NPCI asks banks to deactivate these UPI IDs by Dec 31

Invalid UPI IDs will get deactivated by December 31: The National Payments Corporation of India (NPCI) has set a December deadline for deactivating UPI IDs and numbers that have been inactive for over a year. This move aims to prevent unintended money transfers when customers change their mobile numbers without disassociating them from the banking system. The biggest UPI payment apps in India, including Google Pay, Paytm, and PhonePe, are affected by this directive. Additionally, telecom companies can issue deactivated mobile numbers to new users after 90 days, which may lead to inadvertent transfers. The guidelines stress the importance of regularly reviewing and verifying information within the banking system.

from Times of India https://ift.tt/SGmV9P8