Government introduces daily UPI limits

NPCI (National Payments Corporation of India) which introduced the UPI (Universal Payments Interface) a few years ago which made the lives of millions of Indians easy has now introduced a daily transaction limit.

According to NPCI guidelines, a person can pay a maximum amount of Rs 1 Lakh per day through UPI. The limit varies from bank to bank as small banks such as Canara Bank only allow Rs 25,000 while big banks like SBI have set daily UPI transaction limit to Rs 1,00,000.

Along with the money transfer limit, there is a limit to the number of UPI transfers to be carried out in one day. The daily UPI transfer limit is set to 20 transactions. After exceeding the limit, one has to wait for 24 hours to renew the limit. However, the limit may vary as per bank guidelines.

GPay UPI transfer limit

Google Pay or GPay allows daily money transfers of up to Rs 1,00,00 per day along with a total of up to 10 transaction limits across all UPI apps and bank accounts. Notably, GPay also halts daily transaction limits if someone sends money requests of more than Rs 2,000.

PhonePe UPI transfer limit

PhonePe has set the daily UPI transaction limit to Rs 1,00,000. However, the limit may vary from bank to bank. Along with that, a person can initiate a maximum of 10 or 20 transactions per day through PhonePe UPI depending on the guidelines of the bank.

Paytm UPI transfer limit

Paytm UPI allows users a money transfer of up to Rs 1 Lakh.

Amazon Pay UPI transfer limit

Amazon Pay has also set the maximum money transfer limit through UPI at Rs 1,00,000. Notably, in the first 24 hours after registering for Amazon Pay UPI, users can only transact up to INR 5,000. The number of transactions per day is set up to 20 depending on the bank.

Indians have been using UPI without any restrictions and has made their lives easier especially during covid.

Due to such limitless UPI transactions, India was fast moving towards a cashless economy and the technology and its fast adoption by Indians received praises from across the globe. However, with the introduction of this new limit it needs to be seen whether the NPCI has more such restrictions and commercials in place. If yes then soon many Indians will be deserting this awesome technology and switch back to cash transactions.