What is a UPI code in a bank?

A UPI code in a bank refers to a UPI ID or Virtual Payment Address (VPA), which is a unique identifier used to send and receive money instantly through the Unified Payments Interface. It acts as a digital address for your bank account, eliminating the need to share sensitive details like account numbers or IFSC codes. Key features include:

• Secure and encrypted transactions regulated by the RBI and NPCI.
• Enables 24/7 real-time fund transfers.
• Links multiple bank accounts to a single mobile application.
• Uses a secondary 4 or 6-digit UPI PIN for transaction authorization.