Can a bank provide UPI?

Yes, a bank can provide Unified Payments Interface (UPI) services. Under the guidelines set by the National Payments Corporation of India (NPCI) and regulated by the Reserve Bank of India (RBI), banks act as Payment Service Providers (PSPs). Banks offer UPI functionality through their official mobile banking applications, allowing customers to link their savings or current accounts to perform instant, real-time fund transfers. Additionally, banks provide the necessary technical infrastructure for authentication and settlement, ensuring secure transactions via UPI IDs and QR codes 24/7.