Are UPI and net banking the same?

No, UPI and net banking are not the same; they are two different digital payment methods. While both facilitate electronic fund transfers, they differ in several ways:

• UPI enables instant, real-time transfers using a Virtual Payment Address (VPA) or mobile number without requiring bank account details.
• Net banking involves using a bank's website or app for various services like NEFT, RTGS, and IMPS, often requiring account numbers and IFSC codes.
• UPI is designed primarily for quick, mobile-based daily transactions, whereas net banking offers comprehensive features like account management and high-value transfers.