New UPI changes soon? 4-hour delay for sending over Rs 2,000
November 28, 2023
The government is reportedly planning to introduce curbs on UPI transactions.
According to Indian Express, there will be a time limit for first transaction between two persons using UPI.
A four-hour window will be applicable to UPI transactions above Rs 2,000.
This means if you send an amount of over Rs 2,000, it will take about four hours to settle.
This, the government hopes, will reduce online payment frauds.
UPI payment frauds are on the rise.
If finalised, this plan could be applied to IMPS and RTGS, too.
The discussion will soon be taken by RBI and platforms such as Paytm and Google.
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