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HomePersonal FinanceUPI Payment New Rule: Big news! Now UPI based transfer via Aadhaar...

UPI Payment New Rule: Big news! Now UPI based transfer via Aadhaar OTP to be allowed by banks, know rules

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New Delhi: Good news is going to be given to the account holders of every bank. Account holders having an account with any bank will also be able to use Aadhaar and OTP to activate the Unified Payments Interface (UPI) service.

Feature launched in September 2021

At present, the account holders were given the option of Debit Card only to activate UPI. According to the news published in Economic Times, this feature was launched by the National Payments Corporation of India (NPCI) in September 2021.

The target was to start 15 December

At that time the target was to start this service by 15 December 2021. The ET report said that customers who do not have a debit card or whose card is not activated, they can now activate UPI with Aadhaar and OTP.

Extended date till March 15

According to the information, this has been possible by connecting NPCI with Unique Identification Authority of India. That is, now apart from debit cards, customers will be able to activate UPI using Aadhaar OTP authentication. The date of implementation of the new system has been extended till March 15.

This will be possible only when the UPI application is used on the mobile which has the Aadhaar registered mobile number and the same number is registered with the bank. In most mobile applications, customers have to connect with a debit card. That is, those who have access to digital banking can use UPI there.

Pravesh Maurya
Pravesh Maurya
Pravesh Maurya, has 5 years of experience in writing Finance Content, Entertainment news, Cricket and more. He has done BA in English. He loves to Play Sports and read books in free time. In case of any complain or feedback, please contact me @ businessleaguein@gmail.com
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