RBI Raises UPI Payment Limit For Healthcare, Educational Services To Rs 5 Lakh
1 year, 1 month 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 payment to hospitals and educational institutions from Rs 1 lakh to Rs 5 lakh per transaction.The enhanced limit will help consumers make UPI payments of higher amounts for education and healthcare purposes,” Das said during the announcement. “It is now proposed to enhance this limit to Rs 1 lakh per transaction for recurring payments of mutual fund subscriptions, insurance premium subscriptions and credit card repayments,” he said, reported PTI.

India Payments Pti Das Lakh Governor Upi Payment Rs 5 Lakh Rs 1 Lakh Payment Limit Recurring Payments Upi Payment Limit  payments  india  upi  payment  limit  regulator  rs  healthcare  recurring  governor  educational  raises  services  rbi  lakh  financial

History of this topic

UPI hits record with ₹16.73 billion in transactions in December 2024
Trending News
6 days, 1 hour 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 …

Good news for UPI users! NPCI extends deadline for transaction limits, relief for PhonePe and Google Pay users
1 week 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, 1 day 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 …

India Likely To Log Over 171 Billion UPI Transactions In 2024, NPCI Data Shows
Trending News
1 week, 2 days 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, 2 days 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
3 weeks 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, 3 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 …

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 …

RBI to allow small finance banks to extend pre-sanctioned credit lines through UPI, check details
1 month ago

RBI to allow small finance banks to extend pre-sanctioned credit lines through UPI, check details

India TV News  

In a latest development, the Reserve Bank of India on Friday proposed to allow small finance banks to extend pre-sanctioned credit lines through Unified Payments Interface. Credit line on UPI has the potential to make available low-ticket, low-tenor products to "new-to-credit" customers, RBI Governor Shaktikanta Das said. The scope of UPI was in September 2023 expanded by enabling pre-sanctioned credit …

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, …

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 …

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 …

RBI Introduces Delegated Payment Through UPI, Cheque Clearing Time Reduced
5 months 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 …

RBI enhances UPI tax payment limit to ₹5 lakh per transaction
5 months ago

RBI enhances UPI tax payment limit to ₹5 lakh per transaction

The Hindu  

The Reserve Bank of India has decided to enhance the limit for tax payments via UPI from ₹1 lakh to ₹5 lakh per transaction, Governor Shaktikanta Das announced on Thursday. “As direct and indirect tax payments are common, regular and high value, it has been decided to enhance the limit for tax payments through UPI from ₹1 lakh to ₹5 …

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. …

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, 1 month 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, 1 month 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 hikes UPI transaction limit for hospitals and educational institutions
1 year, 1 month 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 …

UPI crosses 10 bn transactions second time in September
1 year, 3 months ago

UPI crosses 10 bn transactions second time in September

Deccan Chronicle  

Chennai: With Unified Payments Interface crossing 10 billion transactions for the second straight month, this seems to have become the new normal for the payment interface. UPI recorded 10.56 billion transactions worth Rs 15.8 lakh crore in September, according to the National Payments Corporation of India. While the transaction volume marginally increased from Rs 15.76 lakh crore in August to …

RBI Governor Das highlights UPI advancements: AI integration, enhanced transaction limit and UPI Lite
1 year, 4 months ago

RBI Governor Das highlights UPI advancements: AI integration, enhanced transaction limit and UPI Lite

India TV News  

RBI Governor Shaktikanta Das has announced several enhancements to the Unified Payments Interface aimed at improving ease of payments. These include the introduction of conversational AI for payments, the ability to conduct transactions using UPI in non-Internet environments through UPI Lite, and an increase in the transaction limit for small-ticket expenses from Rs 200 to Rs 500. Unlike the regular …

Data | UPI payments: relief for users, a headache for banks
1 year, 6 months ago

Data | UPI payments: relief for users, a headache for banks

The Hindu  

The dizzying array of daily limits on United Payments Interface transactions set by apps and banks — both in terms of value and volume — has put the spotlight on the rapid rise in such transactions in India in recent years. Such limits were introduced given the surge in the volume of UPI transactions in India in recent years after …

Explained | Daily limit on UPI transactions
1 year, 6 months ago

Explained | Daily limit on UPI transactions

The Hindu  

The story so far: As transactions facilitated by the Unified Payments Interface breach record highs, banks have opted for daily limits. As for apps, among others, Google Pay users breach the daily limit if they try to send money more than ten times in a single day across all UPI apps. The NPCI has also increased the value limit in …

RBI approves expanding UPI transactions to allow credit payments
1 year, 9 months ago

RBI approves expanding UPI transactions to allow credit payments

Live Mint  

Individuals with pre-approved credit lines from banks will soon be able to use it to make payments over the Unified Payments Interface, the Reserve Bank of India said on Thursday, setting the stage for new credit products over the homegrown payments platform. Last June, the RBI also approved the use of Rupay credit cards on UPI, stoking hopes that it …

UPI payment available for international travellers visiting Delhi, Mumbai, Bengaluru airports – Details
1 year, 10 months ago

UPI payment available for international travellers visiting Delhi, Mumbai, Bengaluru airports – Details

India TV News  

The Reserve Bank of India has announced that the Unified Payments Interface payment facility for foreign visitors to India has commenced operations. With the UPI payment facility, inbound travelers will be able to make local payments during their stay in India. However, there are plans to expand this payment facility to other airports and cities in the near future, enabling …

RBI allows UPI-based transactions for inbound travellers to India
1 year, 10 months ago

RBI allows UPI-based transactions for inbound travellers to India

The Hindu  

A facility to enable all in-bound travellers visiting India to make local payments using Unified Payments Interface while they are in India has been made available from Tuesday, the Reserve Bank of India said. “Eligible travellers would be issued Prepaid Payment Instruments wallets linked to UPI for making payments at merchant outlets. To begin with, ICICI Bank, IDFC First Bank …

Travellers from G20 can use UPI for payments at select airports: RBI Governor
1 year, 11 months ago

Travellers from G20 can use UPI for payments at select airports: RBI Governor

Hindustan Times  

The Reserve Bank on Wednesday allowed inbound travellers from G20 nations arriving at select airports to use the popular UPI for making payments in the country. UPI is a system that powers multiple bank accounts into a single mobile application, merging several banking features, seamless fund routing & merchant payments into one hood. It is now proposed to permit all …

Explained | India’s UPI push
1 year, 11 months ago

Explained | India’s UPI push

The Hindu  

The story so far: On January 10, the National Payments Corporation of India paved the way for international numbers to be able to transact using UPI. Addressing theinfrastructural and technological changes required to support such payments, he said, “Currently, all the internal systems as well as ecosystem players such as banks, NPCI, etc only understand India-based mobile numbers for UPI …

UPI apps like Google Pay, Paytm and PhonePe may impose transaction limits soon; details here
2 years, 1 month ago

UPI apps like Google Pay, Paytm and PhonePe may impose transaction limits soon; details here

Firstpost  

The National Payments Corporation of India, along with the Reserve Bank of India, has decided to implement its proposed 31 December deadline for limiting the volume cap for third-party app providers, as per reports. To avoid any monopoly by UPI apps, a proposal of a 30 per cent volume cap has been sent by the NPCI for approval from the …

UPI transactions up over 3 per cent at 678 crore in September: NPCI Data
2 years, 3 months ago

UPI transactions up over 3 per cent at 678 crore in September: NPCI Data

India TV News  

UPI transactions grew by over 3 per cent to 6.78 billion in September from a month ago, data from NPCI showed on Saturday. In value terms, 6.78 billion transactions in last month corresponds to transactions worth Rs 11.16 lakh crore, up from Rs 10.73 lakh crore in August, as per the National Payments Corporation of India data. In July, India …

RuPay introduces UPI payments through its credit cards. Details here
2 years, 3 months ago

RuPay introduces UPI payments through its credit cards. Details here

Hindustan Times  

The National Payments Corporation of India has announced a feature enabling linkage of RuPay credit card to the unified payments interface. By linking RuPay credit card on UPI, now the customers can benefit from increased opportunity to use their credit cards while the merchants will benefit from the increase in consumption by being a part of the credit ecosystem with …

UPI: To charge or not to charge
2 years, 4 months ago

UPI: To charge or not to charge

Hindustan Times  

From less than a crore in monthly transactions in July 2016, the value of United Payments Interface transactions has grown to ₹10.6 lakh crore in July 2022. The ministry’s view may be driven by prudence, but it also needs to look at the challenge of sustaining the digital payments revolution, and perhaps India the global leader in this realm. The …

Rise in Spending Through Credit Cards, Debit Cards, UPI Indicates Pick-Up In Consumption: FinMin
2 years, 6 months ago

Rise in Spending Through Credit Cards, Debit Cards, UPI Indicates Pick-Up In Consumption: FinMin

News 18  

Spending through credit cards and debit cards in April jumps 77.8 per cent and 12.5 per cent to Rs 1.05 lakh crore and 3.49 lakh crore, respectively. “Value of UPI transactions processed through the National Payment Corporation of India stood at Rs 10.4 lakh crore during May 2022, the highest since UPI was launched in 2016, registering month-on-month growth of …

SBI, HDFC, ICICI Bank and Others: Using UPI? Know How Much Money You Can Send in a Day
2 years, 6 months ago

SBI, HDFC, ICICI Bank and Others: Using UPI? Know How Much Money You Can Send in a Day

News 18  

UPI Transactions: UPI or Unified Payments Interface has become one of the most popular transaction methods in India since its launch. See them here: – State Bank of India: The largest lender of India, State Bank of India or SBI UPI transaction limit is set at Rs 1 lakh per user, while the daily UPI limit is also set at …

UPI-Credit Card: RBI's Decision To Give Another Filip To Homegrown Payment Platform
2 years, 6 months ago

UPI-Credit Card: RBI's Decision To Give Another Filip To Homegrown Payment Platform

News 18  

UPI-Credit Card Linking: As the Reserve Bank of India has proposed to link credit cards to Unified Payments Interface, the homegrown virtual payment system has got yet another filip for its growth. Here’s details about UPI and credit card usage in India: Total UPI Transactions in India RBI Governor Shaktikanta Das, while announcing the decision, said, “UPI has become the …

RBI Policy: Now, no OTP needed for auto-debit recurring payments upto Rs 15,000
2 years, 6 months ago

RBI Policy: Now, no OTP needed for auto-debit recurring payments upto Rs 15,000

India TV News  

Highlights RBI had in 2019 first introduced the rule for processing recurring payments The latest decision means that customers will no longer need to authenticate payments manually The RBI decided to increase the limit after stakeholders urged central bank to revise the cap RBI Policy: The Reserve Bank of India has increased the limit for auto-debit mandates for making recurring …

RBI allows credit cards to be linked to UPI; Rupay credit cards first in line
2 years, 7 months ago

RBI allows credit cards to be linked to UPI; Rupay credit cards first in line

The Hindu  

The Reserve Bank on Wednesday allowed credit cards to be linked with the unified payments interface, which will enable more people to make payments using the popular platform. "…it is proposed to allow linking of credit cards to UPI," RBI Governor Shaktikanta Das said while announcing the regulatory moves, along with the bi-monthly policy review. He said that Rupay credit …

Debit Card, Credit Card Rule Change: E-mandate Limit for Recurring Payments Hiked to Rs 15,000
2 years, 7 months ago

Debit Card, Credit Card Rule Change: E-mandate Limit for Recurring Payments Hiked to Rs 15,000

News 18  

RBI MPC Decisions: The Reserve Bank of India on Wednesday, June 8, increased the limit on the mandates on recurring payments via cards, both credit and debit from Rs 5,000 to Rs 15,000 per transaction. “To further facilitate recurring payments like subscriptions, insurance premiums, education fees of larger value under the framework, the limit is being enhanced from Rs 5,000 …

RBI allows credit cards to be linked with UPI platform
2 years, 7 months ago

RBI allows credit cards to be linked with UPI platform

India TV News  

Highlights RBI today allowed credit cards to be linked with the unified payments interface It will enable more people to make payments using the popular platform At present, UPI facilitates transactions by linking savings or current accounts through debit cards RBI news updates : The Reserve Bank of India on Wednesday allowed credit cards to be linked with the unified …

UPI Reaches Another Milestone in May with Record Transactions Worth Rs 10 Lakh Crore
2 years, 7 months ago

UPI Reaches Another Milestone in May with Record Transactions Worth Rs 10 Lakh Crore

News 18  

UPI Makes Record: Unified Payments Interface transactions have reached yet another milestone in May, new data from the National Payments Corporation of India, or NPCI, showed. As per the data, India’s flagship digital payment platform UPI has broken yet another record by processing transactions worth more than Rs 10 lakh crore. As per data available on the NPCI website, UPI …

RBI to soon float paper on reasonableness of charges on transactions via digital payments
3 years, 1 month ago

RBI to soon float paper on reasonableness of charges on transactions via digital payments

India TV News  

With a view to make digital transactions more affordable, the Reserve Bank of India will soon come out with a discussion paper on the reasonableness of charges on transactions through digital mode. Observing that concerted efforts by all stakeholders have led to a significant increase in digital payments in recent years, RBI Governor Shaktikanta Das said there have, however, been …

RBI Doubles Payments Bank Balance Limit To Rs 2 Lakh. Know What It Means For Customers
3 years, 8 months ago

RBI Doubles Payments Bank Balance Limit To Rs 2 Lakh. Know What It Means For Customers

ABP News  

In major push to payments banks, the Reserve Bank of India went ahead and raised the maximum balance at the end of the day to Rs 2 lakh per customer soon after the governor Shaktikanta Das announced the decision to enhance the limit. The decision to increase the limit of maximum balance at the end of the day from Rs …

Opinion | Bridging the financial divide digitally
4 years, 3 months ago

Opinion | Bridging the financial divide digitally

Live Mint  

The world economy has succumbed to the covid-19 pandemic over the past few months, leading to steep cuts in discretionary purchase. The phenomenal growth of the Unified Payment Interface in a country as diverse as India has drawn attention of all the big tech companies around the world with firms like Google requesting the US Federal Reserve to build a …

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