There are some exaggerations and factual errors in your claims. > Transferring money from one personal account to any new account (adding a beneficiary account

There are some exaggerations and factual errors in your claims. > Transferring money from one personal account to any new account (adding a beneficiary account) would take more than 4 hours. NEFT, which has been around for a long time before IMPS and UPI came, would transfer money in about an hour's time. For larger transactions, RTGS would transfer within a few minutes. I agree that UPI is a lot faster, but it comes with lower transfer limits. Four hours for a transfer through NEFT or RTGS could be extreme cases, since RBI has some tightly stipulated deadlines for credit to the receiver's account for both (you can check RBI's website for more information). > - Transferring money doesn't have any extra charges Well, UPI transactions do have fees, depending on the bank. IIRC Kotak introduced or was set to introduce charges for it. The rest of them would've followed, since NPCI is not a government organization (like RBI), but a private consortium of banks. But RBI's recent notification removing transaction charges for NEFT and RTGS (which are owned and run on RBI) may have given pause to banks wanting to charge for UPI. > - Safe, transaction can be done only from mobile which is linked with bank. The "only" needs to be removed here. UPI transactions can be done from mobile, but can also be done from any computer or device with a browser if one has online banking and the particular bank supports UPI over that. > There is no need to give personal information, one can provide UPI address or Virtual UPI address. Your (recipient's) real name would still be visible to the payer on the payment confirmation screen. I consider name also as personal information, if you really want to remove all real identifiers from transactions and make it seem like it's anonymous.