Invalid UPI IDs will get deactivated by December 31: The National Payments Corporation of India (NPCI) has set a December deadline for deactivating UPI IDs and numbers that have been inactive for over a year. This move aims to prevent unintended money transfers when customers change their mobile numbers without disassociating them from the banking system. The biggest UPI payment apps in India, including Google Pay, Paytm, and PhonePe, are affected by this directive. Additionally, telecom companies can issue deactivated mobile numbers to new users after 90 days, which may lead to inadvertent transfers. The guidelines stress the importance of regularly reviewing and verifying information within the banking system.
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Banking frauds: NPCI asks banks to deactivate these UPI IDs by December 31
Invalid UPI IDs will get deactivated by December 31: The National Payments Corporation of India (NPCI) has set a December deadline for deactivating UPI IDs and numbers that have been inactive for over a year. This move aims to prevent unintended money transfers when customers change their mobile numbers without disassociating them from the banking system. The biggest UPI payment apps in India, including Google Pay, Paytm, and PhonePe, are affected by this directive. Additionally, telecom companies can issue deactivated mobile numbers to new users after 90 days, which may lead to inadvertent transfers. The guidelines stress the importance of regularly reviewing and verifying information within the banking system.
Disclaimer
We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.
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