The Unified Payments Interface (UPI) is the backbone of digital transactions in India.
UPI Transaction Limits:
- General limit: Rs 1,00,000 per transaction (by NPCI).
- Individual banks may set lower limits.
- Limits can be daily, weekly, or monthly.
Examples of Bank Limits:
- Daily Limits: SBI, ICICI, HDFC, AXIS BANK: Rs 1,00,000, PNB: Rs 50,000.
- Weekly Limits: Not specified for most banks.
- Monthly Limits: IDFC First Bank: Rs 30,00,000, SBI: No limit specified.
Reasons for Lower Limits:
- Bank’s risk management policies.
- New UPI users: Rs 5,000 limit for first 24 hours.
- Specific payment types: Increased limit of Rs 5 lakh for education and healthcare.
- Account type or transaction history.
Reasons for Limits (Continued):
- Risk management and fraud prevention.
- Operational constraints and technical capabilities of the bank’s UPI system.
Sending Money to Non-UPI Users
- Direct bank transfer (NEFT, RTGS, IMPS).
- Mobile wallets (Paytm, Google Pay, PhonePe).
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