Do you Use BHIM UPI for Money Transfer in same account ? Then This is a bad news for you. NPCI has banned Same Bank account UPI Transaction from 1st August, This will affect for those who has looted many UPI offers from Paytm, Mobikwik, free charge etc by making a fake transaction in the same bank account. But still you can transfer money from 1 bank to another bank. Restriction is only on Same Bank Account UPI Transaction.
Why NPCI has Banned UPI Transactions to Same Bank Account?
As you know that There are many UPI Cashback offers are providing by Many wallets like Paytm, Mobikwik etc. So for availing these cashback, Users make fake transactions in the same Bank account. So, To curb fake or artificial transactions in order to get cashback, NPCI has taken a serious action and decided to halt this practice on its payments platform UPI. Continue reading