UPI upgrade! Daily transaction raised to Rs 5L for select categories - check who benefits

The National Payments Corporation of India (NPCI) has raised transaction limits connected the Unified Payments Interface (UPI) for prime categories, making high-value integer payments easier, with the changes coming into effect connected September 15.According to NPCI, the per-transaction bounds for entities nether categories aligned to taxation payments has been accrued to Rs 5 lakh. The caller ceiling volition besides use to payments made done authorities e-marketplaces, arsenic good arsenic question and different concern oregon merchant-related transactions.In a connection connected its authoritative website, NPCI said, "NPCI has accrued the per transaction limits for entities nether categories aligned to Tax Payments to 5 lakh.

With UPI emerging arsenic a preferred outgo method, determination are requirements from the marketplace connected extending higher per transaction limits for further categories of transactions successful UPI."Additionally, the corp has raised the regular transaction bounds for definite segments to Rs 10 lakh. Categories specified arsenic security premium payments and superior markets tin present beryllium settled wrong a 24-hour bounds of Rs 10 lakh.Confirming the update, BHIM, NPCI’s authoritative UPI app, posted connected X, "Effective from 15th September, present marque high-value payments seamlessly with UPI! NPCI has accrued the transaction bounds to Rs 10 lakh wrong 24 hours for categories similar security premiums & superior markets, making large payments easier and faster than ever."

NPCI has besides issued caller guidelines for banks and users. The enhanced limits volition use lone to merchants categorised arsenic "Verified Merchant." Acquiring subordinate banks indispensable guarantee these merchants comply with UPI regulations. Further, NPCI clarified that subordinate banks clasp the discretion to acceptable their ain interior limits wrong NPCI’s wide ceiling, portion the per-transaction bounds for peer-to-peer (P2P) payments remains unchanged.