Days after Nana Patekar's death, old friend and actor Susmita Mukherjee remembered him with a soul-stirring tribute. Sharing pictures from Deepti Naval's birthday party on 3rd of February, 1991, Sushmita mused over the lost time, innocence and moments that became intrinsically attached with persons who were part of the memory. "Just the four of us. Wine, music, laughter, and even a piano. A little world of our own, untouched by the complexities of life that lay ahead. "And then, one of us slipped away. We mourned not just the person we had lost, but also the absence of what once was - the moments, the togetherness, the innocence, and a time we could never return to," wrote Susmita. Susmita recalled the bygone time when a dear friend of 38 years sent her a bunch of photographs. "The memories were hazy, the details blurred by time. But the moment I looked at those photographs, something magical happened. They awakened a part of my brain where memor...
The National Payments Corporation of India (NPCI) is set to implement a set of changes to the Unified Payments Interface (UPI) from August 1, 2025. The changes, including balance check and transaction status, are aimed at making the interface stable and efficient. In a circular dated April 26, 2025, NPCI stated that they are working to reduce the response time of UPI transactions to improve the performance. It added that the adjustments will benefit remitter banks, beneficiary banks and Payment Service Providers (PSPs), such as PhonePe, Google Pay and Paytm.
Later on May 21, 2025, NPCI noted: "PSP banks and/or acquiring banks shall ensure all the API requests (in terms of velocity and TPS - transactions per second limitations) sent to UPI are monitored and moderated in terms of appropriate usage (customer-initiated and PSP system-initiated)."
Also Read | How India's UPI Is Revolutionising Global Digital Payments, Explained Simply
Here are the key changes:
Daily Balance Check Limit: The users can check their account balance only 50 times a day per UPI app. If they use multiple apps, the limit applies to each app separately.
Transaction Status Check Limit: They can check the status of a pending transaction only three times, with a minimum gap of 90 seconds between each check.
AutoPay Timings: AutoPay transactions will be processed in specific time slots: Before 10 AM, Between 1 PM and 5 PM and After 9:30 PM.
Linked Bank Account View Limit: The users can view their linked bank accounts only 25 times a day.
Payment Reversal Cap: They can raise a maximum of 10 payment reversal requests in 30 days, with a cap of 5 per sender.
Beneficiary Name Display: The recipient's registered bank name will be visible before confirming payment, reducing errors and fraud.
Stricter Rules for Banks and UPI Apps: NPCI will monitor API usage, and non-compliant banks and apps may face penalties or restricted access.
"Members are requested to take note of this compliance requirement and communicate it to relevant stakeholders and their respective partners for implementation by 31st July 2025," the circular added.
Also Read | PayPal Partners With NPCI, Others to Build Cross-Border Payments Platform Focused on Interoperability
IMF praises India's UPI
Recently, the International Monetary Fund (IMF) praised India, saying that the nation makes faster payments than any other country with the quick growth of UPI. The usage of other instruments, including debit and credit cards, is on the decline.
"India now makes faster payments than any other country. At the same time, proxies for cash usage have fallen," the note said.
"Since its launch in 2016, UPI has grown quickly, while some proxies for cash usage have begun to decline. UPI now processes more than 18 billion transactions per month and dominates other electronic retail payments in India," the fintech note said.
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