Do you regularly use UPI for mobile recharges and for bill payments? If so, then you should be aware of these updated guidelines by the Reserve Bank of India (RBI), which might affect your daily transactions. To address potential risks associated with online payments, the RBI has recently introduced specific guidelines that will be implemented from 1st April 2025.
So, if you use a mobile recharge UPI bill payment service or any specific platform, here’s everything you should know for smoother and safer transactions.
Key Updates and Guidelines
The RBI has recently introduced some of the key guidelines, aiming to enhance the security and convenience of the users and here is a brief overview:
- New Mobile Number Verification
- UPI apps and banks must obtain clear consent from users before assigning user IDs, aiming to enhance transaction accuracy and security.
- UPI apps and banks will be providing monthly reports to NPCI (National Payments Corporation of India), detailing how they manage UPI IDs.
- A Mobile Number Revocation List/Digital Intelligence Platform will be used by banks and PSPs (Public Service Providers) to update databases on a weekly basis to avoid errors caused by inactive or outdated mobile numbers.
This step is necessary to ensure the mobile recharge UPI bill payment remains safe and secure.
- UPI Transaction Limit
- As per the guidelines of NPCI, the general daily UPI transaction limit will be ₹1 lakh.
- A higher limit of ₹2 lakhs will be applied for capital markets, insurance, collections and foreign inward remittances and a limit of ₹5 lakh for payments of tax, educational institutes, hospital, IPO and other payments which come under the RBI Retail Direct Schemes.
- A per-transaction limit of ₹10,000 is set for UPI 123Pay.
- For UPI Lite, the per-transaction limit has been increased from ₹500 to ₹1,000 and the wallet limit from ₹2,000 to ₹5,000.
If you are using a mobile recharge new app or a UPI bill payment app, then these limitations will be applicable to you.
- PPIs and UPI
- Users can conveniently link their Prepaid Payment Instruments (PPIs) digital wallet with their UPI ID and make payments without having to enter their bank account details.
- The change in digital wallets will increase accessibility, especially for those who are dependent on digital wallets for transactions.
- Mobile Recharges
- Card transactions to recharge mobile phones will include PINs or OTPs.
- A special numbering series will be used for different communications, such as ‘140xxx’ for promotions and ‘1600xxx’ for transactional and service-related communications.
- Users are advised to avoid sharing their UPI PINs, OTPs, CVVs or any other critical information with anyone.
Why These Guidelines Matter?
Here are some of the reasons why these updates matter:
- The verification rules offer an extra layer of security and protect users from fraudulent activities.
- Increased limits will now improve accessibility and allow smooth payments of bills, EMIs and recharges.
- Users can conveniently use UPI and mobile recharge new app digital wallets without worrying about entering bank details.
Key Considerations for Users
Users must take care of the following points:
- Stay updated on regular guidelines and updates from the RBI.
- Make sure to link the correct mobile number that is registered with your bank accounts.
- Provide consent to mobile recharge UPI bill payment apps for numeric UPI IDs.
- Learn about the UPI payment limits and use them wisely.
Final Thoughts
The RBI will continue to enhance security, increase efficiency in digital payments, and push users towards a cashless economy. Users must understand and stay updated on the latest guidelines and must not share critical information. Use a trusted mobile recharge UPI bill payment app like Bajaj Finserv, which is a secure and one-stop app for all UPI transactions and mobile phone recharges.
For a seamless experience, ensure that your app is updated, and stay informed of updated guidelines to enjoy hassle-free digital transactions.