Is KYC needed for UPI?

Full KYC is not mandatory for basic UPI money transfers on a payment application. UPI functions by linking to your existing bank account, which is already KYC-compliant. To use UPI, you only need to ensure your mobile number is registered with your bank and set a secure UPI PIN. However, completing full KYC on the application may be necessary to access higher transaction limits, wallet services, or other advanced financial features as per RBI guidelines.