UPI Transaction Limit Increased To Rs 5 Lakh For These Payments
NDTV
The updated limit will apply to transactions related to tax payments, payments to hospitals and educational institutions; and investments in IPOs and RBI retail direct schemes.
The National Payments Corporation of India (NPCI) has increased the limit for Unified Payments Interface (UPI) transactions to Rs 5 lakh for certain types of payments. This change, effective from September 16, is set to bring greater flexibility and convenience to users who make high-value transactions through UPI.
The standard UPI transaction limit has been Rs 1 lakh per transaction, with a slightly higher limit of Rs 2 lakh for specific categories such as capital markets, collections, insurance and foreign inward remittances. The new measure, as outlined in an NPCI circular dated August 24, will see this limit increase to Rs 5 lakh for transactions related to tax payments, payments to hospitals and educational institutions and investments in IPOs and RBI retail direct schemes.
According to the NPCI circular, "to enable this enhancement" the following conditions must be met:
