New Delhi. The popularity of UPI payment is increasing in the country. Be it buying daily use goods or sending money to someone, UPI helps us everywhere. UPI gives you the facility to transfer money easily.
If you also use UPI then there is good news for you. National Payments Corporation of India (NPCI) has increased the limit of online payment to Rs 5 lakh. However, this facility will be available for some special categories.
Let us tell you that usually the limit for a single transaction is Rs 1 lakh, whereas for transactions related to capital market, collection, insurance and foreign inward remittance, this limit is Rs 2 lakh per day.
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Limit of up to Rs 5 lakh on these 3 types of UPI transactions
1) Tax payment
2) Hospitals and educational institutions
3) For IPO and RBI Retail Direct Scheme
In a circular issued by NPCI on August 24, 2024, it was said that there is a need to increase the limit of each transaction in UPI for special categories. From Monday (September 16, 2024), it may be possible to use UPI for payments of up to Rs 5 lakh in a single transaction.
UPI facility was started in the year 2016.
UPI payment system was started in the year 2016. UPI system is operated by National Payment Corporation of India (NPCI). UPI is a real time payment system.
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