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Public sector banks including SBI cast doubt on safety of UPI

Public sector banks including SBI cast doubt on safety of UPI

Friday, April 14, 2017, 12:30 PM

State-run banks including SBI the largest in the country, have redflagged security concerns over UPI, a retail payment facility, and have asked the nodal agency to include a double layer of security for customer authentication. SBI has capped UPI transactions at Rs 20,000 a day compared with Rs.1 lakh by other banks and may not raise the limit if it remains unconvinced about security.
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