NPCI receives nod to revise cap on UPI transactions
Business Standard [
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Apr 10, 2025 | Page No.: 5 | Position: Bottom Center | Source: Bureau | Sq Cm: 56 | AVE: 11566 | PR Value: 57830
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NPCI receives nod to revise cap on UPI transactions The Reserve Bank of India RBI on Wednesday authorised the National Payments Corporation of India NPCI to revise transaction limits on India s flagship real-time payments platform Unified Payments Interface UPI This revision in limits on UPI has to be done in consultation with stakeholders of the UPI ecosystem and the banks the RBI said Currently the transaction amountfor UPI covering both person-to-person P2P and person- to-merchant payments P2M is capped atT1 lakh except for specific use cases of P2M payments which have higher limits such as T2-5 lakh To enable the ecosystem to respond efficientlyto the new use cases it is proposed that NPCI in consultation with banks and other stakeholders of the UPI ecosystem may banks and other stakeholders of the UPI ecosystem may announce and revise such limits based on evolving user needs the RBI said However itstated that appropriate safeguards will be put in place to mitigate risks associated with higher limits and banks will continue to have the discretion to decide their own internal limits within the limits announced by NPCI BS REPORTER