NPCI to Increase UPI Per Day, Per Transaction Transfer Limits From September 15

National Payments Corporation of India (NPCI) has announced that it is increasing the transaction value limit for payments made peer-to-peer and peer-to-merchant transactions made through its Unified Payments Interface (UPI). The new limits will be effective starting mid-September. The digital payments settlement organisation has raised the transaction value limit across categories, including government e-marketplace, insurance, travel and tourism, repayments on credit cards, business or merchant payments, foreign exchange retail payments. It will also be applicable on digital account opening, and initial funding for opening a digital account.

New UPI Transaction Limits to Come Into Effect From September 15

In a post on X (formerly Twitter), the NPCI announced category-wise transaction limits for money transferred via UPI. Owned by the Reserve Bank of India (RBI) and the Indian Banks' Association (IBA), the digital payments settlement non-profit organisation said that these limits will come into effect starting September 15.

With the increased limits, people will be able to make payments of up to Rs. 5,00,000 per transaction and up to Rs. 10,00,000 for capital market investments, insurance premiums, and other insurance payments, government e-marketplace payments, collections-related payments, and travel-related transactions. For credit card repayments, the per-transaction limit has been raised to Rs. 5,00,000, and per day transaction limit has been set at Rs. 6,00,000.

Customers will be able to buy jewellery worth up to Rs. 2,00,000 in a single transaction and up to Rs. 6,00,000 in a day. They can also make Business and Merchant transactions of up to Rs. 5,00,000 in one go.

For foreign exchange retail payments made via NPCI's Bharat Bill Payment System (BBPS), the per-day and per-transaction limit has been increased to Rs. 5,00,000.

Similarly, the per-day and per-transaction limits for payments made for opening a digital account have been set at Rs. 5,00,000. At last, people can transfer up to Rs. 2,00,000 for initial digital account funding.

In recent news, PayPal and NPCI's International Payments Limited announced a partnership to build a new platform that will facilitate cross-border transactions, international money transfers. With the help of this new platform, PayPal claims that users will be able to purchase products from various countries online, directly making payments to them. There will also be an AI agent that will make autonomous purchases online for users. This platform will also facilitate peer-to-peer (P2P) transactions.