Worried about wrong UPI transfers? NPCI’s new rule has you covered

Digital payments via UPI are now commonplace, but accidental transfers to wrong accounts pose a problem. NPCI's new rule displays account holder's registered name during UPI transactions, ensuring funds reach correct recipient starting June 30, 2025.

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UPI Transaction

Cash usage has decreased significantly. People now use digital payments for every transaction. Millions of UPI transactions occur daily in India. UPI transfers money instantly. However, people sometimes transfer money to the wrong accounts, causing problems. NPCI has introduced a rule to prevent this.

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Google Pay

NPCI has introduced a new rule to prevent your money from going to the wrong hands. For UPI P2P and P2PM transactions, the account holder's name registered in the CBS will be displayed, preventing confusion and ensuring money goes to the correct account.

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UPI Transaction

When making a payment, you'll see the name registered with the bank account, even if it's saved differently on your phone. This prevents confusion and misdirected funds. This rule will be effective for all UPI apps from June 30, 2025.