New Delhi:
In today’s digital era, every other internet user is using UPI (Unified Payment Interface) for making payments.
The UPI app on your phone makes money transfers quick and easy, taking just seconds to complete.
Are you making UPI payments for small or big purchases? Have you thought about the maximum amount you can transfer in a day?
NPCI has set UPI transaction limit
It’s worth noting that the National Payments Corporation of India sets a transaction limit for UPI payments.
Transactions through UPI must adhere to this limit.
Normal UPI transaction
As per the National Payments Corporation of India’s official website, the standard transaction limit for UPI is Rs 1 lakh.
Transactions exceeding this limit are subject to special conditions.
Limits for specific categories
The UPI transaction limit rises to Rs 2 lakh for transactions related to capital markets, collections, and insurance.
For IPO (Initial Public Offering) and Retail Direct Scheme transactions, the UPI limit is set at Rs 5 lakh per transaction.
UPI Limit for Hospitals and Educational Institutions
From December 8, 2023, as per the details on the payment website, the Reserve Bank of India has raised the transaction limits for certain categories in UPI payments.
The Reserve Bank of India has raised the UPI payment limit for educational institutions and hospitals to Rs 5 lakh. Before 2023, the UPI payment limit for educational institutions and hospitals was Rs 1 lakh.
Person to Person UPI Transactions
Banks may have varying terms for P2P UPI transactions. For instance,
HDFC Bank imposes a limit of Rs 1 lakh or 20 transactions for P2P (Person to Person) and P2M (Person to Merchant) UPI transactions within a 24-hour period.
As per the rules, you can make 20 UPI transactions daily.
After reaching this limit, you need to wait 24 hours before starting another transaction. Additionally, third-party UPI apps allow only 10 transactions.
