New Delhi: National Payments Corporation of India has raised transaction limits on the Unified Payments Interface for select categories, making high-value digital payments easier, with the changes coming into effect on September 15. The per-transaction limit for the entities under the categories aligned to tax payments has been increased to Rs 5 lakh. The latest ceiling will also apply to payments made through government e-marketplaces, as well as travel and other business or merchant-related transactions.
In an statement on its official website, the National Payments Corporation of India stated that the increase the per transaction limits for the entities under the categories aligned with the Tax Payments to the Rs 5 lakh, with the UPI emerging as preferred payment method, there are requirements from the market on extending higher per transaction limits for the additional categories of the transactions in UPI. Additionally, the corporation has raised the daily transaction limit for specific segments to Rs 10 lakh. Categories such as the insurance premium payments and capital markets can now be settled within the 24-hour limit of Rs 10 lakh.
Confirming the update, BHIM, MPCI official UPI application has posted on X platform that these changes are going to take effect from September 15 now, make high value payments seamlessly with the UPI NPCI has increased the transaction limit to Rs 10 lakh within the 24 hours for the categories like insurance premiums and capital markets, making the big payments easier and faster than ever. NPCI has also issued fresh guidelines for the banks and users. The enhanced limits will apply only to merchants categorised as verified merchants. Acquiring member banks must ensure these merchants comply with the UPI regulations. Further, NPCI clarified that member banks retain the discretion to set their own internal limits within NPCI’s overall ceiling, while the per-transaction limit for peer-to-peer payments remains unchanged.
