National Payments Corporation of India is implementing the new rule of UPI payment from December 31. This rule will be implemented in the entire country from 12 midnight. From January 1, any inactive UPI ID which is not active more than one year old will be closed. No transaction will be possible in this.
The corporation has taken this step so that unknowing payments can be avoided. This will protect customers from fraud. Many customers change their number without getting it changed in the bank. Due to this, fraudsters withdraw money from their accounts also.
It is noteworthy that as per the rules of Telecom Regulatory Authority of India, telecom companies have the right to allot inactive mobile numbers to new users after a period of 90 days. In such a situation, if the number remains linked to the bank, then the person taking the new number can transfer money.