UPI was launched in India in the year 2016. UPI is called Unified Payment Interface. It was launched by National Payments Corporation of India i.e. NPCI. And now the users of UPI are continuously increasing in India.
People get many facilities in UPI. Now someone has to send money to another person. So that too can be sent through UPI in just a few seconds. Almost all banks in India provide UPI facility.
In UPI you also get the feature of an ICD (Interoperable Cash Deposit). Which is a very useful feature for UPI users. It is used to deposit money.
By using ICD you can deposit cash from your bank account to any other bank account. You will get this facility in the ATMs of banks and white level ATM operators.
To use this, money is deposited using the mobile number linked to UPI, VPA i.e. virtual payment address and bank account number and IFSC code.
Generally there is a lot of crowd when you go to deposit money in banks. In such a situation, money can be easily deposited through cash deposit machine by using the ICD (Interoperable Cash Deposit) feature of UPI.
Published at : 07 Jan 2025 08:27 AM (IST)