UPI hits record with ₹16.73 billion in transactions in December 2024
Trending News
5 days, 4 hours ago

UPI hits record with ₹16.73 billion in transactions in December 2024

Live Mint  

Unified Payments Interface transactions hit a record 16.73 billion in December 2024, shows data released by the National Payments Corporation of India. NPCI also reported that the total value of transactions in December amounted to ₹23.25 lakh crore, which is significantly up from ₹21.55 lakh crore in November. NPCI data NPCI extends deadline for compliance with UPI volume cap On January 1, 2025, NPCI extended the implementation of UPI volume cap guidelines by two years to December 2026. "Considering various factors, the timeline for compliance of existing TPAPs who are exceeding the volume cap is extended by two years, i.e., till December 31, 2026," the NPCI said in a statement.

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History of this topic

How 16.73 billion UPI transactions killed the ubiquitous toffee business
1 day, 5 hours ago

How 16.73 billion UPI transactions killed the ubiquitous toffee business

Live Mint  

India's Unified Payments Interface transactions rose to 16.73 billion in December 2024, National Payments Corporation of India data revealed. Commenting on this narrative, Harshad Shah, a chartered accountant, said, “Before UPI, shopkeepers would trade Toffees for small change, stating shortage of Coins.” “These small amounts of change over weeks would amount to becoming vast sums of Money, which were never …

WhatsApp Pay is Now Available To All Users in India
Top News
5 days, 15 hours ago

WhatsApp Pay is Now Available To All Users in India

Deccan Chronicle  

The National Payments Corporation of India has lifted the UPI user onboarding limit for WhatsApp Pay. “National Payments Corporation of India has removed the UPI user onboarding limit for WhatsApp Pay, with immediate effect. With this development, WhatsApp Pay can now extend UPI services to its entire user base in India,” NPCI said in a press release. NPCI had imposed …

NPCI extends market cap deadline for UPI apps for another two years till 2026
5 days, 16 hours ago

NPCI extends market cap deadline for UPI apps for another two years till 2026

Deccan Chronicle  

New Delhi: In a relief to major players like PhonePe and Google Pay, NPCI has extended the deadline for implementing a 30 per cent volume cap on third-party Unified Payments Interface apps by another two years till December 31, 2026.This is the third time that the NPCI has extended the deadline. "Considering various factors, the timeline for compliance of existing …

India pushes UPI market cap deadline to 2026
Trending News
5 days, 22 hours ago

India pushes UPI market cap deadline to 2026

India Today  

In a big move, the National Payments Corporation of India has decided to delay the implementation of market share caps for Unified Payments Interface payment apps by two years, pushing the deadline to December 2026. The NPCI had initially proposed a cap in 2020, aiming to limit any single UPI payment app to a 30 per cent market share. However, …

UPI hits record 16.73 billion transaction in Dec valued at Rs 23.25 lakh crore
6 days, 6 hours ago

UPI hits record 16.73 billion transaction in Dec valued at Rs 23.25 lakh crore

Deccan Chronicle  

Mumbai: Unified Payments Interface transactions recorded an all-time high of 16.73 billion in December 2024, marking an eight per cent month-on-month increase from November's 15.48 billion. Transaction value was also up by eight per cent to Rs 23.25 lakh crore, compared to Rs 21.55 lakh crore in November as per National Payments Corporation of India data. In value terms, transactions …

Paytm shares drop 4% after NPCI extends deadline for UPI market share cap until 2026
Top News
6 days, 13 hours ago

Paytm shares drop 4% after NPCI extends deadline for UPI market share cap until 2026

Live Mint  

Paytm shares fell by nearly 4 per cent to ₹976.5 on the BSE on Wednesday's trading session after the National Payments Corporation of India extended the deadline for UPI providers to comply with its 30 per cent market share cap by an additional two years, now set for December 31, 2026. This delay will provide short-term relief to Walmart-owned PhonePe …

NPCI extends 30% UPI market share deadline for 3rd party apps to end 2026
Trending News
6 days, 17 hours ago

NPCI extends 30% UPI market share deadline for 3rd party apps to end 2026

Deccan Chronicle  

In a big relief to Google Pay and Walmart-owned PhonePe, the National Payments Corporation of India has extended the deadline for Unified Payments Interface providers to adhere to its 30% market share limit by two more years, until December 31, 2026. In another development, NPCI has lifted the UPI user onboarding limit for WhatsApp Pay, allowing it to extend UPI …

Good news for UPI users! NPCI extends deadline for transaction limits, relief for PhonePe and Google Pay users
6 days, 22 hours ago

Good news for UPI users! NPCI extends deadline for transaction limits, relief for PhonePe and Google Pay users

India TV News  

The National Payment Corporation of India has decided to postpone its plan to implement a 30 percent cap on any individual app's share of transactions within the Unified Payments Interface. This recent development comes as a significant relief for PhonePe, backed by Walmart, and Google Pay, which together account for 85 percent of UPI transactions. NPCI, which is supported by …

New Year 2025: From UPI to pension, key changes in norms of various sectors in upcoming year | Check details
1 week ago

New Year 2025: From UPI to pension, key changes in norms of various sectors in upcoming year | Check details

India TV News  

As the year 2024 ends today, people are set to cheerfully welcome 2025. Here are the key changes that will follow from January 1: UPI The government has extended the transaction limit under Unified Payment Interface from feature phone to Rs 10,000. Rs 2 lakh loan to farmers without guarantee The Reserve Bank of India has announced to provide collateral-free …

Government lifts 100 million cap on WhatsApp Payment, allowing Meta to rollout service to all users in India
1 week ago

Government lifts 100 million cap on WhatsApp Payment, allowing Meta to rollout service to all users in India

India Today  

India is home to WhatsApp’s largest user base of over 500 million people. The government, on Tuesday, has removed restrictions on the app’s payments service, WhatsApp Payment, which is a major win for parent company Meta. Initially capped at 40 million users in 2020 and later extended to 100 million in 2022, the cautious approach by NPCI reflected concerns over …

From Historic UPI Transactions To New Highs In Aviation: Govt Lists Key Milestones Achieved In 2014
Trending News
1 week, 1 day ago

From Historic UPI Transactions To New Highs In Aviation: Govt Lists Key Milestones Achieved In 2014

ABP News  

The year 2024 has been a landmark for India in many ways — from achieving a new record in UPI transactions to new highs in renewable energy generation and becoming the third-largest domestic aviation market. The country achieved remarkable progress and set new milestones under Prime Minister Narendra Modi-led government in sectors like infrastructure, energy, healthcare, education and aviation. As …

India Likely To Log Over 171 Billion UPI Transactions In 2024, NPCI Data Shows
Trending News
1 week, 1 day ago

India Likely To Log Over 171 Billion UPI Transactions In 2024, NPCI Data Shows

ABP News  

The Unified Payments Interface is estimated to surpass 171 billion transactions in 2024, official data from the National Payments Corporation of India revealed. The data showed that this represents a 45 per cent surge in the UPI transactions in the country, as against the 117 billion transactions recorded via UPI in 2023, reported Moneycontrol. On an average, the UPI platform …

RBI introduces new regulations for UPI apps starting January 1, Google Pay and PhonePe rejoice
1 week, 1 day ago

RBI introduces new regulations for UPI apps starting January 1, Google Pay and PhonePe rejoice

India TV News  

Starting January 1, 2025, significant changes are coming for those making UPI payments. A deadline was set for December 31, 2024, and if this deadline isn't extended, starting January 1, users will be able to make payments of up to Rs 10,000 per day through UPI123Pay, up from the previous limit of Rs 5,000. However, the transaction limit for smartphone …

From new limits to new features: All changes made in UPI in 2024
2 weeks, 6 days ago

From new limits to new features: All changes made in UPI in 2024

India TV News  

The number of people making online payments through UPI is growing rapidly, doubling during the day and quadrupling at night. According to NPCI data released in November, there were approximately 15.48 million UPI transactions, amounting to an impressive Rs 21.55 lakh crore. Previously capped at Rs 5,000, the new daily limit is now Rs 10,000, allowing these users to conduct …

UPI achieves record 15,000 crore transactions worth ₹223 Lakh Crore by Nov 2024
3 weeks, 2 days ago

UPI achieves record 15,000 crore transactions worth ₹223 Lakh Crore by Nov 2024

Hindustan Times  

The Finance Ministry said on Saturday that from January to November of this year, 15,547 crore transactions of ₹223 lakh crore were handled through the Unified Payments Interface. From January to November of this year, 15,547 crore transactions of ₹ 223 lakh crore were made over the Unified Payments Interface, "demonstrating its transformative impact on financial transactions" in India.) The …

UPI enables expansion of credit among underserved borrowers: Study
4 weeks, 1 day ago

UPI enables expansion of credit among underserved borrowers: Study

New Indian Express  

BENGALURU: Unified Payments Interface has enabled underserved borrowers to access formal credit for the first time as loans to new-to-credit borrowers in regions with high UPI adoption have increased by 4% and to subprime borrowers by 8%, according to a study. Titled Open Banking and Digital Payments: Implications for Credit Access, the study points out that the UPI, since its …

’India’s success with UPI offers replicable model for other nations’
1 month ago

’India’s success with UPI offers replicable model for other nations’

Live Mint  

New Delhi, December 7 : India's success with UPI offers a replicable model for other nations, a paper written by noted experts asserted, arguing that how this indigenous fintech solution combined public digital infrastructure with open banking policies to reduce financial exclusion, foster innovation, and promote equitable economic growth. In regions with high UPI adoption, loans to new-to-credit borrowers grew …

UPI enabled significant expansion of credit among underserved borrowers: Study
1 month ago

UPI enabled significant expansion of credit among underserved borrowers: Study

Live Mint  

New Delhi, Dec 7 Unified Payments Interface has brought in a significant expansion of consumer credit among the underserved borrowers who had no credit history, a study said. By October 2023, 75 per cent of all retail digital payments in India were through UPI, according to a study titled Open Banking and Digital Payments: Implications for Credit Access. It has …

RBI increases UPI Lite transaction limit: How will you benefit?
1 month ago

RBI increases UPI Lite transaction limit: How will you benefit?

India Today  

The Reserve Bank of India has raised the transaction limit for UPI Lite to Rs 1,000 per transaction and the wallet limit to Rs 5,000, compared to the earlier limits of Rs 500 and Rs 2,000, respectively. The UPI Lite framework, first introduced in January 2022 and updated in August 2023, was created to simplify small-value digital payments. Convenience for …

Reserve Bank of India raises UPI Lite wallet limit from ₹2,000 to ₹5,000
Trending News
1 month ago

Reserve Bank of India raises UPI Lite wallet limit from ₹2,000 to ₹5,000

Op India  

The Reserve Bank of India on Wednesday revised the wallet limit for the UPI Lite from Rs 2,000 to Rs 5,000. As per the new rules introduced today, the upper transaction limit for UPI Lite under offline framework has been increased from Rs 500 to Rs 1,000 per transaction. “The offline framework has been updated and the enhanced limits for …

RBI increases UPI Lite wallet limit to ₹5,000, transaction cap to ₹1,000
1 month ago

RBI increases UPI Lite wallet limit to ₹5,000, transaction cap to ₹1,000

Hindustan Times  

The Reserve Bank of India on Wednesday increased the UPI Lite wallet limit to ₹5,000 and per-transaction limit to ₹1,000. ".the enhanced limits for UPI Lite shall be ₹1,000 per transaction, with ₹5,000 being the total limit at any point in time," said a Reserve Bank circular, PTI reported. 5000 in their UPI Lite wallet at any given time. UPI …

RBI revises wallet limit for UPI Lite from Rs 2,000 to Rs 5,000: Check new guidelines
1 month ago

RBI revises wallet limit for UPI Lite from Rs 2,000 to Rs 5,000: Check new guidelines

India TV News  

In a significant development, the Reserve Bank of India on Wednesday revised the wallet limit for the UPI Lite from Rs 2,000 to Rs 5,000. According to the new rules introduced, the upper transaction limit for UPI Lite under offline framework has been increased from Rs 500 to Rs 1,000 per transaction. Check new guidelines As per the new regulations, …

UPI 123 Pay: Key changes to come into effect before January 1
1 month, 2 weeks ago

UPI 123 Pay: Key changes to come into effect before January 1

Live Mint  

The Reserve Bank of India had extended the transaction limit from ₹5,000 to ₹10,000 for UPI 123Pay on October 9. Those who are unaware, UPI 123PAY enables digital payments on feature phones to access UPI services without internet connection. The members will collectively identify and tag UPI 123Pay transactions as per the rules given below: A.) C.) Initiation channel On …

Weekend Wrap: From Torrent Power to Uno Minda, top market movers and news of week
3 months, 2 weeks ago

Weekend Wrap: From Torrent Power to Uno Minda, top market movers and news of week

Live Mint  

Top News The National Payments Corporation of India has announced a significant change to its Unified Payments Interface transaction limit. Among the prominent NFO launches are the Bandhan Business Cycle Fund by Bandhan AMC and the SBI Nifty 500 Index Fund by SBI AMC. In addition, Nippon AMC has launched the Nippon India Nifty 500 Momentum 50 Index Fund, designed …

Now, you will be able to transfer ₹5 lakh in a single UPI transaction under THIS category: Check details
3 months, 3 weeks ago

Now, you will be able to transfer ₹5 lakh in a single UPI transaction under THIS category: Check details

Live Mint  

NPCI revised the limit to ₹ 5 lakh for payments of tax, hospitals & educational services and payment for IPO and G-Secs If you rely on the Unified Payments Interface for most of your payments, then there is good news for you. {{^adFree}} {{/adFree}} So, now consumers will be able to make UPI payments of ₹5 lakh per transaction for …

India’s digital payments to grow threefold from 159 bn to 481 bn by FY29: PwC re
4 months ago

India’s digital payments to grow threefold from 159 bn to 481 bn by FY29: PwC re

Live Mint  

- India's digital payments industry is witnessing a huge surge, with transaction volumes growing by 42 per cent year-on-year in FY 2023-24, according to a new report by PwC. In FY 2023-24, UPI saw an impressive 57 per cent YoY growth in transaction volume, surpassing 131 billion transactions. Growth trends The report estimates that by FY 2028-29, UPI transactions could …

Rs 81 lakh crore worth transactions processed by UPI in April-July | DETAILS
4 months, 1 week ago

Rs 81 lakh crore worth transactions processed by UPI in April-July | DETAILS

India TV News  

India's Unified Payments Interface processed nearly ₹ 81 lakh crore transactions in the April-July period this year, which is a staggering 37 per cent increase and surpassing all world's leading digital payments platforms. According to latest data by global payments hub Paysecure, UPI processed 3,729.1 transactions per second — a 58 per cent surge over the 2,348 transactions every second …

PM Narendra Modi to address Global Fintech Fest on August 30 in Mumbai
4 months, 2 weeks ago

PM Narendra Modi to address Global Fintech Fest on August 30 in Mumbai

Business Standard  

Prime Minister Narendra Modi is likely to join the Global Fintech Fest on August 30. The event will also have representation from the country’s top regulators, including Reserve Bank of India Governor Shaktikanta Das and Securities and Exchange Board of India chief Madhabi Puri Buch. The payments system, run on the National Payments Corporation of India’s rails, has clocked 55.66 …

Swiggy integrates UPI for 5-second in-app payments: How does it work?
4 months, 3 weeks ago

Swiggy integrates UPI for 5-second in-app payments: How does it work?

India TV News  

Swiggy, a popular online food delivery platform has recently announced the launch of 'Swiggy UPI', a new integration of National Payments Corporation of India’s digital payments solution. Users could complete UPI transactions without leaving the Swiggy app, which will reduce the payment process from five steps to just one, the food aggregator stated in a statement. Anurag Panganamamula, Head of …

RBI Introduces Delegated Payment Through UPI, Cheque Clearing Time Reduced
4 months, 4 weeks ago

RBI Introduces Delegated Payment Through UPI, Cheque Clearing Time Reduced

Deccan Chronicle  

Mumbai: The Reserve Bank of India on Thursday proposed to introduce Delegated Payments’ in UPI. Delegated Payments would allow an individual to set a UPI transaction limit for another individual on the primary user’s bank account. In another major announcement, the RBI also enhanced the limit for tax payments through UPI from ₹1 lakh to ₹5 lakh per transaction. At …

UPI transactions cross ₹20 trillion for third successive month in July 2024
5 months ago

UPI transactions cross ₹20 trillion for third successive month in July 2024

The Hindu  

Payments through the Unified Payments Interface reported a 45% yearly growth, according to data from the National Payment Corporation of India. In the first four months of the current fiscal year, UPI recorded transactions amounting to ₹80.79 trillion across approximately 55.66 billion transactions. In 2023-24, total UPI transactions were 131 billion, compared to 84 billion in 2022-23. The monthly bulletin …

UPI grows in India: Here's how many users adopting it every month, what's fueling it
5 months, 2 weeks ago

UPI grows in India: Here's how many users adopting it every month, what's fueling it

India TV News  

The digital payment sector continues to grow rapidly, with the Unified Payments Interface adding up to 60 lakh new users every month. According to the latest data from the National Payments Corporation of India, the number of transactions on the UPI platform increased by 49 percent year-on-year to 13.9 billion in June, with the transaction value rising by 36 percent …

Use Of UPI Payments In India Surged By 7.2% In 2022-23: Report
5 months, 4 weeks ago

Use Of UPI Payments In India Surged By 7.2% In 2022-23: Report

News 18  

The use of digital technologies for business activities in India, especially Unified Payments Interface for ordering, has increased significantly. According to a recent survey by the Department of Statistics, the use of the Internet for business purposes, be it for UPI payments or online ordering, has increased from 7.7 percent to 13.5 percent in rural areas and from 21.6 percent …

UPI Disruptions Not NPCI's Fault, Banks' Outdated Tech Is Responsible, Says RBI Guv
6 months, 3 weeks ago

UPI Disruptions Not NPCI's Fault, Banks' Outdated Tech Is Responsible, Says RBI Guv

News 18  

UPI customers around the country have recently been experiencing difficulties due to issues with digital payments. The National Payments Corporation of India, which oversees the UPI platform, is not the primary cause of the frequent disruptions in UPI payments, according to Reserve Bank of India Governor Shaktikanta Das. Furthermore, UPI transactions reach 450 million per day, and according to NPCI …

Adani Group to enter UPI, digital payment, credit card business to compete Google and Reliance: Report
7 months, 1 week ago

Adani Group to enter UPI, digital payment, credit card business to compete Google and Reliance: Report

Live Mint  

Adani Group is in discussions to enter the e-commerce and payments space as the conglomerate develops a digital company to rival Google and Reliance Industries, owned by Mukesh Ambani, in the world’s most populous country, according to the Financial Times, which cited sources. As per the news report, it is also negotiating to provide online shopping via the Open Network …

UPI increases convenience but leading to another problem: Here's what experts have to say
7 months, 3 weeks ago

UPI increases convenience but leading to another problem: Here's what experts have to say

India TV News  

As more and more people in India embrace digital and cashless payments, they are using the Unified Payments Interface to purchase not only daily essentials but also expensive home appliances, high-end gadgets, and designer clothing. However, experts warn that the seamless and quick digital transaction process via UPI may lead people to overspend on items they may not need. According …

Banks rely on AI as digital transactions grow, and methodology of frauds evolves
8 months ago

Banks rely on AI as digital transactions grow, and methodology of frauds evolves

Hindustan Times  

India’s digital transactions continue to see rapid growth, and that translates to big volumes. On April 24, the Reserve Bank of India barred Kotak Bank from issuing new credit cards for now, due to “the absence of a robust IT infrastructure and IT Risk Management framework.” It draws on a mix of factors, including reliability of the bank’s infrastructure alongside …

The UPI paradox: Making you overspend but helping others save
8 months ago

The UPI paradox: Making you overspend but helping others save

India Today  

A small UPI code peeks out of the green coconuts heaped on Yuvraj Yadav's handcart outside a park in Delhi's GK-1. "A significant majority, 74.2% of the respondents, admitted to experiencing increased spending after adopting UPI," Dhruv Kumar, Assistant Professor of IIIT Delhi, tells IndiaToday.In. "Academic research suggests that paying with cash makes people spend more consciously than using digital …

Touched 5 mn UPI transactions monthly after Paytm partnership: Yes Bank CEO
8 months, 1 week ago

Touched 5 mn UPI transactions monthly after Paytm partnership: Yes Bank CEO

New Indian Express  

New Delhi, April 27 Yes Bank saw growth in unified payments interface transactions monthly -- from nearly 3.3 to 5 million -- after its partnership with Paytm, its Managing Director and CEO, Prashant Kumar, said on Saturday. Yes Bank registered Rs 452 crore in net profit for the fourth quarter of FY24 compared to Rs 202.43 crore in the same …

Tech Tonic | The gaps in India’s digital payments ecosystem need plugging
8 months, 1 week ago

Tech Tonic | The gaps in India’s digital payments ecosystem need plugging

Hindustan Times  

There is little doubt that Indians are spending more than ever before. You cannot use your credit card or debit card for subscriptions and recurring payments on the Apple App Store or the Google Play Store, be it for any app or service. Then there was a pursuit of getting RuPay credit cards aboard the UPI or unified payments interface. …

73% users will stop using UPI if…: What new survey reveals
10 months ago

73% users will stop using UPI if…: What new survey reveals

Hindustan Times  

Most users will stop using Unified Payments Interface if a transaction fee is levied on it, an online survey by LocalCircles revealed. Respondents also claimed that they have paid a transaction fee on their UPI payment once or more in the last one year, the survey added as 73% of those surveyed indicated that they will stop using UPI if …

UPI transactions hit a new record with ₹18.23 lakh crore in Dec; 54% higher
1 year ago

UPI transactions hit a new record with ₹18.23 lakh crore in Dec; 54% higher

Live Mint  

The volume of UPI transactions continues to rise month after month as the total monthly transaction amount touched ₹18.23 lakh crore in Dec last year, 54 percent higher than the corresponding data of 2022. Also, the number of UPI transactions hit 11.24 billion in November and 11.41 billion in October. Month Transaction amount No of transactions Oct 17.16 11.41 billion …

5 new ways to use UPI payments as 2024 begins with these rule changes
1 year ago

5 new ways to use UPI payments as 2024 begins with these rule changes

Hindustan Times  

As we enter the new year, it's essential to take note of the UPI rules that have been changed. National Payments Corporation of India have instructed payment apps to deactivate inactive UPI IDs after one year. Users of platforms like Google Pay and PhonePe must verify and ensure their UPI IDs remain active, also reviewing associated phone numbers for inactivity. …

CoWIN Breach, Apple Alerts: What Was It Like Living in Digital India in 2023?
1 year ago

CoWIN Breach, Apple Alerts: What Was It Like Living in Digital India in 2023?

The Quint  

Flip-flop on laptop, tablet imports: Initially, the central government placed imports of laptops, tablets, all-in-one personal computers, and ultra-small form factor computers, and servers under the ‘restricted’ category, making their imports permissible only under a valid licence. Apple retail stores in India: In April, CEO Tim Cook made his way to India to launch the first Apple retail stores in …

India’s Growth Story is Linked to Progress Made on Digitisation and Its Access
1 year ago

India’s Growth Story is Linked to Progress Made on Digitisation and Its Access

The Quint  

The committee on Deepening Digital Payments constituted by the RBI in 2019 under the chairmanship of Nandan Nilekani had recommended that market forces should drive transaction prices for the inclusion of small startups and incentivising innovation. It underlined that while banks have a role in contributing to the payment system, the government and the RBI should also share the cost …

RBI raises UPI transaction limits, e-mandate bar; check all announcements
1 year ago

RBI raises UPI transaction limits, e-mandate bar; check all announcements

Hindustan Times  

Reserve Bank of India Governor Shaktikanata Das on Friday announced several decisions on the Unified Payments Interface, including raising the Unified Payments Interface payment limit to hospitals and educational institutions to ₹5 lakh from ₹1 lakh. The UPI, India's mobile-based fast payment system, enables users to make instantaneous, round-the-clock payments via Virtual Payment Address UPI limits increased: While unveiling the …

UPI Payment Limit to Hospitals Educational Institutes Raised to Rs 5 Lakh RBI
1 year ago

UPI Payment Limit to Hospitals Educational Institutes Raised to Rs 5 Lakh RBI

Deccan Chronicle  

Mumbai: To encourage the use of UPI for medical and educational services, the Reserve Bank on Friday proposed to enhance the limit for payments to hospitals and educational institutions from Rs one lakh to Rs 5 lakh per transaction. Due to the ease of payments offered by it, UPI is emerging as a preferred mode of payment for not only …

RBI Raises UPI Payment Limit For Healthcare, Educational Services To Rs 5 Lakh
1 year ago

RBI Raises UPI Payment Limit For Healthcare, Educational Services To Rs 5 Lakh

ABP News  

The Reserve Bank of India announced on Friday that it is increasing the UPI payment limit to Rs 5 lakh for payments made to hospitals and educational institutions. Currently, the UPI payments are capped at Rs 1 lakh and the revised limit applies only for healthcare and educational facilities. It is now proposed to enhance the UPI transaction limit for …

RBI hikes UPI transaction limit for hospitals and educational institutions
1 year ago

RBI hikes UPI transaction limit for hospitals and educational institutions

The Hindu  

The Reserve Bank of India raised the Unified Payments Interface payment limits for hospitals and educational institutions from ₹1 lakh to ₹5 lakh per transaction. “The enhanced limit will help consumers make UPI payments of higher amounts for education and healthcare purposes,” he said. It is now proposed to enhance this limit to ₹1 lakh per transaction for recurring payments …

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