NPCI: UPI Apps to Show Only Verified Account Holder Names
Why in the news
The NPCI directed all UPI apps to show only the bank-verified name from June 30, 2025.
Key facts
- Custom names chosen by users will not be allowed.
- Binding on all authorised UPI apps, such as PhonePe, Google Pay, Paytm and BHIM.
- Reason: scammers used fake aliases to trick payers; the rule builds trust and prevents wrong or fraudulent payments.
Significance
- Improves transparency and security for millions of digital payment users in India.
Exam angle
- Issuer: NPCI.
- Effective: June 30, 2025.