UPI Rules: Many important changes are being made for UPI users from January 1, 2025. The Reserve Bank of India (RBI) has decided to implement new rules to make UPI transactions more convenient.
UPI Rules: Many important changes are being made for UPI users from today i.e. 1 January 2025. The Reserve Bank of India (RBI) has decided to implement new rules to make UPI transactions more convenient. Under these rules, users will be able to send more money than before. Also, many other important changes will also be included in UPI. Let’s know about the new rules.
UPI123Pay transaction limit increased
RBI has decided to increase the transaction limit of UPI123Pay created for feature phone users. Now from January 1, 2025, up to ₹ 10,000 can be paid daily through UPI123Pay, which was earlier ₹ 5,000. This change will allow UPI123Pay users to transfer more money.
However, the transaction limit on smartphone apps like PhonePe, PayTM, and Google Pay will remain the same. Users can transact up to ₹1 lakh per day through UPI. But for some special cases, such as college fees and hospital payments, this limit is increased to ₹5 lakh.
UPI Circle
The UPI Circle feature was introduced in 2024, and from next year it will be implemented on all UPI-supported platforms. Currently, this feature is available to BHIM app users. Under this feature, users can include their family or friends so that the other person can make payments without adding a bank account. The main user (primary user) can set the spending limit of the second user (secondary user) in this feature.
Options for UPI Circle Feature
Full Delegation: In this, the secondary user can do full transactions up to a set limit.
Partial Delegation: In this, the secondary user can only initiate the transaction, while the primary user will complete it through UPI PIN.
UPI Circle Rules
- The primary user can add 5 secondary users.
- The limit per transaction will be ₹5,000 and the limit per month will be ₹15,000.
- Passcode and biometric authentication will be mandatory for the secondary user.
