Will NPCI refund money from UPI?

NPCI does not typically issue refunds directly for failed or wrong UPI transactions initially. Funds from failed transactions are usually reversed automatically within 48 hours (T+1 day) by your bank. If this fails, you should raise a complaint via your UPI application (like Paytm) or contact your bank. NPCI acts as an escalation point if your bank or app fails to resolve the issue, providing a grievance redressal mechanism.