UPI ACCEPTING :-
what are upi transaction
UPI stands for Unified Payments Interface, which is a real-time payment system developed by the National Payments Corporation of India (NPCI). UPI allows users to transfer money between bank accounts instantly using a mobile phone. UPI transactions can be used for a variety of purposes, such as transferring money to friends and family, paying bills, or buying goods and services online.
To use UPI, you need to have a bank account linked to a mobile number and a UPI-enabled mobile banking app. Once you have set up the app, you can send and receive money using a virtual payment address (VPA), mobile number, or account number and IFSC code. UPI transactions are secure and can be authenticated using a UPI PIN or biometric authentication such as fingerprint or face recognition.
UPI transactions have gained popularity in India due to their convenience and ease of use. They have also played a key role in the government's push towards a cashless economy.
upi transaction limit per day
The UPI transaction limit per day varies from bank to bank and depends on the individual customer's transaction history and profile. However, the NPCI (National Payments Corporation of India) has set a maximum limit of Rs. 1 lakh per transaction and a maximum limit of Rs. 2 lakh per day per bank account.
Many banks have set their own daily transaction limits for UPI transactions, which are typically lower than the maximum limit set by the NPCI. These limits can vary from Rs. 1 lakh to Rs. 10 lakh per day, depending on the bank and the customer's transaction history. Banks may also set limits on the number of transactions that can be carried out in a day or a week.
It's important to note that these limits are in place to ensure the safety and security of UPI transactions and to prevent fraudulent activities. If you need to carry out a transaction that exceeds the daily limit, you can contact your bank and request them to increase the limit temporarily.
how to report fraud upi transaction
If you suspect that a fraudulent UPI transaction has taken place from your bank account, you should report it to your bank immediately. Here are the steps you can take to report a fraud UPI transaction:
Contact your bank: Call your bank's customer care or visit the bank branch and report the fraudulent transaction. Provide the bank with all the relevant details such as the date and time of the transaction, the amount involved, and the transaction reference number.
File a police complaint: If the amount involved in the fraudulent transaction is substantial, you should file a police complaint at the nearest police station. Provide the police with all the relevant details and a copy of the transaction reference number.
Report the transaction to NPCI: You can report the fraudulent transaction to the National Payments Corporation of India (NPCI), which is the governing body that oversees UPI transactions. You can contact them at their customer care number or email them at upi[dot]upi[at]npci[dot]org[dot]in.
Change your UPI PIN: If you suspect that your UPI PIN has been compromised, change your UPI PIN immediately. You can do this through your UPI-enabled mobile banking app or by contacting your bank.
Reporting a fraudulent UPI transaction as soon as possible can help you to minimize the losses and prevent further unauthorized transactions.
