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Corporate Laws Central Ministry of Finance Payment and Settlement Systems Act, 2007

NPCI issues Introduction of Multi-Signatory Accounts on UPI

07-Oct-2025 | NPCI/UPI/OC-224/2025-26

NPCI has issued Introduction of Multi-Signatory Accounts on UPI effective from 07th October 2025. Key Highlights: 1. NPCI is expanding UPI access to include multi-signatory accounts such as joint accounts, SME or business accounts, partnerships, trusts, and societies that require multiple approvals for payments. 2. All transactions under this feature must use the purpose code "AV", to be populated by the Issuer Bank and Payer PSP and accepted by Payee PSPs and Beneficiary Banks. Existing UPI limits will apply to these accounts, except for business-initiated transactions. Transactions in restricted categories under law or regulations will not be permitted. 3. The Online Dispute Resolution (ODR) system will be available for such transactions, and reconciliation will follow existing UPI processes with new reporting entries for the "AV" code. 4. Issuer Banks must maintain an authorization matrix defining signatory roles, ensure approval from all required signatories before debiting accounts, and allow only accounts where each signatory has a unique registered mobile number. Each signatory must be properly registered with the bank and use two-factor authentication for approvals. 5. UPI apps must support adding and managing multi-signatory accounts, show clear signatory details and transaction history, and ensure no inward payments to UPI IDs linked with such accounts. For more information, please refer to the attached document.

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Corporate Laws

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Industry Specific - Food Laws

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