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Transfer of money to wrong UPI number: There might be a situation when a particular mobile number which was linked with unified payment interface (UPI) got deactivated and got allocated to another individual who in turn has linked the said mobile number with his bank account. This can result in unintentional transfer of money to another individual.
The process of deactivation will be done by the third-party application providers and PSP which will identify UPI IDs and associated UPI numbers and phone numbers of customers who have not carried out any transaction for one year from their UPI ID.
The new circular issued by the NPCI asks the members of UPI (i.e., Third Party Service Providers and banks) to deactivate all the inactive UPI IDs and UPI numbers for all the financial transactions. The active UPI IDs and UPI numbers are those which have been active/used for one year for payments.
A businessman named Babloo Yadav was kidnapped by a friend in Delhi while trying to buy apples. He was held captive and a ransom of approximately Rs 3 lakh was demanded. Yadav managed to secure his release after transferring Rs 2.7 lakh through five UPI IDs. Three individuals have been apprehended in connection with the incident.