Unauthorised UPI ID usage by Fintechs under NPCI Scanner

The NPCI is investigating fintechs that use unauthorized UPI IDs for digital payments without proper permissions. This scrutiny comes after a surge in fraudulent transactions and concerns about data privacy and security. These fintech platforms allegedly created UPI IDs without adhering to RBI and NPCI guidelines, posing risks to users' financial information. The move aims to protect the integrity of the UPI system.