Latest news with #NationalPaymentsCorporationofIndia
News18
4 hours ago
- Business
- News18
‘Thalliki Vandanam' Scheme: How To Get Rs 15,000 Aid – Step-by-Step Guide For Mothers
Last Updated: Thalliki Vandanam Scheme: Andhra government will deposit Rs 15,000 directly into the accounts of students' mothers. Certain key conditions must be fulfilled to receive this benefit The Andhra Pradesh government has announced a key update on the 'Thalliki Vandanam' scheme. As part of the newly formed coalition government's 'Super Six' promises made during the elections, the scheme is set to be implemented this June. With schools reopening on June 12 after the summer break, the government is taking steps to ensure financial assistance reaches the mothers of school-going children on time. Under the 'Thalliki Vandanam' scheme, the state government will deposit Rs 15,000 directly into the bank accounts of students' mothers. The amount is intended as a token of respect for the efforts and dedication of mothers towards their children's education. However, to receive this benefit, certain important conditions must be fulfilled. To be eligible for the payment, the mother's bank account must be linked to both: Her Aadhaar number, and The NPCI (National Payments Corporation of India) system. Officials have clearly stated that if either of these linkages is missing, the payment will not be processed. According to recent government orders, the Aadhaar and NPCI linking process must be completed by June 5. To facilitate this, postal department staff, village/ward secretariats, and bank officials will assist beneficiaries in completing the necessary procedures. Authorities have urged all eligible mothers to check whether their bank accounts are linked with Aadhaar and NPCI. If not, the linking must be completed urgently through the nearest Mee Seva centre, post office, or bank branch. NPCI linking is essential for enabling direct benefit transfers (DBT) under government schemes. Without it, even if the money is released, it won't be credited to the beneficiary's account. To avoid inconvenience, the government has directed all departments to provide special support. Linking centres are also being set up in rural areas to make the process easier for beneficiaries. The government emphasises that this is not just a financial aid programme, but a gesture to recognise and honour the pivotal role played by mothers. It also marks the beginning of fulfilling the 'Super Six' promises, aimed at increasing public trust and welfare. First Published: June 02, 2025, 10:55 IST
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Business Standard
21 hours ago
- Business
- Business Standard
UPI numbers hit all-time high in May, cross Rs 25 trn for the first time
Transactions on the Unified Payments Interface (UPI) touched an all-time high of 18.68 billion in volume and ₹25.14 trillion in value in May, the National Payments Corporation of India (NPCI) data revealed on Sunday. The May numbers were up 4 per cent in volume and 5 per cent in value, compared to 17.89 billion and ₹23.95 trillion, respectively in April. The transaction volume also reflects a 33 per cent year-on-year (Y-o-Y) jump, while the value was up 23 per cent. The previous record numbers were in March 2025, when the digital payment system clocked 18.3 billion in volume and ₹24.77 trillion in value. The number of daily transactions too increased from 596 million in April to 602 million in May this year, leading to a rise in value from Rs 79,831 crore in April to Rs 81,106 crore in May. There were 464 million Immediate Payment Service (IMPS) transactions in May, up 3 per cent from 449 million in April. IMPS transactions also climbed 3 per cent in value terms from ₹6.22 trillion in April to ₹6.41 trillion in May. This was seen at 462 million in volume and ₹6.67 trillion in value in March. The numbers in May were down by 17 per cent in volume and up by 6 per cent in value compared to the same period in 2024. The number of daily transactions dipped from 14.98 million to 14.96 million between April and May this year, leading to a drop in daily value from ₹20,722 crore to ₹20,673 crore. On the other hand, the number of FASTag transactions increased by 5 per cent to 404 million in volume during the month under review versus 383 million in April. The value also zoomed 4 per cent to ₹7,087 crore, compared to ₹6,801 crore in April. In March, this was seen at 379 million and Rs 6,800 crore, respectively. The May FASTag numbers were 16 per cent up in volume and 20 per cent in value versus the same month in 2024. The number of daily transactions increased from 12.75 million to 13.05 million, raising the value to around ₹229 crore from ₹227 crore during the same period. During the month under review, the Aadhaar Enabled Payment System (AePS) also jumped 11 per cent to 105 million transactions from 95 million in April. The value of transactions during May this year was ₹28,703 crore, up 8 per cent compared to ₹26,618 crore in April. The number of daily transactions was 3.37 million in volume and ₹926 crore in value, up from 3.18 million and ₹887 crore, respectively in April. AePS saw a 16 per cent increase in volume and 23 per cent in value compared to May 2024.
Mint
3 days ago
- Business
- Mint
UPI Circle goes cross-platform: Here's how it works across BHIM, GPay and PhonePe
Managing daily payments for elderly family members or dependents, long a logistical challenge for many Indian households, just got easier. The National Payments Corporation of India (NPCI) has expanded the UPI Circle feature, previously exclusive to the BHIM app, to work interoperably across major platforms like PhonePe and Google Pay. The upgrade transforms UPI Circle into a practical, everyday tool for families who use different apps to manage shared expenses. 'UPI Circle now enables interoperability between apps like BHIM, GPay, and PhonePe. This allows primary and secondary users to link and transact even if they are on different UPI platforms,' a spokesperson from PhonePe said. UPI Circle allows a primary user to authorize trusted secondary users, such as family members, friends, or caregivers, to make payments from their bank account within pre-set limits. Previously, this feature could only be accessed on the BHIM app. That limitation posed a barrier to many users who preferred other UPI apps like PhonePe or GPay. This means a caregiver using BHIM can now transact on behalf of an elderly parent who prefers PhonePe, or vice versa, without switching platforms. With UPI Circle now supporting cross-platform functionality, users can link across different UPI apps to enable delegated payments. A common scenario is where a primary user on PhonePe authorizes a secondary user on the BHIM app to make transactions on their behalf. The setup process and payment flow have been designed to be intuitive and secure, enhancing convenience for families managing shared financial responsibilities. To initiate the process, the primary user on PhonePe begins by navigating to the UPI Circle section on the home screen. From there, they select the option to 'invite a secondary contact'. The primary user can either pick a contact saved on their device or manually enter the secondary user's UPI ID. Alternatively, they can scan the secondary user's QR code, which can belong to any UPI app that supports the UPI Circle feature, including BHIM, GPay, or PhonePe. In this case, the secondary user is on the BHIM app. Once the invitation is sent, the secondary user receives a notification on the BHIM app and accepts the invite. The primary user on PhonePe is then alerted that the invite has been accepted, completing the linking process. From this point onward, the secondary user is authorized to initiate payments using the primary user's account, in accordance with the permissions granted. The payment flow between the two apps is also seamless. The secondary user on BHIM initiates a payment by either scanning a QR code, entering a VPA, or typing in a mobile number. When prompted to choose a payment instrument, they select the primary user's account, which was previously linked via UPI Circle. After confirming the payment request, the primary user receives a real-time notification on the PhonePe app. The primary user can then approve or decline the transaction by entering their UPI PIN. Once approved, the transaction is completed, and both parties—on BHIM and PhonePe—receive confirmation messages. The transaction is also recorded in the history section of both apps, ensuring transparency and easy tracking. This interoperability between apps like PhonePe and BHIM makes UPI Circle significantly more accessible and useful in real-world settings, especially for households where family members use different UPI platforms. UPI Circle supports two types of access—partial and full. In partial delegation, the secondary user can initiate a payment, but the transaction must be approved by the primary user, who completes it by entering their UPI PIN. This setup is ideal for situations where the primary user wants to maintain direct control over every transaction while still allowing someone else to initiate payments. For instance, a child making a payment request on behalf of a parent, who then authorizes it in real time. In full delegation, the primary user gives the secondary user complete authority to make payments independently, within a defined limit—up to ₹ 5,000 per transaction and ₹ 15,000 per month. This is useful in scenarios where the primary user may not always be available to approve transactions, such as an elderly parent authorizing a caregiver to make daily purchases without needing frequent PIN approvals. However, as of now, full delegation is only supported on the BHIM app. PhonePe and GPay currently support only partial delegation, with full delegation expected to roll out on these platforms soon. Real-time alerts for every transaction and the ability to revoke access at any time provide reassurance to primary users, particularly those who may be less tech-savvy and concerned about fraud. The adoption of UPI Circle by apps like PhonePe and GPay is expected to drive broader usage of the feature, especially among users who rely on different UPI apps for daily transactions. The move also reflects the growing maturity of India's digital payments ecosystem, where interoperability and user control are increasingly prioritized. The cross-platform availability of UPI Circle strengthens its core value proposition: simplifying financial delegation while preserving user oversight. For millions of Indians managing payments for others, it's no longer just a feature—it's a much-needed solution that fits seamlessly into their digital lives.
NDTV
6 days ago
- Business
- NDTV
Big Changes For UPI Users: NPCI To Roll Out New API Restrictions From August 1
Starting August 1, 2025, the Unified Payments Interface (UPI) system in India will undergo significant changes aimed at reducing system overload and preventing outages. In a circular, the National Payments Corporation of India (NPCI) has directed banks and payment service providers (PSPs) to limit the use of 10 key Application Programming Interfaces (APIs) on the UPI network by July 31, 2025. The 10 APIs include essential functions such as balance inquiries, transaction status checks, and autopay mandate executions. The goal is to reduce the load on the UPI system and prevent outages. By implementing these limits, NPCI aims to ensure a more stable and efficient digital payment experience for users. "Banks and Payment Service Providers must make sure they watch and control all API requests (in terms of speed and transactions per second limits) sent to UPI for proper usage (both customer-started and system-started requests)," the circular dated May 21, 2025, states. The NPCI circular warns that non-compliance with the new API usage guidelines may result in consequences such as API restrictions, penalties, suspension of new customer onboarding, or other measures deemed fit by NPCI. NPCI has prescribed the following restrictions: Balance Enquiries: Limited to 50 checks per app, per user, per day. This means if you're using multiple UPI apps like Paytm and PhonePe, you'll have 50 balance checks on each app. Linked Account Queries: Restricted to 25 queries per app, per day, with explicit user consent required. Autopay mandates will only be executed during non-peak hours (outside 10 AM-1 PM and 5 PM-9:30 PM). Each mandate will have 1 attempt with up to 3 retries, operating under controlled transaction rates. Transaction Status Checks: Banks and apps must wait at least 90 seconds before checking transaction status after authentication. Only 3 status checks are allowed within a 2-hour window per transaction. Non-user-initiated API calls will be restricted during peak hours (10 AM-1 PM and 5 PM-9:30 PM) to reduce system load. Compliance and Audits: Banks and payment service providers must submit undertakings by August 31, 2025, confirming they are queuing and throttling API calls properly. Acquiring banks are required to undergo annual system audits by CERT-In empanelled auditors, starting August 31, 2025. These changes aim to ensure the stability, speed, and reliability of the UPI system, particularly during high-traffic periods. Users may need to adjust their habits, especially heavy users, but the changes are designed to benefit the overall digital payments ecosystem.
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Business Standard
7 days ago
- Business
- Business Standard
No more scams: UPI apps to now show recipients' bank-registered names only
To boost security and reduce fraud in digital payments, the National Payments Corporation of India (NPCI) has directed the Unified Payments Interface (UPI) apps to display the actual names of the recipients registered with their banks during a UPI transaction. The directive will come into effect from June 30. What does the new UPI rule say? According to an official circular issued by NPCI, the only beneficiary name visible to users during a UPI transaction will be the one officially linked to the bank account. This means: · UPI apps can no longer display customised or user-set names that differ from bank records. · The displayed name must exactly match the bank's record without any alterations. Why is NPCI enforcing this rule? Also Read · Prevent fraud: Fake or misleading beneficiary names have been used by fraudsters to trick users into transferring money to unintended recipients. · Enhance trust: Users will have more confidence that the person they are paying is genuinely who they intend to pay. · Reduce disputes: Misunderstandings caused by mismatched beneficiary names will decline, leading to smoother transactions. What does this mean for users? · More transparency: Users can verify the payee's name as per bank records before confirming payment. · Lower risk of scams: Reduced chance of falling for fake or deceptive beneficiary names. · Potential initial confusion: Some users may find differences between the previously saved names in their app and the new official names, but this is a step toward safer payments. UPI app providers must update their platforms to comply with NPCI's mandate. This involves technical adjustments to fetch and display only the bank-registered beneficiary name in the payment flow. NPCI's new rule is a significant step toward enhancing the security and reliability of UPI payments. By ensuring that only verified, bank-registered beneficiary names are displayed, users get an additional layer of assurance. As digital payments continue to surge in India, such measures will be crucial to protect consumers from fraud and maintain trust in the system.
