Funds Transfer - UPI Introduction

[portfolioplus911]

@ishantayal

I understand as they cannot track from where the funds are coming thus it is not a technically feasible solution.

Its more to do with regulatory Requirement, for your further reading:

Why do I need to upload a screenshot to get a credit of funds transferred via IMPS?

Currently, not all banks give us bank account number from where the funds have reached us when transferred using UPI/IMPS. Unless we know that, there is no way we will know whom to update the funds for. Hence we ask for the clients to upload the screenshot. If a bank sends us your account number, we will update within 5 mins even if you don’t update screenshot. RBI has mandated that all banks should share account numbers when IMPS/UPI transfers happen, by March 31st, 2017. So hopefully soon, we …