UPI Transactions: Key Changes In 2024 To Improve Online Banking & Payment Experiences

The Unified Payments Interface (UPI) rules have gone through certain key changes in the New Year 2024. The changes have been brought in to improve online banking and payment transaction experiences. National Payments Corporation of India (NPCI) have instructed payment apps to deactivate inactive UPI IDs that have not been active for more than one year, reported IANS. Reserve Bank of India (RBI) has also raised the UPI transaction limit for hospitals and educational institutions from Rs 1 lakh to Rs 5 lakh. Watch the video to know more.