The National Payments Corporation of India (NPCI) has halved the maximum number of daily peer-to-peer transactions to 10 from each account, to curb artificial incentive driven transactions on the Unified Payments Interface platform.
The circular which confirmed the limitation was put up on the NPCI website on October 21, and has been brought to effect from the same day.
However, the limit applies only for peer-to-peer transactions, not for merchant payments.
“NPCI has been working towards meaningful and genuine traffic flow through UPI,” said Dilip Asbe, chief executive officer, NPCI, “Now that UPI is two years old and real traffic is driving growth, we believe10 transactions per day should be good enough for P2P.”
Source: The Economic Times