Good news for UPI users! If the transaction fails, the refund will be available immediately, the new rule will be applicable from this date
Upi There is good news for crores of users who use. When the transaction fails, the user will get immediate refund. Will not have to wait for this. Actually, the National Payment Corporation (NPCI) is going to implement the new rule from July 15. After this, if the money is deducted from the account but the payment is not made, then the user will get the refund immediately. That is, the money will return to his account. Not only this, in the event of sending money to the wrong UPI number, the user will be able to ask for money back from his bank. Under the new guidelines, banks will now be able to raise some rejected chargebacks themselves without the need for pre -approval from NPCI.
It will be easy to deal with old claims
The new UPI chargeback system being started by NPCI will also provide relief to such customers whose refund claims were rejected earlier. In the new rules, the bank has been exempted to re -investigate the old rejected cases and settle it.
What is the problem right now?
Currently, if the bank’s dispute request (chargeback) for an account or UPI ID pair is repeatedly rejected, the NPCI system automatically blocks further efforts citing “negative chargeback rates” (causes CD1/CD2). Banks, who consider a customer’s case valid, have to manually file a petition with NPCI to put the dispute into a “white -toed” – a time -consuming process that delays the solution. Chargesback means that if you have paid from UPI and have failed or cheated, then the process of getting your money back from the bank.
Payment made from UPI very easy
NPCI has changed the methods of payment of UPI. Earlier this payment was in 30 seconds. Now it will be paid within 10-15 seconds. The new rule has come into force from 16 June 2025. Last month, NPCI had asked banks and payment apps to upgrade their system, so that the payment would be made in just 15 seconds. The NPCI had said on April 26, 2025 that they are trying to reduce the response of UPI transactions to improve the performance.
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