UPI transaction limit increased: RBI Governor has decided to increase money transactions through UPI. Let us tell you in detail
If you use UPI a lot. If you transact money through apps like GPay, Amazon Pay, PayTm and Phone Pe, then this news is very important for you. Because RBI has made a big announcement. RBI Governor has decided to increase money transactions through UPI. Let us tell you in detail.
RBI Governor Shaktikanta Das said after the policy that the limit of payment through UPI has been increased from Rs 1 lakh to Rs 5 lakh. But now it can be used for educational institutions or it can be used in hospitals.
Let us tell you that NPCI has currently set a limit for UPI payments. NPCI says that every user can pay only up to Rs 1 lakh in a day through UPI. You will not be able to pay more than this. There will be no problem for those who pay Rs 100 or Rs 200 every day, but for those who do more transactions in a day and that too through UPI, there may be a lot of trouble for them. Now let us know how much amount can be transacted through each app in a day. If you use GPay, then you have to keep in mind that you will be able to send only up to Rs 1 lakh through UPI in a day. You will not be able to pay more than this. Whatever amount you pay in a day, even if it varies, the total amount should be up to Rs 1 lakh.
According to NPCI, from here also you will be able to send up to Rs 1 lakh. Paytm allows transactions up to Rs 20,000 in an hour. Minimum 5 transactions and maximum 20 transactions are allowed every hour. PhonePe allows users to transact up to Rs 1 lakh in a day. It also depends on the bank account from which the person is transferring the money.
