UPI Transaction Limits: How many rupees can be transacted through UPI in a day, this is the limit..
In the digital age, every second internet user is making payments through UPI (Unified Payment Interface). With the UPI app on the phone, this task of transferring money becomes a matter of seconds.
You too might be making UPI payments for things ranging from needles to elephants. Has the question ever come to your mind up how much money can you transfer in a day?
NPCI has set a UPI transaction limit
Yes, it is important to mention here that the National Payments Corporation of India sets a limit of transactions for UPI. Payment can be made through UPI only keeping this limit in mind-
Normal UPI Transaction
According to the information given on the official website of National Payments Corporation of India, the transaction limit for normal UPI is Rs 1 lakh. This is for limit transactions.
Limit for a specific category
With UPI transactions in the capital market, collection, and insurance, this limit increases to Rs 2 lakh.
The UPI transaction limit for IPO (Initial Public Offering) and Retail Direct Scheme has been kept at Rs 5 lakh.
UPI limit for hospitals and educational institutions
According to the information given on the payment website, from December 8, 2023, the Reserve Bank of India has increased the limit of UPI transactions for specific fields.
The Reserve Bank of India has increased the limit for UPI payments to educational institutions and hospitals to Rs 5 lakh. Let us tell you, that before 2023, the limit for UPI payment for educational institutions and hospitals was Rs 1 lakh.
Person-to-person UPI transaction
Every bank can set its conditions for P2P UPI transactions. For example, HDFC Bank sets a limit of Rs 1 lakh or 20 transactions for P2P (Person to Person) and P2M (Person to Merchant) UPI transactions. This limit has been fixed for 24 hours.
According to the rules, 20 UPI transactions can be done daily. After this, the user will have to wait for 24 hours to start the transaction. Only 10 transactions are allowed for third-party UPI apps.
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