RBI increases UPI payment limit from Rs 1 lakh to Rs 5 lakh

Daily Current Affairs / RBI increases UPI payment limit from Rs 1 lakh to Rs 5 lakh

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Category : Business and economics Published on: August 10 2024

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RBI has increased the UPI payment limit to Rs 5 lakh, from Rs 1 lakh earlier, to facilitate large transactions.
RBI Governor Shaktikanta Das informed that the UPI user base has reached 42.4 crore and the decision has been taken in view of the growing popularity of digital payments.
UPI transactions have registered a 45 percent annual growth, and the total transaction value has reached Rs 20.64 trillion, exceeding Rs 20 trillion in the last three months.