'Bhool Chuk Maaf': Money Sent By Mistake Will Be Refunded Right Away, NPCI Introduced New UPI Transaction Rules
UPI Transaction Rule Change: Customers frequently become anxious when a UPI transaction goes wrong or money is transferred to the incorrect location. They must wait a long time to get their money back. Now, however, this won't occur. The Unified Payments Interface chargeback system has undergone significant modification by the National Payments of Corporation. There have also been new guidelines released. As a result, this procedure will be easier and better organized than before. In terms of customer complaints, the system will also be more accountable.
All banks are now permitted to submit "Good Faith Chargebacks" by NPCI. In connection with this, a circular was released in June 2025. With effect from today, July 15, the new rule pertains to a customer's sincere and honest complaint. It will help users receive their refunds faster.
UPI Transaction: New Rules
A new system called "Remitting Banking Raising Good Faith Negative Chargeback" has been put into place. Now, the bank can initiate a chargeback on its own without NPCI's approval if it believes the customer's complaint is valid. This will guarantee that the customer's request won't be turned down repeatedly. Also, complaints will be resolved more quickly. Moreover, dispute resolution will get better. Customer issues will be addressed right away. Digital payments will gain more credibility as well.
UPI Transaction: Old Rules
The chargeback was rejected with the reason "negative chargeback rate" if a bank reported an issue with an account or UPI ID on multiple occasions. The bank had to submit a manual whitelist request to NPCI if they believed the customer's complaint was valid. It took a long time. Customers' refunds were delayed as a result.
This regulation covers complaints about things like unsuccessful transactions, incorrect transactions, and merchant disputes. It will be deemed a rule violation if RGNB is used to avoid punishment.
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