UPI Transaction Limit: If you also use UPI Payment, then there is big news for you. A big change is going to happen soon in the UPI Payment System, which will affect crores of users of the country.
UPI Payment Limit: If you also use UPI Payment, then there is big news for you. A big change is going to happen soon in the UPI Payment System, which will affect crores of users of the country. At this time, every other person is paying through UPI only, so any change in this will have a direct impact on the customers.
Volume cap may be limited to 30%
Tell us that the apps providing service of UPI payment service are soon going to put a limit on the transactions that happen every day. Preparations are going on in full swing regarding this. The National Payment Corporation of India (NPCI) is preparing to limit the volume cap of the country’s Third Party App Providers (TPAP) to 30 percent.
Talks are going on with RBI
Talks are going on with the Reserve Bank of India in this regard. Only after the approval of RBI, companies like Phone Pay, Google Pay and Paytm will be able to fix its limit, due to which customers may have to face problems in the beginning. Although how much limit will be imposed on this, it is not yet decided.
Decision can be taken by December 31
Please tell that at this time NPCI is doing all kinds of evaluation, only after which its limit will be decided. According to the report, a decision on this can be taken by December 31.
Banks decide the daily limit
The daily limit of UPI is fixed by the bank. At this time, SBI has kept the one day limit of UPI transaction at 1 lakh. On the other hand, talking about ICICI Bank of the private sector, its limit is Rs 10,000. In the year 2020, NPCI issued a directive capping the transaction share that a third party application provider can set at 30 per cent of the transaction volume on UPI from January 1, 2021.
