Many accounts of GPAY, Phonepe, Paytm are going to be closed in two days, know the guidelines
If you also use UPI then you are going to get a big shock in the new year. National Payments Corporation of India has issued a new guideline for UPI users. The government had also warned a few days ago that due to one carelessness, UPI account, UPI ID can be closed. This decision will affect users of apps like AmazonPay, GooglePay, PhonePe, Paytm, MobiKwik.
NPCI’s new guidelines
NPCI has said in its new guideline that if a UPI user does not make any transaction from his UPI account for one year, then his UPI ID will be closed. If a user also checks his balance during this period, his ID will not be blocked. NPCI said, it is important for customers to regularly review and verify their information within the banking system to ensure a safe transaction experience in the area of digital payments. Users can change their mobile number linked to the account but do not close the UPI account linked to that number.
Many UPI accounts will be inactive this year
The purpose of this guideline is to provide a secure experience to UPI users. This year also many UPI accounts will be inactive. It will start from 31 December 2023. NPCI will send an alert in this regard to UPI users through e-mail.