What is a UPI-enabled bank account?

A UPI-enabled bank account is a savings or current account held with a bank that participates in the Unified Payments Interface (UPI) network regulated by the Reserve Bank of India (RBI). This status allows the account to be linked to a mobile application to facilitate instant, real-time fund transfers. Key features include:

• The ability to send or receive money 24/7 using a Virtual Payment Address (VPA) or mobile number.
• Elimination of the need for bank account numbers or IFSC codes for every transaction.
• Secure authentication using a personalized UPI PIN.