If you pay online, you’ll now get more advantages starting today. The National Payment Corporation of India, NPCI, has raised the UPI payment limit to Rs 5 lakh, approved by RBI.
This means you can now make UPI payments up to Rs 5 lakh in a single day.
There has been a demand for this change for a while, and it is now in effect.
Who will benefit from this change? The increased UPI payment limit of Rs 5 lakh will benefit those in the medical and education sectors.
This means that if you need to pay a hospital during an illness or make a payment for education, you can now make UPI payments of up to Rs 5 lakh in a day.
Previously, this limit was Rs 1 lakh, so users can now enjoy the increased limit.
When does the new rule start? The rule to raise the UPI payment limit to Rs 5 lakh is effective from today, January 10, 2024.
NPCI has advised banks and payment service providers to implement this increased limit of Rs 5 lakh.
Big benefits for PhonePe, Google Pay: UPI payments are growing in popularity in India,
and with the new UPI payment limit of Rs 5 lakh, users of payment platforms like PhonePe, Google Pay, and Paytm will gain significant advantages.
PhonePe is the most widely used, followed by Google Pay and then Paytm in the third position.
