The year 2023 is coming to an end, with just 15 days remaining, and several essential tasks need to be addressed during this time. For those who make UPI payments through PhonePe, Google Pay, Paytm, there is an alert. The central government is implementing new rules to prevent fraud in Unified Payments Interface (UPI).

Under these rules, UPI IDs that have been inactive for an extended period can be canceled. The National Payments Corporation of India (NPCI) has issued guidelines to service provider firms and banks in this regard. According to NPCI, customers whose UPI accounts have not been used for online transactions for a year or more may face cancellation. Verification of such accounts needs to be done again. NPCI emphasizes the need for timely verification, as inactive UPI IDs may be canceled.

The move is aimed at enhancing security and preventing fraudulent activities in UPI transactions. The guidelines also apply to online payment service providers such as banks, Google Pay, and Paytm. NPCI has instructed banks and service providers to facilitate the re-verification of such inactive accounts.

If the UPI ID verification is not completed by the end of the year, i.e., December 31, then these inactive accounts will be closed starting the new year. This means that customers with closed UPI accounts will not be able to engage in digital transactions using that UPI ID. Therefore, individuals who have not conducted transactions with their UPI accounts for an extended period are advised to activate them by conducting transactions promptly.

Muslim Community Presents Demand Ahead of Ram Temple Inauguration

India-Korea Launches EODES for Swift Clearance of Imported Goods

Chennai Celebrates Vijay Diwas: Sacrifice and Valor of 1971 War Heroes