Soon, you can also register for UPI or Reset UPI PIN without debit card details using Aadhaar OTP

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Abhishek012

I got banned!
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Hyderabad
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Jio
Soon, you can also register for UPI or Reset UPI PIN without debit card details using Aadhaar OTP - UPI Circular Release

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PSP/Banks should ensure that the facility of UPI on-boarding using Aadhaar with OTP is made available only if the UPI application is being used on mobile having Aadhaar registered mobile number and same mobile number is registered with bank.

UPI members shall comply with the provisions of this circular by 15th December 2021.
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More UPI Scams. Yay.
 
Doesn't this mean that anyone who manages to clone your sim basically has unrestricted access to your bank accounts?
 
sim swap, theft of phone. anyone who has access to your mobile number. can now access upi and transfer funds.

debit card itself was a poor barrier. though some banks (union bank i know) asked for atm pin instead of otp to activate upi.
 

Wait isn't that a risk with every mobile banking application, most just require otp to login (Yes , only you should be knowing your account number , CRN)


They should mandate 2FA (that is for login you should need to provide two different proof of ownership )
 
If you register for a UPI app for the first time, you can't transfer more than 5k within 24-48hrs. The Payer UPI application requests the customer to enter the last 4 digits of the customer's Aadhaar number. Read "Detail flow — Set or Reset UPI PIN using Aadhaar with OTP" in UPI Circular.
 

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