Now money will not go to the wrong account through UPI by mistake, know how

NPCI News Rule For UPI Transaction: In today's era, the use of cash has reduced a lot. Now people make digital payments for every small and big transaction. Today, crores of transactions take place daily in the country through UPI i.e. Unified Payments Interface. Through UPI payment, money is transferred from one account to another in just a few seconds.

Many times, people transfer money to the wrong people's accounts, which causes trouble. But now this will not happen, as NPCI, i.e., the National Payments Corporation of India, has issued a rule related to UPI. Let us tell you what this rule is.

NPCI brings a new rule regarding UPI payment

National Payments Corporation of India i.e. NPCI has come up with a new rule. Under which your money will not go into the wrong hands. Let us tell you that through UPI, P2P i.e. Peer to Peer and P2PM i.e. Peer to Peer Merchant. On doing any kind of transaction, now the name of the account holder will appear which will be registered in CBS i.e. Core Banking System.

Meaning that while making payment, you will see the name which is registered in the bank account. Even if the number of that person is saved in your phone with any name. Many times due to people having different names. Confusion happens and due to this money goes to wrong accounts. But now this will not happen. From 30 June 2025, this new rule will be implemented for all UPI apps.

What if money goes to the wrong account from UPI?

Many times, even while doing transactions very carefully, something or the other often goes wrong. If you have also mistakenly sent money to someone else's account. Then first you have to contact that person and tell him that you mistakenly sent money to his account. In such a case, the chances are very less that he will return your money. But sometimes the money is returned.

If that person is not returning your money. Then you can lodge a complaint in your bank that you have sent money to the wrong account. Apart from this, you can register a complaint about this by calling on toll free number 18001201740. You can also register a complaint about this on the NPCI portal.