Mumbai, Sep 15
The National Payments Corporation of India (NPCI) has raised the Unified Payments Interface (UPI) transaction limits for person-to-merchant (P2M) payments to up to Rs 10 lakh in 24 hours for specified categories, effective from Monday.
The move seeks to facilitate larger payments in key sectors and enhance digital adoption in high-value segments. The NPCI maintained the person-to-person (P2P) limit at Rs 1 lakh per day.
Earlier users often encountered restrictions, forcing them to split payments or revert to traditional methods like cheques or bank transfers.
Under the revised framework, capital market and insurance payments, the per-transaction limit has been hiked from Rs 2 lakh to Rs 5 lakh, with a daily limit of Rs 10 lakh.
Government e-Marketplace transaction limit, including earnest money deposits and taxes, have been increased to Rs 5 lakh per transaction, up from Rs 1 lakh. Per-transaction limits for travel bookings, loan repayments, and EMI collections have also been increased to Rs 5 lakh from Rs 1 lakh.