If you make UPI payments through apps like Google Pay, PhonePe, Paytm, then this news is very important for you. New rules have come into effect from April 1, i.e. today, under which the National Payments Corporation of India (NPCI) has directed to remove all mobile numbers from bank accounts that have been inactive for a long time.
This move by NPCI is aimed at curbing cyber fraud and scams, as sometimes inactive mobile numbers are reissued by telecom companies, increasing the chances of fraudulent transactions.
If you also have an old or inactive mobile number linked to your bank account, update it as soon as possible. Otherwise, you may face issues while making UPI payments, such as transaction failure or money being transferred to the wrong account.
In view of the rapidly increasing cases of cyber fraud and online scams, NPCI has issued new guidelines. It says that such mobile numbers, which are not being used for a long time or are completely closed, need to be removed from the banking and UPI system. Inactive numbers are also causing technical problems that can affect UPI transactions.
Moreover, if telecom companies re-issue these numbers to another user, they can be used by cyber criminals for fraud. For this reason, NPCI has directed banks and payment apps to remove these numbers from the system.
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