The National Payments Corporation of India (NPCI) will introduce new rules for Unified Payments Interface (UPI) settlements from November 3, aiming to make the process faster and more efficient for both banks and users.

At present, UPI operates 10 settlement cycles each day, with both authorised transactions — those approved by users — and dispute-related entries such as refunds and reversals processed together in every cycle. With UPI handling billions of payments every month, this combined processing had begun slowing down settlement finalisation. NPCI has now decided to ring-fence the two categories. Advertisement

What’s changing

Under the revised framework, the 10 daily settlement cycles running between 9 am and 9 pm, in two-hour intervals, will be reserved exclusively for authoris

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