UPI Limit Increased: NPCI has increased the limit for transactions through UPI. Now you will be able to transact more money through UPI. How can you take advantage of this? Let us tell you.
UPI Limit Increased: Now the way of making payment has changed a lot in India. There are very few people who make cash payments in India. Now most people do online digital transactions. UPI was introduced in India in 2016. Since then, crores of people use it. If you also use UPI. Then an important news has come for you.
NPCI has increased the limit for transactions through UPI. That is, now you will be able to transact more rupees through UPI. How will you be able to take advantage of the increased limit of UPI. Let us tell you.
Take advantage like this
In August this year, the National Payment Corporation of India i.e. NPCI had informed that it is going to increase the limit of UPI transactions. In which the limit for tax payment will be up to ₹ 500000 and along with this, the limit will be increased to 5 lakhs in other things as well. This limit has been increased from today i.e. 16th September.
If you also want to take advantage of this increased limit, then you will not have to do anything separately for this. You will make payment in the same way as you do. But now you will be able to make more payments than before. However, the limit for transferring money to another UPI number has not been increased. Rather, the UPI transaction limit has been increased for some tasks.
You can make a payment of Rs 5 lakh here
Now, according to the new rules in UPI, you will be able to transfer up to Rs 5 lakh through UPI to pay tax. So, along with this, you will be able to make transactions of up to Rs 5 lakh in hospital bills, fees of educational institutions, IPO and retail direct schemes of Reserve Bank of India.
Transaction limit will remain same as before
NPCI has prescribed limit for some tasks through UPI. You will not get the benefit of this increased limit in every type of transaction. UPI transaction limit depends on both bank and app. For example, HDFC and ICICI bank customers can transact up to ₹100000 in UPI in a day but Allahabad Bank customers can only transact up to ₹25000. You will be able to do only that much transaction as per your bank’s UPI transaction limit.
