UPI System Revamped: New Rules from August 1st to Enhance Efficiency and Security

New UPI Guidelines: From now on, whenever you transfer money via UPI, the remaining balance in your account will be visible immediately after the transaction. This new rule set by the National Payments Corporation of India (NPCI) aims toward making digital transactions more open and convenient. This will be implemented from August 1 throughout the nation. Until now, after making a UPI payment, users received confirmation of the transaction but did not have immediate access to check the balance in the account. Due to this, a lot of users have no knowledge of the account balance and faced problems with unnecessary transactions or failed transactions.Currently, the remaining amount in the account will be displayed after every transaction.Keeping in mind the usability of the feature, NPCI has rolled out another enhancement for UPI interfaces. Now, besides the standard message “Payment Successful,” users will also receive a notification of their remaining account balance post transaction. One important aspect to note is that a cap has also been introduced for the transactions checks. Users will be able to monitor their balance only 50 times in a day. This will help to maintain system stability and prevent congestion, ensuring the servers remain steady. Also, these would apply to users of high transaction volume services like Amazon Pay, PhonePe, Paytm, CRED, Google Pay, and BHIM. NPCI has implemented this framework on 10 UPI apps.NPCI has also made this change. The scope of this change goes beyond general payments. Automatically paid services such as those at pharmacies, transportation ticketing, and fast tags will also be able to take advantage of balance display. In some situations though, the balance data might be delayed. In the same way, during peak times like salary days or holidays the ability to display balance during transactions might be delayed or reduced. UPI transactions overall will be greatly improved in comfort, transparency, and ease of use.