Personal Finance
NPCI issued guidelines for deactivating UPI IDs, UPI numbers, and phone numbers of inactive customers from December 31.
Updated : Nov 20, 2023, 06:43 PM IST | Edited by : Maitry Kothari
National Payments Corporation of India has announced new guidelines that will deactivate your UPI IDs. All banks and third-party apps are going to block those UPI IDs in which no transaction has been done for over a year from any Third Party Application Providers (TPAPs) or PSP applications from December 31.
“In the realm of digital payments, it is essential for customers to regularly review and verify their information within the banking system to ensure a safe and secure transactional experience. However, it has come to our attention that customers may change to a new mobile number without disassociating their previous number from the banking system," NPCI said in its guidelines.
De-activation refers to the process of disabling an inactive customer's UPI ID or number for inward credit transactions, according to Mehul Mistry, Global Head of Strategy, Digital Financial Services & Partnerships, Wibmo, a PayU firm.
“The guideline is aimed at ensuring security, reliability, preventing inadvertent transfers of funds to unintended recipients, and safeguarding the interests of UPI users," said Mehul Mistry.
NPCI new guidelines: