- What is UPI?
Unified Payments Interface (UPI) is an instant payment system developed by the National
Payments Corporation of India (NPCI), an RBI regulated entity. UPI is built over the IMPS
infrastructure and allows you to instantly transfer money between any two parties’ bank
- What is a UPI ID?
UPI ID (also called Virtual Payment Address or VPA) is a unique ID. The customer needs to
create a unique payment ID by adding his bank account details in order to send and accept
money via UPI.
Ex: Once the customer enters your UPI ID and sends the money, it will be directly credited
into beneficiary’s bank account.
3.Up to what limit can I apply for an IPO in UPI?
The limit for IPO application is 2 Lakhs per transaction on UPI.
4.How is IPO application using UPI different from IPO application using ASBA
submitted with intermediaries?
IPO application using UPI is a step towards digitizing the offline processes involved in the
application process by moving the same online. This requires you to have to create a UPI
ID and PIN using any of the UPI enabled mobile application (Banks/ Third Party Apps).
The UPI ID can be used for blocking of funds and making payment in the IPO process.
You can accept the request for the amount you have bid by entering your UPI PIN. The
money shall be earmarked for settlement once the allocation process is completed and
shall be automatically remitted to the Escrow Bank. UPI in IPO process shall essentially
bring in comfort, ease of use and reduce the listing time for IPO.
5. What if my bank is not providing UPI service for IPOs?
In case your bank is not providing UPI services for IPO, you may make use of your bank
account for blocking of funds and depending upon the Phase (I, II or III) in which the
application is being made, submit the application with the respective SCSB or
For more queries, do visit the FAQ section at https://eipo.plindia.com/FAQs%20on%20UPI%202.0%20IPO%20for%20Customer.pdf