UPI rule change from 1 August, today: Cap on balance check and more — What’s new?

UPI Rule Change From Today: The National Payments Corporation of India (NPCI) is implementing a few new UPI rule changes from 1 August, Friday, to improve how the system works. If you are someone who uses the UPI services like PhonePe, Google Pay and Paytm frequently, then you must know about these online payment system changes.

The NPCI is making the new UPI rule changes from 1 August to make payments smooth. This will affect your day-to-day UPI transactions, but will not cause any hindrance if you are cautious enough.

Here is a list of UPI changes from today:

1. Starting today, you will not be able to check your bank balance on your PhonePe, Google Pay and other apps for an unlimited number of times. The government will put a cap on the number of times you can check your bank balance via UPI. The NPCI has set the UPI bank balance check limit at 50, to o decrease the pressure on the Application Programming Interfaces (API) system during the peak hours.

2. Another new UPI rule that has kicked in is that you will be able to see the available account balance after each UPI transaction. This is especially useful given the fact that the NPCI has put a limit on checking account balance manually under new UPI rules.

3. The UPI new rules also include processing scheduled bill payments during fixed hours. This has been done to ease the burden on the daily UPI transactions. Auto payments to merchants or scheduled OTT platforms will now be done before 10 am or after 9:30 pm — during non-peak hours.

(This is a developing story. Check back for updates)