UPI doubles limit for credit card, mutual fund payments

The National Payments Corporation of India (NPCI), which manages the digital payments network - Unified Payments Interface (UPI), has doubled the per transaction limit to Rs 2 lakh for specific needs like payments for credit cards, loans, insurance, and mutual fund investments.

This will further increase the usage and adoption of UPI among consumers who want to make these payments that are large in size.

“With UPI emerging as a preferred payment method, there is an increase in demand to extend the per transaction limit in UPI which is presently Rs 1 lakh to Rs 2 lakh per transaction for specific use-cases,” the NPCI circular said.

Source: Economic Times