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Corporate Laws Central Ministry of Finance Reserve Bank of India Act, 1934

NPCI - Addendum to OC-101: Strengthening beneficiary name verification and display during UPI transactions

24-Apr-2025 | NPCI/UPI/(OC No-101A/2025-26

NPCI has issued the circular regarding Addendum to OC-101: Strengthening beneficiary name verification and display during UPI transaction.

NPCI has issued the circular NPCIVUPI/OC No. 101/2020-21 to mandate the ultimate beneficiary is to be showcased in UPI transaction.

By virtue of this circular the following changes are to be implemented by the UPI apps with the view to instill confidence in customers that they are sending money to the correct beneficiary and avoid potential risk:
1. Display of only Ultimate Beneficiary Name (CBS name) for P2P and P2PM transactions
2. Restriction on modification of beneficiary name by the user for transaction purposes in the the app interface.

The UPI ecosystem members are required to be adhere with the above mentioned changes by 30 June 2025, post which it shall be treated as non-compliance.

Kindly refer to the attached document for more information.

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