UPI REFUND RULES
Lost money to a UPI scam? The first 3 days could decide how much you can recover
In the blink of an eye, UPI scams can wipe out your bank savings, but there's hope for victims. The Reserve Bank of India stands ready to safeguard you against unauthorized transactions. Discover essential actions to take the moment fraud strikes, understand how liability is assessed, and find out what steps to take if your bank turns down your claim.
How to book Tatkal train tickets faster on IRCTC: Follow these easy steps, check booking timings and tips to get a confirmed seat
Tatkal ticket booking is an ideal choice for immediate train travel via the IRCTC platform. Passengers can secure their seats a day in advance, with distinct timings for AC and Non-AC classes. To ensure a smooth process, verifying accounts and entering passenger details ahead of time is advised. Additionally, adherence to Aadhaar authentication during booking is crucial. Refunds on confirmed Tatkal tickets are limited to certain conditions.
Digital payments firms race to fortify defences as cyberattacks intensify
At Bengaluru-based Cashfree, attempted attacks have been taking place repeatedly over the past three weeks, occurring at least 10 times as frequently as a year ago, chief technology officer Ramkumar Venkatesan told ET. Attackers are increasingly combining multiple vulnerabilities to attack systems, he said.
Diwali Sale 2026: Buying fridge, AC, or washing machine online? Here’s how to get the best deal on big appliances and save more
Online sales of big appliances are growing at 25% as the festive sales begin. The Kagan 2026 Asia-Pacific Consumer Insights survey by S&P Global Market Intelligence, conducted in June 2026 among 1,000 internet adults each in China, South Korea and India, shows that most Indian respondents still primarily make retail purchases from stores.
Fee on UPI P2M payments: How this “small” 0.4% fee can take a bigger bite out of your money
Starting from October 15, 2026, a new 0.4% transaction fee will be applied to UPI payments exceeding Rs 2,000, while lower amounts and peer-to-peer transfers will still be free. As some merchants may choose to adjust prices accordingly, customers should stay vigilant, checking for any surcharges at checkout to ensure they understand all costs involved. Transparency and quality of service will be vital as these changes are implemented.
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Festive season likely to create 2-2.5 lakh jobs in H2 2026: Report
Mumbai anticipates creating 2 to 2.5 lakh seasonal and gig jobs by late 2026. Festive hiring is projected to increase by fifteen to twenty percent during this period. Businesses in e-commerce and retail are preparing for heightened consumer demand. Tier II and III cities will contribute forty-five percent of total festive hiring needs. This expansion offers new employment opportunities beyond traditional urban talent pools.
Man loses Rs 9,800 after scratching a fake UPI cashback card; consumer commission orders Federal Bank to pay 17,800; know why
A man lost Rs 9,854 after falling for a fake UPI cashback scratch card scam. Federal Bank initially refunded the amount as required under RBI guidelines, then quietly reversed the credit weeks later, blaming the customer. A Kerala consumer commission has now ordered the bank to restore the full amount along with Rs 5,000 in compensation and Rs 3,000 in costs, ruling the bank failed to prove any negligence on the customer's part.
Myntra failed to deliver order, then cancelled without explanation: Customer lost chance to buy 5-gram gold at lower price; consumer court orders Rs 60,000 payout
Myntra has been ordered to pay Rs 50,000 in compensation and Rs 10,000 in litigation costs after a Kurnool consumer court found it failed to deliver a 5-gram gold coin ordered in October 2025, refused cancellation for 41 days citing its own policy, and then cancelled the order unilaterally without explanation. The court rejected Myntra's claim that it bore no liability as an intermediary, ruling that collecting payment and platform fees made it directly responsible.
Don't put a toll on UPI: Why merchant discount rate isn't the answer
A proposal to introduce a merchant discount rate (MDR) on UPI transactions above ₹2,000 for businesses with annual turnover of ₹1-1.5 crore aims to address the cost of maintaining the payments ecosystem. While banks and payment providers need a sustainable revenue model, the article argues that reintroducing MDR would undermine UPI's biggest strength—a simple, universal, zero-cost payment system.
Rs 299 auto-debit you never signed up for? How that free 7-day trial can lead to UPI mandate for recurring debit - how to track these and revoke if needed
On the Google Play community page, a user recently shared a similar experience. They said, “I took a Rs 1 trial on Moj app, but Rs 699 was auto-debited without clear consent. I have not used the subscription service at all. Please cancel my subscription and process a full refund immediately.”
RBI overhauls prepaid cards & wallets rules: Rs 2 lakh monthly debit limit, usage, restrictions, new safeguard and more
The RBI has revised Prepaid Payment Instrument (PPI) rules, introducing new monthly debit limits for full-KYC PPIs at Rs 2,00,000, with a Rs 25,000 sublimit for person-to-person transfers. These changes, part of the Master Direction on PPIs, aim to enhance security and user protection across various PPI categories.
RBI proposes measures to strengthen Prepaid Payment Instruments framework
The Reserve Bank of India is introducing new rules for Prepaid Payment Instruments. These changes aim to boost the long-term growth of these payment tools. Enhanced transaction security and clearer guidelines on refunds and customer grievances are key proposals. The RBI has issued a draft for public comment, with a deadline of May 22, 2026.
Hack of the Day: How to claim compensation for failed UPI payments?
Hack of the day: Learn how to claim a refund and possible compensation for failed UPI payments in India. If a UPI transaction fails but money is debited, banks must reverse it within one business day (T+1). If delayed, you can dispute through your app and escalate to RBI CMS or Banking Ombudsman for relief.
Industry welcomes six-month window to refund real-money game deposits
MeitY's draft online gaming rules propose a 180-day transition period for companies and payment partners to refund users for real-money games before their ban. This window eases potential criminal liability for firms, though legal experts caution about users missing the deadline. The government aims for zero tolerance after this practical compliance period.
Make UPI transactions faster soon: Thanks to this move by NPCI these transactions to be processed 50% faster
Starting June 16, 2025, UPI transactions are set to become faster, with completion times reduced to as low as 15 seconds. NPCI's mandate aims to cut response times for most financial activities, including status checks and reversals, down to 10 seconds. These changes promise quicker transaction confirmations and a more reliable experience for customers. Read on to know how this will impact you while you undertake UPI transactions going ahead.
Disputed UPI transactions: Expect a faster resolution from February 15, as NPCI revises this rule
UPI transactions: Ever had to put a chargeback request for disputed Unified Payment Interface (UPI) transactions? You would be happy to note that now the chargeback acceptance and rejection process is automated. This will help banks in the back end to process the settlement process faster. Read below to know how this new revised UPI chargeback rules help.
UPI-enabled RuPay credit card: Get credit on UPI through FD, cashback offers on UPI transactions
IDFC FIRST Bank launched the FIRST EA₹N RuPay Credit Card, backed by a fixed deposit. It offers UPI credit access, reward points, cashbacks, competitive interest rates on FDs, and comprehensive protection features.
Court orders post office to pay 2,999,900% compensation to Chennai consumer for rounding off 50 paise excess amount
A Chennai consumer lawsuit led to a post office being fined Rs 15,000 for overcharging due to a software glitch. The claimant, denied 50 paise change for a Rs 29.50 transaction, was awarded 2999900% return by the disputes redressal commission. The post office's faulty rounding off practice was deemed an unfair trade practice.
Paytm QR code, Paytm wallet, autopay, FASTag: What is allowed, what isn't after RBI deadline of March 15?
Paytm customers are worried about whether they can use the Paytm wallet or Paytm QR code after the deadline of the Reserve Bank of India (RBI) ends. A large number of customers and businesses rely on various services of Paytm for their day-to-day needs. What services will be allowed for Paytm customers after RBI deadline of March 15? What Paytm services will be stopped after the deadline. ET Wealth Online jots down latest rules and restrictions on Paytm customers. All you need to know.
Sebi panel suggests abolishing security deposit requirement in public issues
An expert committee formed by Sebi on Friday suggested to abolish the requirement of a mandatory security deposit with the exchanges before a public issue, a move that could make it easier for companies to access the primary market.
Failed WhatsApp UPI transaction? Here’s how to get your money back
There are chances that your UPI payment may get stuck or payment won’t be received by the recipient even after debiting from your account.
Govt notifies procedural changes in GST rules, interest to be charged for wrongful credit availment
With the amendments notified by the Central Board of Indirect Taxes and Customs (CBIC), businesses have also been allowed to make tax payments on the GSTN portal by using IMPS and UPI payment modes. Businesses with aggregate annual turnover of up to Rs 2 crore in the fiscal ended March 31, 2022, are exempt from filing annual returns for 2021-22, as per the amended rules.
GST council clears draft for new GSTR-3B form
This would also help curb the menace of fake billing, whereby sellers would show higher sales in GSTR-1 to enable buyers to claim input tax credit (ITC), but report suppressed sales in GSTR-3B to lower GST liability.
Covid 2.0: Unboxing key GST developments during the pandemic
Currently, the GST law seems to be evolving more through notifications and circulars and is still far from settling down.
PhonePe, Google Pay adopt different modes to deal with NPCI UPI limit
Google Pay is learnt to be reassessing its customer engagement initiatives—such as cashbacks—to bring its UPI market share to below 30%, PhonePe said it will not stop aggressive marketing for at least a year.
UPI needs budgetary support of Rs 2,500 crore to expand: IIT Bombay report
The government can nudge e-commerce merchants and encourage them to offer a discount for payments made through BHIM UPI, argues Ashish Das, the author of the report.
No ATM PIN for online transactions and other measures to make digital payments safe
The guidelines state that payment aggregators, such as Razorpay, CC Avenue etc., will now have to stop giving the option of using ATM PIN to users to complete online transactions. Here is a closer look at the guidelines and how it can keep your digital life safer.
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