UPI Business Accounts: RBI’s New Rules Regarding KYC of UPI Business Accounts to Prevent Digital Fraud

If you are a small business owner and your shop accepts payments through QR codes or UPI, then their is a big announcement from RBI. RBI is said to have issued new rules regarding KYC of UPI business accounts to prevent digital fraud and cyber fraud. According to the reports, all traders will have to undergo Re-KYC and the deadline for this is 15 September 2026.There are also claims that the QR code may be blocked if the KYC is not updated within the given time.

RBI’s New Rules Regarding KYC of UPI Business Accounts to Prevent Digital Fraud

With the increasing cases of digital fraud and cyber fraud, the importance of verifying the details of business accounts is being emphasized. There are allegations that some people are opening business accounts using fake documents or in the name of another person and transferring fraudulent money to those accounts. Re-KYC is said to make it easier to identify who is a genuine trader and who is using QR codes in the name of a business. This may help banks and financial institutions monitor fake QR codes and suspicious business accounts.

If this rule is implemented, small traders may face more problems than large traders. Street vendors, street vendors, family vendors, and other small traders may not be aware of the Re-KYC process even if they accept payments through QR codes. Many small traders may not have sufficient knowledge, especially regarding re-uploading documents or updating KYC online. Therefore, if any such rules are in place, it is mandatory to follow the instructions of the concerned bank, UPI app or payment service provider for KYC related activities.

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