Definition
The refund process in UPI refers to the steps taken to return money to a user after a failed or incorrect transaction.
How It Works
If a UPI transaction fails but money is debited, the refund process is triggered automatically. The NPCI and the bank reverse the amount, usually within 2–3 working days.
Key Points
- Works for failed, duplicate, or wrong payments
- Users can also raise disputes in UPI apps
- Refunds are credited back to the source account
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