Latest news with #GPay
Hindustan Times
3 hours ago
- Business
- Hindustan Times
UPI new rules come into effect: PhonePe, Google Pay users must watch out for these limits
UPI payment news changes have come into effect starting today. Implemented by the National Payments Corporation of India (NPCI), these updates aim to optimise digital payment operations across apps like Google Pay, PhonePe, Paytm and others. While the changes are not visible upfront, they will influence how certain UPI processes behave in daily use. Know how your beloved UPI is changing.(NPCI) Autopay Requests Get a Designated Window From now on, UPI autopay requests, for services like OTT subscriptions, utility bills or SIP investments, will be scheduled between 12:00 AM and 7:00 AM. This change is designed to ease pressure on the system during busy daytime hours. Users may still receive alerts or prompts outside this window, but the backend execution will be handled early morning. Balance Check Limit Introduced Frequent balance checks via UPI apps will now be subject to a daily cap. This step targets high-frequency queries, including potential misuse by bots. While the limit isn't specified publicly, most users checking their bank balance a few times a day won't notice any disruption. Faster Status for Failed Transactions One of the key updates is related to payment failures. Going forward, UPI apps must confirm whether a transaction was successful or failed within a few seconds. This will reduce the wait times users often face when their payments are marked as 'Processing' for extended durations. Stricter Checks When Linking Bank Accounts Security protocols around linking new bank accounts to UPI have been tightened. Users may experience additional verification from their banks during the linking process. This measure is meant to prevent unauthorised account additions and ensure ownership is properly verified. What UPI Users Should Expect The latest UPI rule changes are part of a broader effort to enhance security, reduce system load, and improve transaction clarity. Most users won't need to adjust how they use apps like PhonePe, Paytm or GPay, but they may notice some subtle differences in balance check limits, autopay behaviour, and how quickly failed transactions are resolved. These changes come at a time when UPI continues to see record growth in India, with over 11 billion monthly transactions and growing adoption across sectors.
India.com
2 days ago
- Business
- India.com
7 New UPI Rules From 1 August 2025: Paytm, PhonePe, GPay, BHIM Users Must Know About Latest Changes
photoDetails english 2938543 Starting 1 August 1 2025, new set of UPI rules will come into effect, changing how UPI users use the service. The new rules pertains to balance check, checking bank account links and transaction status among other major things. Here's all Paytm, PhonePe, GPay, BHIM users need to know. Updated:Jul 30, 2025, 07:08 AM IST 7 New UPI Rules From 1 August 2025 1 / 8 The National Payments Corporation of India (NPCI), which oversees the UPI ecosystem, has implemented these new limits to relieve system strain and reduce issues like payment delays and unsuccessful transactions. According to the NPCI, this move will make UPI smoother and more reliable. Here are the UPI changes that are being implemented from next month. 1. Most-Used APIs On UPI Network 2 / 8 The NPCI recently issued a circular mandating banks and PSPs to limit the use of the most-used APIs on the UPI network. These APIs include balance inquiry, fulfilling autopay mandate and checking transaction status among others. The NPCI has said that repeated API (application programming interface) requests increase pressure on the UPI network, increasing the risk of system downtime. 2. Balance Checks Capped At 50 Times 3 / 8 UPI users will be able to check their account balance only 50 times per day, starting next month. According to the NPCI guidelines, UPI apps should limit balance enquiry requests to reduce the load in peak hours. So, it set a daily cap of 50 apps per customer in 24 hours. 3. Account List Access Limited To 25 Times 4 / 8 UPI users will be able to check bank accounts linked to their mobile number only 25 times a day per app, starting next month. 4. Transaction Status Check Limited To Three 5 / 8 The number of times you can check the status of a transaction will also be limited to three and there must be a minimum of 90 seconds gap between each check. 5. Changes To UPI AutoPay Features 6 / 8 Fixed time slots are being introduced by NPCI for UPI auto pay transactions. According to this, scheduled payments, such as EMIs, utility bills, subscriptions and auto payments, will be processed during specific windows rather than at random throughout the day. 6. Changes To Affect All UPI Users 7 / 8 The new limits will apply to all users across all platforms. They will be applicable to all individuals who use applications like Paytm, Google Pay, PhonePe or any other UPI payments app. These limits have been introduced to address users who repeatedly overload the system with requests. 7. Banks To Communicate About Available Balance 8 / 8 According to the directives of the NPCI, the issuer banks will have to notify users of the available balance in their accounts after every financial transaction.
India.com
3 days ago
- Business
- India.com
UPI transaction new rules: Big update for PhonePe, GPay, Paytm users due to…, THESE rules will change from…, updates you should know
Home Business UPI transaction new rules: Big update for PhonePe, GPay, Paytm users due to…, THESE rules will change from…, updates you should know UPI transaction new rules: Big update for PhonePe, GPay, Paytm users due to…, THESE rules will change from…, updates you should know These new rules are designed to enhance system efficiency, reduce server load, and improve security for all UPI users, including customers of Google Pay, PhonePe, Paytm, and other popular apps. Starting 1st August 2025, some important changes are coming to UPI apps like Paytm, PhonePe, GPay, and others. If you use UPI regularly, it is important to know what will be different. The National Payments Corporation of India (NPCI), which manages the UPI system, is bringing in new rules to reduce pressure on the system. These changes will help avoid delays and failed payments during busy hours. New UPI limits you should know: You will only be able to check your account balance 50 times a day through any UPI app. You can view your bank account linked to your phone number only 25 times a day on a UPI app. These limits are being added to reduce unnecessary traffic on the UPI network. This way, the system will work faster and smoother, especially when many people are using it at the same time. It will also help make your transactions more secure. New AutoPay rules for UPI: Fixed time slots announced Along with new daily limits, NPCI is also bringing changes to UPI AutoPay transactions starting from 1st August 2025. This will affect payments that happen automatically, such as: Subscriptions Utility bills EMI payments Other scheduled auto payments What's changing? From now on, all AutoPay transactions will be processed only during fixed time slots during the day. This means your auto payments will not go through anytime like before, they will only be processed at the following times: Before 10:00 AM Between 1:00 PM to 5:00 PM After 9:30 PM There is no change in the transaction limit, the payment amount rules will remain the same as before. For breaking news and live news updates, like us on Facebook or follow us on Twitter and Instagram. Read more on Latest Business News on
Economic Times
5 days ago
- Business
- Economic Times
Received approval from board to raise Rs 5,000 cr: Indian Bank MD & CEO
Public sector Indian Bank has received approval from the board to raise Rs 5,000 crore during the financial year, a top official has said. The Chennai-headquartered bank reported a capital adequacy ratio of 17.80 per cent for the April-June 2025 quarter, the bank's Managing Director and CEO Binod Kumar said. "Approval is there. We have to raise Rs 5,000 crore. Not QIP (Qualified Institutional Placement) or by any other instruments. But, I do not think it (fund raise) will be required (immediately). 17.8 per cent (of Capital Adequacy Ratio) is there.., " he told PTI in a brief the April-June 2025 quarter, the Capital Adequacy Ratio of the bank rose to 17.80 per cent from 16.47 per cent recorded in the same quarter of last financial the fund raising plan, the bank is betting big on its UPI related payments proposal, as it is currently working on developing an IND-UPI application, similar to the services provided by PhonePe, GPay or PayTM. Through such an initiative, the bank would be able to save about Rs 150 crore every Kumar said the bank is developing its own UPI app named 'IND-UPI', a UPI-based payment solution similar to the current PhonePe, GPay or PayTM services."Right now, our customers are using other UPI apps and we (Indian Bank) have to pay them a fee. Monthly, it will be around Rs 12 crore. With the IND-UPI payment facility, customers will be able to make payments using our own application and through this we will be able to save Rs 12 crore per month (around Rs 150 crore per annum)", he explained that the application is currently used by the senior officials of the bank as a 'Closed User Group' and it would be rolled out to customers soon after getting the approval from NPCI."By this initiative, we will be able to save a handsome amount. We will be able to pass on the benefits to our own customers like providing incentives whenever they use IND-UPI app to make UPI-transactions," he a query about hiring plans, he replied in the affirmative, stating they have received approval to recruit 3,000 employees during the current financial year across "all levels." "It will be 3,000 people across all levels this year. We are going to do specialised hiring like cyber security, risk specialists, there will be multiple specialised roles," he Bank reported a 24 per cent rise in net profit to Rs 2,973 crore in the April-June 2025 quarter. The bank earned a net profit of Rs 2,403 crore in the corresponding quarter of last financial year."The result is in line because earlier the growth has been a challenge for us. But this quarter we have grown in double digit. Earlier we grew in single digit," he the bank's target for this year under the recoveries segment, he said, "We have given guidance of Rs 5,500 to Rs 6,500 crore for the year. But in this April-June 2025 quarter itself, we have recovered Rs 2,059 crore. It is a good one". The total income of the bank grew to Rs 18,721 crore during the April-June 2025 quarter from Rs 16,945 crore registered in the corresponding quarter of last financial year. PTI
Mint
5 days ago
- Business
- Mint
Received approval from board to raise ₹5,000 cr: Indian Bank MD & CEO
Chennai, Jul 27 (PTI) Public sector Indian Bank has received approval from the board to raise ₹ 5,000 crore during the financial year, a top official has said. The Chennai-headquartered bank reported a capital adequacy ratio of 17.80 per cent for the April-June 2025 quarter, the bank's Managing Director and CEO Binod Kumar said. "Approval is there. We have to raise ₹ 5,000 crore. Not QIP (Qualified Institutional Placement) or by any other instruments. But, I do not think it (fund raise) will be required (immediately). 17.8 per cent (of Capital Adequacy Ratio) is there.., " he told PTI in a brief interaction. During the April-June 2025 quarter, the Capital Adequacy Ratio of the bank rose to 17.80 per cent from 16.47 per cent recorded in the same quarter of last financial year. Besides the fund raising plan, the bank is betting big on its UPI related payments proposal, as it is currently working on developing an IND-UPI application, similar to the services provided by PhonePe, GPay or PayTM. Through such an initiative, the bank would be able to save about ₹ 150 crore every year. Elaborating, Kumar said the bank is developing its own UPI app named 'IND-UPI', a UPI-based payment solution similar to the current PhonePe, GPay or PayTM services. "Right now, our customers are using other UPI apps and we (Indian Bank) have to pay them a fee. Monthly, it will be around ₹ 12 crore. With the IND-UPI payment facility, customers will be able to make payments using our own application and through this we will be able to save ₹ 12 crore per month (around ₹ 150 crore per annum)", he said. Kumar explained that the application is currently used by the senior officials of the bank as a 'Closed User Group' and it would be rolled out to customers soon after getting the approval from NPCI. "By this initiative, we will be able to save a handsome amount. We will be able to pass on the benefits to our own customers like providing incentives whenever they use IND-UPI app to make UPI-transactions," he said. To a query about hiring plans, he replied in the affirmative, stating they have received approval to recruit 3,000 employees during the current financial year across "all levels." "It will be 3,000 people across all levels this year. We are going to do specialised hiring like cyber security, risk specialists, there will be multiple specialised roles," he said. Indian Bank reported a 24 per cent rise in net profit to ₹ 2,973 crore in the April-June 2025 quarter. The bank earned a net profit of ₹ 2,403 crore in the corresponding quarter of last financial year. "The result is in line because earlier the growth has been a challenge for us. But this quarter we have grown in double digit. Earlier we grew in single digit," he said. On the bank's target for this year under the recoveries segment, he said, "We have given guidance of ₹ 5,500 to ₹ 6,500 crore for the year. But in this April-June 2025 quarter itself, we have recovered ₹ 2,059 crore. It is a good one".
