New UPI Rules: A significant change is coming to UPI transactions in India. Starting from today that is from April 1, 2025, new rules will be implemented to make UPI transactions more secure. The National Payments Corporation of India (NPCI) has introduced these changes to enhance the security of transactions done through UPI platforms like PhonePe, Google Pay and also other UPI platforms.

One of the major updates is the deactivation of inactive mobile numbers linked to UPI. If you have not used your mobile number for UPI transactions in a while you will need to update your details with your bank. The update must be done before April 1, 2025, to avoid any disruptions in your UPI services. Banks and third-party UPI providers like PhonePe and Google Pay will deactivate these inactive numbers to prevent security issues.

Apart from this, changes are also coming to the minimum balance requirements for certain banks. Banks such as the State Bank of India (SBI), Punjab National Bank (PNB), and Canara Bank will impose new minimum balance rules starting from April 1. Customers who fail to maintain the minimum balance may be charged penalties.

Moreover, new income tax rules will also be introduced on April 1, 2025. The new tax system will not impose taxes on incomes up to ₹12 lakh, which is a significant change for many taxpayers. Additionally, a unified pension scheme, which was announced in August 2024, will come into effect. This scheme will benefit around 23 lakh central government pensioners.

New UPI Rules:

These changes aim to improve the security of digital payments and ensure better financial management for individuals and institutions. It is also important to update all your details with your respective bank and stay informed about these new rules. It can avoid any inconvenience caused in this vital process.

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