The UPI limit will be decided, the Reserve Bank made this big decision
The UPI limit will be decided, the Reserve Bank made this big decision
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UPI fee: RBI Governor Sanjay Malhotra delivered this information on Wednesday that the National Payment Corporation (NPCI) of the Indian National Tax Corporation (NPCI) was provided with the Integrated Payment Interface (UPI) to promote digital allowances. Currently, under the UPI system, the person-person and person-to-curse-to-Crachant limit is Rs 1 lakh. However, on some special occasions, this limit is Rs 2 lakh and Rs 5 lakh.
UPI limit according to requirement
After the 54th Monetary Policy Committee (MPC), Malhotra said the decision was made to create the UPI Environmental Organization efficiently. Now the boundaries will be determined depending on the requirements of the NPCI. He added that proper security measures will be taken to reduce the risks of high border. Banks are constantly entitled to set their internal limits within the boundaries announced by the NPCI.
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This limit does not change
The Central Bank said, “The limit of B2B transactions on UPI is only Rs 1 lakh.” When the monetary policy was announced, the RBI leader said that the payment system operators would make decisions only after talking to banks and other biders. UBI transactions rose 13.59 per cent to 18.3 billion in March. The number was 16.11 billion in February.
Many transactions in March
According to NPCI data, UPI contained transactions worth Rs.24.77 lakh crore in March. This is 12.79 per cent higher than the transaction of Rs 21.96 lakh crore in February. On a daily basis, an average of 590 million transactions are made from the UPI network. Their value is about Rs 79,910 crore. According to another report, the second half of the 2024 UPI transactions increased by 42 per cent, which increased to 93.23 billion transactions.
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