0) translate(0%, 0%) scale(1)"]},"delay":0,"duration":2000,"fill":"forwards"}] UPI Id's that have been inactive for one year or more will be deactivated. Inactive UPI Id's would be deactivated

[{"selector":"#anim-3a5f030d-7433-43f8-af5b-7425971dd45c","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-4832affa-0de4-4380-aebb-98c88b8af095","keyframes":{"transform":["translate3d(120.67797%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-619d4f91-1ec9-42ef-ae8a-4ea01b3d553e [data-leaf-element=\"true\"]","keyframes":{"transform":["translate3d(-44.72656246992093%, 0, 0) translate(-25%, 0%) scale(1.5)","translate3d(0%, 0, 0) translate(0%, 0%) scale(1)"]},"delay":0,"duration":2000,"fill":"forwards"}] This aims to prevent the inadvertent transfer of money to unintendent reciepents in case the customer changes their number without delinking their old number from the banking system

[{"selector":"#anim-3621c7ea-3090-4cc9-ad3b-fecc352c3733","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-b5a6f295-7f34-4659-8446-e3e772246d74","keyframes":{"transform":["translate3d(115.73770%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-e2f10ec7-af16-4d61-98aa-ec1ffe89daf6","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-133a7d7c-ceec-41c3-8e8d-809be50d6c7d","keyframes":{"transform":["translate3d(-118.46154%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-07cdc1aa-14db-48a6-b0bc-75f6a6cf179e [data-leaf-element=\"true\"]","keyframes":{"transform":["translate3d(-42.195312454100616%, 0, 0) translate(-25%, 0%) scale(1.5)","translate3d(0%, 0, 0) translate(0%, 0%) scale(1)"]},"delay":0,"duration":2000,"fill":"forwards"}] The lite wallets that allow users to make payment without any internet connection has been hiked up from 200 to 500 Transaction limit hiked up for UPI Lite wallets

[{"selector":"#anim-6273791b-9b63-45f6-a88b-2ce300728ed0","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-09af6617-05cc-411f-b202-9d4664558c4d","keyframes":{"transform":["translate3d(138.42976%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-d8407b25-d494-4f92-a736-a8712fd37faf [data-leaf-element=\"true\"]","keyframes":{"transform":["translate3d(-48.83984374562893%, 0, 0) translate(-25%, 0%) scale(1.5)","translate3d(0%, 0, 0) translate(0%, 0%) scale(1)"]},"delay":0,"duration":2000,"fill":"forwards"}] The maximum limit for lite transactions that can be transferred online is 2000 rupees

[{"selector":"#anim-dca90e0f-44f4-4178-b4e6-898c4e32de2c","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-6e6e0a86-1789-4365-aa04-6ae53425196b","keyframes":{"transform":["translate3d(-116.78322%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-10f135c7-64ff-42dc-86c6-1adf44fec6a1 [data-leaf-element=\"true\"]","keyframes":{"transform":["translate3d(-44.07980508484174%, 0, 0) translate(6.140350877192985%, -6.140349742324507%) scale(0.8771929824561403)","translate3d(0%, 0, 0) translate(0%, 0%) scale(1)"]},"delay":0,"duration":2000,"fill":"forwards"}] No Authentication needed for UPI Auto payments

[{"selector":"#anim-6e853dab-5f88-4c9b-9f91-546a09718cb1","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-95df10b2-6d59-4205-9441-9166cd64f884","keyframes":{"transform":["translate3d(127.92452%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-a76d55b1-52ea-4fa4-886d-6acd20c94427 [data-leaf-element=\"true\"]","keyframes":{"transform":["translate3d(20.812499188718558%, 0, 0) translate(25%, 0%) scale(1.5)","translate3d(0%, 0, 0) translate(0%, 0%) scale(1)"]},"delay":0,"duration":2000,"fill":"forwards"}] UPI auto payments of upto 1 Lakh for repayment of credit cards, mutual funds subscriptions and insurance premiums will no longer require additional factor authentication (AFA)

[{"selector":"#anim-d0dbabb5-e9e2-4110-a2f4-f27e19d9414a","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-e78c0dbe-a4e6-43a4-8c36-828dffcb7f85","keyframes":{"transform":["translate3d(151.72415%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-42a05d40-a36c-40d6-848a-cd784dd47642 [data-leaf-element=\"true\"]","keyframes":{"transform":["translate3d(11.914062265162793%, 0, 0)","translate3d(0%, 0, 0)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"both"}] Before this payments of more than rupees 15000 required AFA authentication

[{"selector":"#anim-8668a0d0-6453-43e9-a464-40737c70bd78","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-d3ac8fad-444f-4785-8755-d26f3c218d8b","keyframes":{"transform":["translate3d(122.96820%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-10409eb1-2577-467d-b68a-b9b31253d80e","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-48b6f9cd-81a8-4c7a-8759-1aeb30c82b5d","keyframes":{"transform":["translate3d(-112.07547%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-3463f6dc-57b6-4e90-9802-1e0dabfd7aa6 [data-leaf-element=\"true\"]","keyframes":{"transform":["translate3d(-28.551874868329936%, 0, 0) translate(-25%, 0%) scale(1.5)","translate3d(0%, 0, 0) translate(0%, 0%) scale(1)"]},"delay":0,"duration":2000,"fill":"forwards"}] the fee paid by a merchant when a customer processes a transaction has been set up to 1.1 percent when the transaction value is less tahn rupees 2000 Interchange fee on UPI merchant payments

[{"selector":"#anim-509b28cf-be65-43ec-94c0-7f1511d72988","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-a38596d8-b037-4dbe-b61d-9bb2773780f1","keyframes":{"transform":["translate3d(119.52862%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-bf50dfc5-a0b1-414d-9794-ea6de2283bf5 [data-leaf-element=\"true\"]","keyframes":{"transform":["translate3d(-50.49481103348196%, 0, 0) translate(-25%, 0%) scale(1.5)","translate3d(0%, 0, 0) translate(0%, 0%) scale(1)"]},"delay":0,"duration":2000,"fill":"forwards"}] Also, very soon UPI users will be able to activate the ‘Tap and Pay’ feature but there is still no official announcement yet.

[{"selector":"#anim-b7c31573-7f91-4f0f-b7a7-0c0894be0b00","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-ff449c1a-aec2-4875-b716-057c13b126eb","keyframes":{"transform":["translate3d(129.11879%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-a3f18473-36ff-48bb-b6fe-5cf7401b10df [data-leaf-element=\"true\"]","keyframes":{"transform":["translate3d(51.21875001017712%, 0, 0)","translate3d(0%, 0, 0)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"both"}] UPI Atm- RBI is all set to introduce UPI ATMs nationwide. With these ATMs, users can scan a QR code to withdraw cash directly from their bank accounts.