UPI New Rules: The Reserve Bank of India has increased the transaction limit of UPI 123Pay from 5 thousand to 10 thousand rupees. This new rule will come into effect from January 1, 2025. Payment can be made with this service without internet connection. Apart from this, users will also need OTP for payment.
UPI New Rules: There are going to be some changes in the rules from January 1. But the biggest change is going to be in UPI rules. Today we are going to give you information about the rules of UPI. Along with this, we will tell you what new is going to be found in it. RBI has decided that the transaction limit of UPI 123Pay will be changed. Reserve Bank of India has decided to increase the limit. Using UPI 123Pay, users will be able to transact 10 thousand rupees instead of 5 thousand.
What is UPI 123Pay
UPI 123Pay service is provided to the users. This is a service in which users are given the option to make payment without internet connection. This is the reason why RBI makes every effort to control such transactions. But now this has also been changed. In UPI 123Pay, users are given a maximum of 4 options to make payment. IVR numbers, missed calls, OEM-embedded Apps and sound based technology are used in this.
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What is the deadline
The deadline has been issued for the new rules of UPI. In this, users will be given time till January 1, 2025. That is, users will be able to easily make transactions up to Rs 10,000 after this. However, with this, OTP based service has been added. That is, you will need OTP to make payment. If you want to make payment, then OTP has to be used. Because this decision has been taken keeping security in mind.
UPI has reached abroad
UPI service has been started in many countries including Sri Lanka. The Indian system has spread its wings to the outside in no time. New decisions are taken by the government regarding this.
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