Did you know there is a daily limit on UPI transactions? Unified Payment Interface (UPI) has rapidly become a popular method for making transactions in recent years.
However, users need to be aware of the daily transaction limits imposed. Here’s a detailed look at the maximum amounts you can transact through UPI in a day.
General UPI Transaction Limits
The standard limit for regular UPI transactions is Rs 1 lakh per day. However, this limit varies for different categories:
Capital markets, collections, insurance, and foreign inward remittances: The maximum transaction limit is Rs 2 lakh.
IPOs and retail direct schemes: The limit is set at Rs 5 lakh per transaction.
Recent Updates for Hospitals and Educational Institutions
According to the Paytm website, effective from December 8, 2023, the Reserve Bank of India (RBI) has increased the transaction limit for UPI payments related to hospitals and educational institutions from Rs 1 lakh to Rs 5 lakh per transaction.
This change aims to facilitate larger transactions within these sectors.
Daily UPI Transaction Limits by Banks
Different banks have set their own transaction limits. For instance:
Abhyudaya Sahakari Bank: The UPI transaction and daily limit is Rs 25,000.
Adarsh Co-op Bank Ltd (sponsored by HDFC Bank): The UPI transaction and daily limit is Rs 50,000.
P2P UPI Payment Restrictions
While the maximum limit for peer-to-peer (P2P) transactions via UPI is Rs 1 lakh, individual banks may impose their own restrictions. For example:
HDFC Bank: Allows a maximum of Rs 1 lakh or 20 transactions per bank account within 24 hours for P2P UPI transactions.
The National Payments Corporation of India (NPCI) has mandated an upper limit of Rs 1 lakh per transaction, with a maximum of 10 transactions allowed within the first 24 hours of the initial transaction.
Understanding these limits can help users manage their UPI transactions more effectively and avoid potential disruptions.
