New Delhi, June 17 -- Following an NPCI circular dated April 26, response time of UPI transactions is seen to be reduced from 30 seconds to 15 with effect from June 16.

National Payments Corporation of India (NPCI) had issued a circular in April telling banks to ensure that the response time is reduced as per the table given below.

The changes were announced in a bid to streamline the performance of UPI. The request pay and response pay is revised from 30 seconds to 15, reads the circular. And when someone has to check the transaction status, the response time is reduced from 30 seconds to 10.

When it comes to transaction reversal, the response time is reduced to 10 seconds from 30 earlier. And finally, for validating addresses, the re...