#npci

[megayogiposts]

Issues with NPCI Server Affecting Student Grants

Grievance Status for registration number : PMOPG/E/2024/0183077Grievance Concerns ToName Of ComplainantYogi M. P. SinghDate of Receipt22/12/2024Received By Ministry/DepartmentPrime Minister’s OfficeGrievance DescriptionThere is no fault on the part of the applicant since the website is not working correctly which is the Root Cause of the server error on the part of national payment corporation of…

[rightnewshindi]

UPI आईडी में तुरंत करें यह बदलाव, नहीं तो 1 फरवरी से नहीं कर पाएंगे पेमेंट; NPCI ने किया बड़ा बदलाव

#News UPI आईडी में तुरंत करें यह बदलाव, नहीं तो 1 फरवरी से नहीं कर पाएंगे पेमेंट; NPCI ने किया बड़ा बदलाव

UPI Payments News: नेशनल पेमेंट्स कॉर्पोरेशन ऑफ इंडिया (NPCI) की ओर से बीते दिनों नियमों में बदलाव किया गया है और साफ किया गया है कि अब UPI ID में कोई स्पेशल कैरेक्टर्स नहीं शामिल किए जा सकते हैं। प्लेटफॉर्म ने साफ किया है कि 1 फरवरी, 2025 के बाद UPI IDs या ट्रांजैक्शन ID में स्पेशल कैरेक्टर्स होने पर पेमेंट फेल हो जाएगा। अगर आपकी UPI ID में स्पेशल कैरेक्टर है तो आपको फौरन बदलाव करना होगा। बीते…

[preetisinghuniverse]

Uttar Pradesh Government IT Department Grievance Report

Grievance Status for registration number : GOVUP/E/2024/0090663Grievance Concerns ToName Of ComplainantYogi M. P. SinghDate of Receipt12/12/2024Received By Ministry/DepartmentUttar PradeshGrievance DescriptionThe matter concerns the working of the Department of IT and Electronics of the Government of Uttar Pradesh. The outline and the summary of the grievance is as follows.Most respected sir…

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[baitdragon]

NPCI Introduces Guidelines to Tackle Digital Arrest Scams and Cybercrime

In light of the rising incidents of digital arrest scams, the National Payments Corporation of India (NPCI) has issued comprehensive guidelines aimed at combating cybercrime and protecting consumers. These scams typically involve fraudsters posing as law enforcement officials or representatives of payment platforms, tricking individuals into transferring money under the guise of legal action or account freezes. The NPCI’s proactive approach is aimed at curbing the alarming rise in these deceptive tactics, which have caused significant financial losses for individuals and businesses alike.

Strengthening Security Protocols in Digital Payments

The new guidelines by NPCI are designed to enhance the security framework of digital payment systems. Key measures include the introduction of advanced authentication methods, like two-factor verification and real-time transaction alerts, to ensure that users are alerted to suspicious activities instantly. These measures are expected to prevent unauthorized transactions and ensure greater security in online payments. NPCI is also pushing for the integration of security features across all payment platforms, requiring them to adopt the latest cybersecurity standards to safeguard sensitive information.

Raising Awareness Among Consumers

To further combat digital arrest scams, the NPCI is focusing on educating users about the risks associated with digital payments. A significant part of the new guidelines involves awareness campaigns to help users recognize red flags of fraud, such as unsolicited calls claiming urgent legal action or requests for money transfers. The NPCI is also collaborating with financial institutions to disseminate information about these scams through social media, SMS alerts, and customer service channels. The goal is to empower consumers with the knowledge needed to avoid falling victim to such deceptive practices.

Collaboration with Financial Institutions and Authorities

As digital payment systems continue to grow in India, NPCI is working closely with financial institutions, regulatory bodies, and law enforcement agencies to strengthen the overall security landscape. This collaborative effort includes conducting joint investigations into cybercrime activities and setting up reporting mechanisms for victims of scams. The NPCI is also advocating for stricter regulatory measures to ensure that financial institutions adopt security best practices and comply with guidelines to combat fraud. By fostering these partnerships, the NPCI aims to create a more secure digital payment environment and reduce the risk of cybercrimes in the future.

With digital payment systems becoming an integral part of everyday life, the need to address emerging risks like digital arrest scams has never been more urgent. The NPCI’s efforts to improve security and raise awareness about fraud are crucial steps in ensuring that India's rapidly growing digital economy remains safe and trustworthy for all users.

[bogorexpose]

Ketua DPRD Dukung Penuh Program SKOD Kabupaten Bogor

BOGOR – Ketua DPRD Kabupaten Bogor, Rudy Susmanto mendukung rencana NPCI yang tengah merintis pembentukan Sekolah Khusus Olahraga Disabilitas (SKOD) atau Pusat Pembinaan Olahraga Disabilitas (PPOD). Menurutnya, dirinya dan jajaran DPRD Kabupaten Bogor akan mendukung usulan positif apapun yang datang dari para pelaku olahraga di Kabupaten Bogor. “Banyak usulan positif bagi kemajuan olahraga di…

[phonemantra-blog]

In today's fast-paced India, digital wallets like Google Pay, PhonePe, and Paytm have revolutionized how we handle finances. From paying your neighborhood chai stall to settling hefty bills at the supermarket, the Unified Payments Interface (UPI) has become the go-to method for seamless and secure transactions. But with this newfound convenience comes the question of limitations – how much can you transfer using UPI? Worry not, this comprehensive guide will equip you with all the knowledge you need to navigate UPI transaction limits in India. UPI Transaction Limits Unveiling the UPI Transaction Limit Landscape The National Payments Corporation of India (NPCI), the governing body behind UPI, sets the standard limits for daily transactions. As per their guidelines, most routine UPI transactions are capped at a comfortable Rs 1 lakh per day. This covers all your regular purchases, bill payments, and money transfers to friends and family. Exceptions to the Rule: Higher Limits for Specific Sectors While the Rs 1 lakh limit caters to most everyday needs, certain sectors require larger transactions. Recognizing this, the Reserve Bank of India (RBI) has implemented higher limits for specific categories: Education & Healthcare: Understanding the importance of uninterrupted financial support for vital services, UPI transactions for educational institutions and hospitals enjoy a significantly higher limit of Rs 5 lakh per day. This revised limit, effective from December 8th, 2023, ensures smooth fee payments and billing processes within these institutions. Insurance: Managing insurance premiums requires flexibility. UPI transactions related to insurance can be conducted up to a limit of Rs 2 lakh per day. This allows for easier settlement of insurance payments without exceeding the standard limit. IPOs & Retail Direct Schemes: Participating in the stock market often involves larger investments. To facilitate this, the transaction limit for Initial Public Offerings (IPOs) and retail direct schemes is set at a substantial Rs 5 lakh per transaction. Understanding Bank-Specific Limits: It's Not Just NPCI While NPCI sets the national framework, individual banks can establish their limitations on UPI transactions within the overall guidelines. Here's an example: HDFC Bank: As an illustration, HDFC Bank has set a daily limit of Rs 1 lakh or 20 transactions for both person-to-person (P2P) and person-to-merchant (P2M) transactions using UPI. If you reach this limit within 24 hours, you'll have to wait until the next day to resume UPI transactions. Third-Party App Restrictions: Knowing Your Limits If you use UPI apps offered by entities other than your bank (third-party apps), the number of transactions might be capped. Typically, these apps have a lower limit compared to bank-specific UPI platforms. For instance, some third-party UPI apps might restrict the number of transactions to 10 per day. This information is usually readily available within the app itself or through the app provider's website. Security and the Power of UPI One of the key factors driving the widespread adoption of UPI is its robust security features. The two-factor authentication process, coupled with the convenience of QR code scanning for smaller payments, ensures a safe and user-friendly experience. A Recap: UPI Transaction Limits at a Glance For a quick reference, here's a table summarizing the various UPI transaction limits: CategoryTransaction LimitRegular Daily TransactionsRs 1 lakh/dayEducational Institutions & HospitalsRs 5 lakh/dayInsurance TransactionsRs 2 lakh/dayIPOs & Retail Direct SchemesRs 5 lakh/transactionP2P & P2M Transactions (HDFC Bank Example)Rs 1 lakh or 20 transactions/dayThird-Party UPI Apps (May Vary)10 transactions/day (or as specified by the app provider) Frequently Asked Questions Q: Can I increase the daily limit on my UPI transactions? A: Generally, no. The limits are set by NPCI and individual banks for security reasons. However, you can contact your bank to inquire about any exceptions or potential upgrades to your UPI account based on your banking history and needs. Q: How do I find out the specific UPI transaction limit for my bank? A: The easiest way is to visit your bank's website or mobile app and search for information on UPI limits. Alternatively, you can contact your bank's customer service department.

[myra-joshi]

RBI Governor Discusses UPI Expansion Strategies with Stakeholders

Reserve Bank of India (RBI) Governor Shaktikanta Das met with important people involved in the unified payments interface (UPI) system to talk about ways to make UPI more widely used.

These people included banks, the National Payments Corporation of India (NPCI), companies that make UPI apps, and technology providers.

They talked about how to make UPI better, like making it work for more people and adding new features. They also discussed the problems they face and came up with new ideas to get more people using digital payments.

Deputy Governor T Rabi Sankar and other top RBI officials were also there. The RBI will now look at all the ideas and decide what to do next.

[sanjana-s]

Understanding NPCI's Role in Shaping India's Digital Payments Future

By the end of this year, the National Payments Corporation of India (NPCI) might change its decision about limiting the market share of companies offering Unified Payments Interface (UPI) services to 30%. The deadline for this limit to take effect is December 2024.

A source in the industry told Business Standard that the 30% cap on transaction volume for UPI services will be reviewed by the end of the year.

In November 2022, a 30% cap on transaction volume for third-party app providers was proposed. UPI players were asked to limit their market share to 30% within two years.

In March, the NPCI discussed UPI growth with new players and strategies to empower them in the UPI ecosystem. This included encouraging third-party payment apps to attract users through investments and incentives.

Brands like Cred, Slice, Fampay, Zomato, Groww, and Flipkart are trying to attract users and promote their UPI services.

Last year, NPCI introduced an interchange fee on prepaid payment instrument (PPI)-based merchant transactions through UPI. The interchange fee for PPI issuers on transactions over Rs 2,000 is up to 1.1%, but it applies only to PPI-based merchant UPI transactions. UPI transactions in India increased by 56% in volume and 44% in value in FY24 compared to the previous year.

Google Pay, PhonePe, and Paytm were not invited to a recent meeting. This was because these three companies control more than 90% of both the number and value of UPI transactions.

NPCI wants to hear from different people about how they can make things fairer for smaller companies in the payment system.

Earlier this week, NPCI said One 97 Communications (OCL), Paytm's parent company, can move its users to new banks for UPI payments. This means Paytm can now offer UPI services through other banks.

In March, NPCI also let OCL work as a Third-Party Application Provider (TPAP) using many banks.

"After NPCI said yes on March 14, 2024, to let OCL work as a Third-Party Application Provider (TPAP) using many banks, Paytm has made it easier to move user accounts to Axis Bank, HDFC Bank, State Bank of India (SBI), and YES Bank. All four banks are now ready to help Paytm with this," the company said in a stock exchange filing.

[livewellnews]

“Paytm Shares Surge 5% as NPCI Approval Sparks Investor Optimism”

Discover the latest surge in Paytm shares as investor optimism soars following the approval from the National Payments Corporation of India (NPCI). One97 Communications, the parent company of Paytm, witnessed its shares rise by 5.00% to reach 370.70 rupees each.

The approval from NPCI allows Paytm to participate in UPI (Unified Payments Interface) services as a Third-Party Application Provider (TPAP), ensuring seamless UPI transactions and AutoPay mandates for users and merchants. This significant milestone underscores Paytm’s commitment to innovation and enhancing its financial technology offerings.

Unlike competitors like PhonePe or Google Pay, Paytm, leveraging its banking arm, did not require a separate TPAP license. As part of the new partnership, Yes Bank, Axis Bank, SBI, and HDFC Bank will serve as Payment Service Providers (PSPs) for Paytm, with Yes Bank tasked with managing existing Paytm Payments Bank Limited (PPBL) UPI users.

Despite a slight dip in monthly transactions from January to February, Paytm remains the third-largest UPI payments app in India, processing 1.41 billion transactions in February alone. With nearly 12% share in UPI payments, Paytm continues to play a significant role in shaping India’s digital payments landscape.

As Paytm solidifies its position in the fintech sector with NPCI approval and strategic partnerships, investors are eyeing its future growth trajectory with heightened optimism. Stay tuned for further updates on Paytm’s journey as it continues to innovate and evolve in the dynamic world of digital finance.

[sabkiawaaj]

Payments Possible Through UPI in These Countries, Not Just in India

Payments Possible Through UPI in These Countries, Not Just in India The Unified Payments Interface (UPI), a groundbreaking digital payment system that has transformed the way financial transactions are conducted in India, is now extending its reach beyond the nation’s borders. This expansion marks a significant milestone in the global adoption of India’s innovative payment infrastructure,…

[martin-james2121]

These 5 UPI payments rules are changing This January 2024

The Unified Payments Interface (UPI) has emerged as a highly favored payment method in India. Introduced by the National Payments Corporation of India (NPCI) in 2016, it revolutionized the country’s payment landscape, altering how individuals transact money.

In the past few months, NPCI has unveiled various alterations in UPI payments, and here's an insight into the changes set to be implemented in January and those currently under consideration.

1. The limit for some UPI transactions increased

In December, RBI Governor Shaktikanta Das revealed an increase in the UPI transaction limit, raising it from the previous Rs 1 lakh to Rs 5 lakh. This adjustment applies specifically to payments made to hospitals and educational institutions with the aim to enhance the utilization of UPI for online payments, as stated during the announcement of the bi-monthly Monetary Policy Committee.

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[chequpi]

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Score the ultimate travel goal with Cheq UPI! 📲 Say goodbye to hassles, hello to seamless payments. Your match-winning move! 🏆🎉

Official Website - https://www.chequpi.com/  #worldcup2023 #chequpi #upiforeveryone #npci #upione #upiforforeigntravellers