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What is UPI | Full Explain Banking, Transfer/Receive Money [Step by step]

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Where will you be able to use UPI

Hello friends, today we will talk about UPI and justify it, so friends, let’s talk, Hello friends and welcome to the World Wide Web.thegautamnews.com site today, I will tell you what is UPI PIN and what is its full form. There is UPI Vs pocketbook and with that I will also tell you who runs UPI and what is IMPS.

  Revolution of UPI  

Friends, we have been dreaming a lot for the last years, everyone wants to make India a digital India, as much as it is to do banking work, they just want to do it from their phones, wherever they want, whatever you want, sitting at home and you can cashless If you are able to develop economic, friends, all of you know that Internet Crarrage in India is fast growing and whether it is banking sector or any other IT sector is becoming increasingly digital. And you also want to sit at home with this, whenever you want, you can send any money and ask for money, let me tell you, even though crores of people in India have internet, however not all people do internet banking here U P I The sector of which is very big and very strong, if I talk to you, you can send money to anyone, wherever you want, you will be able to do instant banking and friends here you are very Minister will be able to use simple methods are now thinking that

   What Is UPI

Friends, the complete meaning of U P I is unified payment interface, this is such a system, using it is a way that you can send money from your bank account anytime anywhere like you can send it to your friends. If you have to make any kind of payment in the account of the Relative, then you will be able to do that with the help of U P I, whether you are sitting in a car or somewhere in the shop and somewhere in the mall. Or if you bring home ration, then you have to pay some bill at the grocery store, then friends, you have to pay the bill of light-weight, then you can pay the water bill. Free U P I is going to be very useful and you will be able to transfer this very instant cash, you can now send money to your front bank account and get the money right here, you must be wondering who is behind UPI, on whose side this system has come from friends, let me tell you this, it has come from an N C I T that is an initiative

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It has come from the Indian side, it means from the National Corporation Payment India, this is the same authority that manages the ATMs in India which the friends currently manage, inter-banking like I have an account with State Bank and you have ICIC If I have a bank account, I sent some money from my account to your account, then it handles all the process that is NCPI

 

Friends, Apart from this, the Reserve Bank which is here is a very big support for UPI and in this way, everyone has brought together to help the public, so friends, you must be wondering how UPI works.

   How will Work UPI

Friends, the name of the service that has been there for the last few months is the IMPS cash service so far. Suppose I have to send money from my account to your account, then I will use NEFT. Suppose if you use NEFT it means Takes time after that, I have to add benefit to my account meaning that your bank details will have to be added after that, after ten or twelve hours, the payment will depend that the bank Ng is working or not the bank is open or closed will then get your money in your account but friends who here

  IMPS 

IMPS system is very amazing system and here you can pay immediately but you believe that the U P I is doing a mission ahead of that on a very big scale, how can we do it more simply And apart from this, we can use it anywhere and we can also use it in dealing with the bank, we friends can use it for any service in a very easy way, now what happens here friends? If you want to use UPI then the application is available on play store for android. There are many banks available on the play store. Suppose if you want UPI for HDFC bank, then you install the application from play store and login and there you create an account and there you will get an ID, generate that ID and you need MPIN to produce it, after that you will be done Done Then you can send the money will be in your account and money sent to can also have their account will now wondering how and where h UPI

  Where will you be able to use UPI

Imagine friends here, I want some money, if you have an account number from me on your behalf, which branch is your IFSC code, what will be done manually, which is a very long process but In UPI, only my ID friends can be of anything, Id can be my Aadhar card number or it can be my phone number, it can be of anything Friends, I will tell you, you will be able to give me the money, I do not need to tell you that my account number is my branch, it is my IFSC code, it is in which bank it does not need to tell anything, only I will tell you the ID. And you will be able to send me the money just like we do in Paytm, just like the mobile number, now friends here, you can use UPI in different places, which can be used here. You will be sure that the money will be instantaneous. Now you are wondering what the limit of UPI is.

   Limit Of UPI Transaction

So let me tell you that you can only do ₹ 100000 transactions here and the fee which is five rupees / 1000 means that if I want you instant then I will have to give only friends ₹ 50 which is not a big amount and you are here You can send money immediately and take advantage of UPI, now we talk about how different UPI is from the pocketbook, friends, let me tell you here that you do not have to add any amount to a wallet here. The transfer which is being done is being transferred from the direct bank account and the person in front is also getting payment in his direct bank and this also means that the pocketbook is not that it will be closed. They are running because they keep withdrawing a lot of cashback offers on their behalf. It is not that if UPI is there then everybody will use UPI but it depends on you what kind of service you are If you want to use if you want to be able to send money to someone immediately, then you can use U P I

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So friends for today, I hope that you will like this post, if you like this post, then you must share it with your friends and relatives and family so that they too can know what is the use of UPI. Can do

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