NPCI
UPI AutoPay facility for recurring payment has been launched by the National Payment Corporation of India (NPCI). The new facility will enable recurring e-mandate with the help of any Unified Payments Interface (UPI) application for recurring payments like mobile bills, electricity bills, EMI payments etc upto Rs. 2000. For the amount exceeding Rs. 2000, the customer has to execute every mandate with UPI PIN. UPI users will be able to create e-mandate through UPI ID, QR scan or Intent.
Customers will also be able to create, approve, modify, pause as well as revoke auto debit mandate from the ‘Mandate’ section of the UPI-enabled application. For their reference and records, customers would also be having the option of viewing their past mandates. Customer can set the mandate for one-time, daily, weekly, fortnightly, monthly, bi-monthly, quarterly, half yearly and yearly.
Important takeaways for all competitive exams:
India is often called the Land of Festivals because it celebrates countless festivals throughout the…
Simone Tata, a transformative figure in India’s business landscape and the step-mother of Ratan Tata,…
IndiGo Airlines is one of India’s most popular and trusted airlines. It is known for…
Many countries have different names in different languages. One such country is Germany, which is…
Northeast India is a region full of beautiful landscapes, green forests and rich culture. A…
Jharkhand, a state in eastern India, has a well-developed railway network that connects it to…