Upi new rules: There is big news for digital payments. From September 15, the National Payments Corporation of India (NPCI) has increased the limit of Person-to-Cracha (P2M) transaction to Rs 10 lakh. With this, it has become even easier to make big transactions through UPI. This decision has been taken to help people associated with the sectors, especially those who had to face trouble due to the low limit.
Has something changed under the new rule?
The payment of investment and insurance premium payment in the capital market has also been increased from Rs 2 lakh to Rs 5 lakh. However, no more than Rs 10 lakh will be paid in a day. That is, under the new rules, the limit of per transaction in categories like Capital Market, Insurance Premium, Credit Card Bill Payment, Travel and Government E-Marketplace (GEM) has been increased from Rs 2 lakh to Rs 5 lakh to Rs 5 lakh. Of these, you will be able to do transactions up to 10 lakh rupees in a day.
Jewelery and Banking Service
Similarly, the limit of jewelery purchase through UPI has been increased to Rs 2 lakh per transaction (first Rs 1 lakh). In this category, you will not be able to do transactions of more than Rs 6 lakh a day. For banking services like fixed deposit through digital onboarding, Rs 5 lakh per transaction has also been done per day. However, the limit of P2P payment will be only Rs 1 lakh per day. Increasing the limit of UPI transaction shows the NPCI’s commitment, under which it wants to improve the experience of users by making large transactions easier. With this step, the process of payment in many different sectors will be comfortable, which will benefit both consumers and businessmen.
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