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Upi Full Form in English

What is UPI and how does it work?

Do you know what is UPI and how does it work? For the past few days, we all have to face difficulties in making money transactions because the Prime Minister of our country Shri Narendra Modi has taken the stern steps against corruption and stopped notes of 500 and 1000 notes. . Obviously, the decision has to be ridiculing the sweat of the bourgeois, but the common man is also facing many problems. In view of these problems, the Prime Minister has given us another suggestion that now all of us should encourage cashless economy. Cashless economy means that we should now pay online, except for money transactions.

Increasing cashless economy is not so easy but by trying, every hard thing gets easier. We all know the importance of internet but still there are many places in our country, where so far people do not have this facility. And there are many people who are aware of the internet but do not know how to use them well, such as the elderly people. So in such a way, the youth like us have a duty to teach them how to use the internet which can be of great help in their daily lives.

Now the thing is that if we want to pay off the transaction of money, then how can we do that, there are so many mobile applications through which we can do with the help of online money transfer mobile such as Paytm, Mobikwick, Freecharge etc. . Many of you must have used one of these to do mobile banking. Apart from these apps, there is another way through which we can easily do mobile banking, anywhere from anywhere to 24 hours every day whether or not you are comfortable, you can easily manage money and its name is UPI . Today, we will learn from this article about what is UPI and how it works.

What is Upi Full Form - What is UPI in English

The full name of the UPI is Unified Payments Interface, this is one of the ways with which you can send money from your bank account at any time to your friend's account or in the account of relatives, and if you have to pay someone Even if you have to do it, you will easily be able to give money with the help of UPI. You can do any kind of payment with your help, such as if you have bought some stuff online, you can pay by UPI or you have gone shopping in the market, you can still use UPI. Taxi fares, movie ticket money, airline ticket money, mobile recharge and DTH recharge. You can do all these types of payment via UPI. And they will transfer money in your bank account to the front of the bank account immediately and immediately in front of you.

The initiatives to start UPI are from NPCI. The full name of NPCI is National Payments Corporation of India, which is the institution which currently manages ATMs of all banks in India and interbank transactions between them, as if you have Axis bank's ATM card You can withdraw your money by visiting the ICICI Bank ATM. NPCI keeps the attention of all the transactions between these banks. In the same way, with the help of UPI, you can send money from one of your bank accounts to the bank account of the opposite person.

How to use UPI?

To use UPI, you first have to install its apps in your Android phone. There are many banks applications that support UPI such as Andhra Bank, Bank of Maharashtra, Axis Bank, ICICI bank etc. You need to find and install the bank's UPI app by visiting the Google Play store on your phone and entering your bank account. Once you have installed it is to sign in and then create your account by giving details of your bank there. After that you will get a virtual ID, you can generate your ID on that id, your number may be the number of your base card or your The phone number may be or the id can be an address like an email id (like [email protected]) After just doing so, your work is completed at the same time. Once your account is created in UPI, you can easily send money and take money.

How does UPI work?

UPI is based on IMPS, which is based on the Immediate Payment Service system, which we use while using other mobile banking services on mobile. These services can be used every day, even on holidays every day. UPI also works on this system but the question arises here that if UPI and all other types of net banking applications work based on the same system then what is the difference between them? UPI is different from all those apps, how? I want to tell you this by example.

Suppose that your friend or relative is in dire need of money and you have to send them money as soon as possible, what do you do in the earlier apps, you open the apps and then login to the person you want to send money to It has to be added. When adding, you have to enter a lot of details and for that you should know all the banking details as if you should know the person's account number, then its IFSC code, the name of the branch, etc. should be filled in the same type of details It takes time.

But UPI does not require all these things, you just have to enter the UPI ID of the person about which I told you above and how much money to send, you can easily send money. No hassle for putting any bank details, nor does it require more time, and the front does not even need to be told to tell which bank its account is or whose name is registered in the account. With the help of UPI, we can send money quickly and safely without all knowing it.

There is also a limit for sending money to UPI and it is limit per transaction 1 lakh and fees are charged per transaction 50 paise, this is a very small amount i.e. you will not have to spend even more money to send money and You will also be able to take advantage of instant money transfers.

List of UPI Enabled Banks

State Bank of India
Kotak Mahindra Bank
ICICI Bank
HDFC
Andhra Bank
Axis Bank
Bank of Maharashtra
Canara Bank
Catholic Syrian Bank
DCB
Federal Bank
Karnataka Bank KBL
Punjab National Bank
South Indian Bank
United Bank of India
UCO Bank
Union Bank of India
Vijaya Bank
OBC
TJSB
IDBI Bank
RBL Bank
Yes Bank
IDFC
Standard Chartered Bank
Allahabad Bank
HSBC
Bank of Baroda
IndusInd

FAQs related to UPI (Unified Payments Interface)

1. What is UPI?

We also know UPI, as the name of Unified Payments Interface, and this is the process of a real-time fund transfer created by NPCI. This system works based on the IMPS interface.

2. Which UPA app is right to download?

There are so many UPI apps available in the Google Play Store so the user can choose any app according to their mind.

3. Is it necessary that user to download UPI app of his own bank?

No . Users can download any UPI app. With this, you know that it may be your bank or any other bank, it will not make any difference.

4. What is UPI PIN?

This is a pin that is set during registration process. It is used to authorize all UPI transactions.

5. If a user gets debit money during the UPI transaction, then what should he do with his bank account?

In such times, money is often brought to the user's account within 1 hour. And if this does not happen then you should contact customer care at this time.

6. Many times the money is cut from the account but still the transaction is showing the show? What should we do?

In such cases, transactions are processed in cases often. This represents the pending status because the payee / beneficiary's backend can be a server issue. If this issue is not resolved within 48 hours, then you should contact customer care as well.

7. Is it possible to link different bank account with the help of more than one UPI app on the same smartphone?

of course. You can link to one or more UPIs, or link to another bank account number.

8. What are the mobile platforms where the UPI can be used?

We can use UPI in the platforms of Android and iOS.

9. How much amount can you transfer through UPI?

You can transfer money up to maximum Rs.1 lakh per transaction.

10. If I ever have to register a complaint, how can I do this?

This complaint can only be done in the UPI app, there is an option in the app.

11. What will be the result if someone has entered the wrong UPI PIN?

If a user has ever entered the wrong PIN then the transaction running will fail.

12. If a user's bank name is not detected by the UPI app then what should be done in such a way?

The first step should be to check that the user's mobile number should be linked to the same bank account. If it does not happen then the app will never recognize your bank, and the linking process will never be completed.

13. Can other merchants be paid by UPI?

Yes yes absolutely You can pay Payments in e-commerce sites through online mode, if there UPI option is available there.

14. How can you pay in UPI online?

First you have to go to merchant site, then you have to select the UPI option, then enter the VPA and then UPI PIN.

15. Can a user make money in transfer bank holidays?

The answer is absolutely possible.

I hope you like these articles and you have also come to understand what is the UPI and how it works. Note: Any problems of money due to captive can be overcome with the help of UPI. If you have not used it yet, please do it once and see. If there are any questions related to this article then you can comment down and ask, I will be happy to help you.

Friday, July 19, 2019