The National Payments Corporate of India (NPCI) has announced to segregate UPI (Unified Payments Interface) settlement cycles for authorised and dispute transactions.
At present, UPI processes ten settlement cycles per day through RTGS wherein each cycle includes both authorised and dispute settlements. Considering the significant increase in volume of transactions and it has been decided to segregate authorised and dispute settlements to facilitate timely completion of the daily settlement process.
The revised settlement process and framework include following details:
1. As the above table shows, settlement cycles between 1 to 10 will now only comprise authorised transactions. Consequently, no disputes will be processed in these cycles. There will be no change in the existing cut-over timings or RTGS posting timelines.
2. Dispute related settlements will be processed twice daily in settlement cycles 11 and 12 as shown in the table above. These cycles will include only dispute transactions. The NTSL file naming convention will incorporate identifiers DC1 and DC2 (where DC denotes dispute cycle)
3. Other settlement rules, however, stay unchanged including settlement timings, reconciliation reports, GST reports.
In another news, NPCI has extended the deadline for stopping all autopay mandates linked to the erstwhile @paytm UPI ID handles by two months till 31 Oct 2025, four people close to the development told Mint.
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