RBI UPI New Limit: Sending money to anyone these days only takes a few seconds thanks to the UPI technology.
UPI is used by almost all segments of the Indian population however, if you use it, you should be aware that transactions using the UPI system are limited to Rs 1 lakh per day.
RBI UPI New Limit You can make payment up to Rs 5 lakh
The news that the RBI UPI New Limit was just issued will make you extremely happy. The RBI has established standards for this new limit for RBI UPI tranactions. Through which you can now easily conduct transactions up to ₹5 lakh in a day with the use of the UPI payment system. However, you can only use this amount to pay hospitals and educational institutions.
You cannot use UPI to send payments to anyone else for more than Rs 5 lakh. Following this latest RBI update, a lot of individuals will be able to pay with UPI and save a lot of time, even when making large purchases.
It should be noted that the RBI has now limited the number of UPI transactions in a single day to ₹1 lakh for standard payments.
But the RBI has also released instructions in this latest update, which state that an individual will receive up to ₹2 lakh as a limit if he pays his loan bill, credit card bill, or mutual fund bill using UPI.
Therefore, you can conveniently use UPI to pay for mutual funds and credit card bills up to ₹2 lakh in a single day.
As a result of the RBI’s latest upgrade, more individuals will use UPI and there will be more digital payments made in India than there were previously. As a result, Digital India will continue to be encouraged.