Upi There is good news for crores of people who transact from. Yes, today i.e. from June 16, transactions through UPI have become even faster. The National Payment Corporation of India (NPCI) has now reduced process time to 10 seconds for payment. UPI (Unified Payments Interface) is an immediate payment system, which NPCI has developed by mobile phones to facilitate transactions among banks. According to the recent circular of NPCI, transactions including money transfer and refund will now be completed in 10 to 15 seconds instead of 30 seconds. In this way, the time taken to verify the address in UPI payment from June 16 will now take only 10 seconds compared to the earlier 15 seconds.
How many times in a day will you be able to check the balance
The NPCI said that the purpose of amending process time is to improve customer experience. According to another NPCI circular, customers will soon be able to check their account balance 50 times a day through their UPI app. However, according to an expert, there is no limit to check the balance of bank account in a day so far and the limit of 50 has been started keeping in mind the systemic efficiency.
SEBI has recently made changes in the rules of UPI transaction
Let us tell you that there have been many development recently regarding UPI. On one hand, Sebi has said that the transaction through UPI in the security market is being strengthened considerably in terms of security. To strengthen investors, the market regulator is developing a new potential called ‘SEBI Czech’. These new instruments will enable the QR code scan or by entering UPI ID and confirming bank details of registered intermediary account number and IFSC code to verify the authenticity of UPI identity.
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