UPI New Rules: New changes will be implemented in UPI rules from September 15, know full details

NPCI has said in a statement that the increased limit will be applicable to entities falling under the category of tax payment up to Rs 5 lakh.

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UPI New Rules: National Payments Corporation of India i.e. NPCI has made some very important and important changes in the rules of UPI transactions. These changes will come into effect from Monday, September 15. The new changes will provide a lot of relief to the common people as well as shopkeepers / merchants doing transactions with UPI.

Actually, NPCI is going to increase the limit of UPI transactions for certain categories like insurance premium, capital market, credit card bill payment to Rs 5 lakh per transaction. For such transactions, you will be able to transact up to a maximum of Rs 10 lakh in a day i.e. 24 hours. Apart from this, the daily transaction limit is also being increased for 12 other categories.

No change in general UPI transaction limit

NPCI has said in a statement that the increased limit will be applicable to the institutions falling under the category related to tax payment up to Rs 5 lakh. After the increased limit comes into effect, the limit for transactions on government e-marketplace, travel and trade/merchant related transactions will also be Rs 5 lakh. However, there is no change in the daily transaction limit for P2P (Person to Person) transactions. That is, you can transfer a maximum of Rs 1 lakh in a day on a normal UPI account as before.

UPI is being used on a large scale

This increase in the UPI transaction limit clearly shows how widely people are using UPI for their daily transactions. In the early days, UPI was used only for small transactions at shops, but today many types of payments are being made using UPI.