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

NPCI Press Release - Clarification on the 'Jumped Deposit' Scam : Addressing Technical Misconceptions

13-Jan-2025 | NA

NPCI has issued a press release providing clarifications on the 'Jumped Deposit' Scam. By virtue of this press release, following clarifications are issued by NPCI in regard to the same - 1. Simply opening a UPI or bank application does not automatically approve a transaction. For a transaction to occur, the user must navigate to the payment request and explicitly click on the ?pay? option to authorise it with UPI PIN. Without this step, the payment will not get processed. 2. No external party can directly request or withdraw funds from the user?s account. UPI is a device-based payment system, meaning the payment account is securely linked to the user?s registered number and their specific mobile device. Only the user can initiate transactions or withdrawals, ensuring that others cannot access their funds. 3. Entering the PIN is required even for balance enquiry transactions, and it does not automatically authorise any withdrawal or payment requests which is treated as a separate transaction.

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Recent Posts in Corporate Laws

Corporate Laws

CDSL issues communique regarding United Nations Security Council (UNSC) Committee with respect to removal of three entries

29-Oct-2026 | CDSL/PMLA/DP/POLCY/2026/761

CDSL has issued communique regarding United Nations Security Council (UNSC) Committee with respect to removal of three entries Through this

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Corporate Laws

BSE issues circular regarding Implementation of Section 51A of UAPA, 1967: Updates to UNSC’s 1267/ 1989 ISIL (Da'esh) & Al-Qaida Sanctions List: Removal of 03 Entries and Amendment of 03 Entries

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BSE has issued circular regarding Implementation of Section 51A of UAPA, 1967: Updates to UNSC’s 1267/ 1989 ISIL (Da'esh) & Al-Qaida

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Corporate Laws

SEBI issues press release regarding Implementation of Section 51A of UAPA, 1967: Updates to UNSC’s 1267/ 1989 ISIL (Da'esh) & Al-Qaida Sanctions List: Removal of 03 Entries and Amendment of 03 Entries

28-Oct-2026 | Press Release

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Corporate Laws

BSE issues circular regarding Release of “National Strategy for Financial Inclusion (NSFI) 2025–30” by RBI

28-Oct-2026 | 20261028-20

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Recent Posts

Legal

Rajasthan Amends Legal Metrology Rules to Mandate High-Accuracy Weighing Instruments for Gold, Silver and Precious Metals

29-Oct-2026 | G.S.R.77

The Government of Rajasthan has amended the Rajasthan Legal Metrology (Enforcement) Rules, 2011, by inserting Rule 9(3A). The amendment mand

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Legal

Punjab Government Extends Exemption for Existing Industries in Non-Conforming Zones of Notified Master Plans

28-Oct-2026 | SEE(HQ-2)/F.No. 203/2026 24056-74

The Punjab Government has exempted existing industries operating in non-conforming zones of 24 notified Master Plans across the state from t

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Labour Laws

Tripura Government Fixes Minimum Daily Base Wage Rate at ₹450

29-Oct-2026 | F.22(80)-LAB/ENF/CoW/2025/Part-I/6608-10

The Government of Tripura, Labour Department, has fixed the minimum daily base wage rate at ₹450, effective from 1 April 2027. The rat

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Corporate Laws

CDSL issues communique regarding United Nations Security Council (UNSC) Committee with respect to removal of three entries

29-Oct-2026 | CDSL/PMLA/DP/POLCY/2026/761

CDSL has issued communique regarding United Nations Security Council (UNSC) Committee with respect to removal of three entries Through this

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